A Crowded Market: Brokers, Vendors Battle with FIX
Order flow is drying up for the broker-dealer community. Brokerages that hope to survive these tough market conditions must find ways to keep execution costs down, which was discussed in greater detail in the February issue of Waters.
For many brokers, connectivity represents the second highest expense, after the overall cost of taking and executing an order, says George Rosenberger, who heads ConvergEx's ConnEx group, which provides an outsourced solution for FIX connectivity. Third-party
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