Tabb Group

Dark Forces: Off-Exchange Trading on the Rise

A growing percentage of trade volumes is moving off-exchange every year, whether it’s through broker dark pools, internalized on a firm’s own desks, or elsewhere. Along with declining liquidity in equities markets and higher trading costs, the increasing…

Equities Mask for Derivatives

Concerned about the danger posed by leveraged OTC derivatives, regulation is forcing many of those instruments from a bilaterally traded environment to a publicly traded one. Dealers are preparing for the automation of collateral management and clearing…