At Deadline.(trends in securities industry)(Jeffrey A. Citron banned from securities industry)

Traders, March, 2006 by Scotti, Michael

New Crossing Report

*The number of systems that anonymously cross block trades is expected to grow, with the new entrants coming from full-service brokers and exchanges, according to Alex Ramistella in a TowerGroup report on crossing networks.

Both Credit Suisse and Goldman Sachs have already registered their internal crossing engines as ATSs with the SEC, and the report predicts other brokers could do the same with their internal matching engines as electronic crossing continues to grow. Exchanges could be the low-cost providers in this area, the report noted, and gain market share. Nasdaq Cross is expected to launch at the end of the first quarter this year. The New York Stock Exchange, meanwhile, could launch its product off a successful hybrid...

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