Execution Venue Competition, Post-MiFID

Latency and speed of execution, and the technologies that support this, will be king in 2008. In technology terms, there are two opposing forces-the need for speed, and the need for smart order routing, such as from StreamBase and others, the interjection of which into the path of order flow takes valuable milliseconds from execution turnaround time.

When brokers are investing in co-location services offered by stock exchanges in return for shaving milliseconds off latency, most will be relu