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Is DMA on the rocks? – Stewart Eisenhart’s feature focuses on the benefits to buy-side players of accessing the markets directly, and the primary stumbling block of integrating DMA technologies with other front-office applications, currently inhibiting mo

Since direct market access (DMA) tools began gaining traction with buy-side firms, the benefits of managers taking more control over their trading operations in terms of best execution and greater efficiency have been tempered by significant challenges…

Stuff Happens

Back in my college days, I took a job as a file clerk at a global tier-one bank. Working in the bowels of an office tower in downtown Buffalo, N.Y., I noticed that on my manager's desk was a vanity bumper sticker that read: "T.W.H.I.P." I asked him what…

Staggering Into Summer

Late last week, the New York Stock Exchange and the Nasdaq Stock Market experienced what my family mechanic would best describe as an "oopsie."

How Fast Is Fast Enough?

While in London last week, I found myself in conversations about execution latency almost every day. Besides smart order routing and defining best execution, it seems to be the most popular topic in the City.

You couldn't make this up

Heard the one about the hedge fund doing its Monte Carlo simulations on 300 PlayStation 2s bolted together? No? That's not surprising – they closed their doors for business last week and handed back whatever was left of their investors' capital. Actually…

Transaction cost analysis – Joel Clark reports that currently only equities are meaningfully supported by the handful of technology vendors active in this space, although TCA support for fixed-income instruments is just around the corner.

Buy-side traders are increasingly asking their employers to make new investments in applications designed to measure transaction cost analysis (TCA). The technology has made big advances in recent years, driven by the global demand for proof of best…

Gaining the Edge

Technologists are all too familiar with the mantras of the trading desk heads: "I want it faster" and "I want it better."

Paying for the Grid

If there's one word buzzing through the financial services community's datacenters these days, it's "grid." Most investment banks can't get enough of them and many already have computing and data grids numbering in the tens of thousands of nodes, while…

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