Letter From the Editor


by David Rivers

Execution Is King

Remember that old saying: content is king? Well, forget it.

In the new world, execution is king. Period.

These days, data’s just a tease to get people to the execution platform, of which there are many.

In fact, there are more than 20 electronic execution platforms featured in this issue of Waters, and another ten in our FX special report. It’s hard not to write about them. Firms, vendors and exchanges, or some configuration of all three, are building or buying (or

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