TRADEWATCH.(Trading & Technology)(Plexus BrokerEDGE Monitor Universe)(Brief article)

Pensions & Investments, March, 2007

The Plexus BrokerEDGE Monitor Universe is a transaction database of nearly 7 million trades ($3.3 trillion in volume) compiled from data contributed by Investment Technology Group Inc. investment manager clients. The information is based on four quarters of U.S. equity trading data for the period ended Sept.

30. Brokers are separated based on their primary peer group: full service, research and execution. Ranks are based on the top 30 by dollar volume in each group. Execution cost is the price difference from order to execution; best execution ranks brokers on the difference between execution cost and the Plexus Average Execution Gain/Loss benchmark, in basis points; difficulty is based on the dollar-weighted benchmark; commissions are ranked in cents per share.