Where ATSes Fear to Tread
TRADING TECHNOLOGY
For several years, attempts to introduce and expand alternative trading systems (ATSes) into the European market have met with little or no success. This poor track record hasn’t deterred agency brokerage Instinet from introducing its Chi-X ATS platform in the coming months, according to Alex Goor, co-president of Instinet.
The historic challenge for ATSes has not been in creating a better matching engine, but in dealing with clearing costs, says Goor. "The incumbent exchanges don’t have to bear
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