Response: (not a question)
investorshub.com
This is an excerpt from the SI message board:
LPS5 said:
"As I've said several times, human traders are entrenched in the buyside-sellside culture,
but there are definitely places in which both buy- and sellside entities can benefit from
electronic accoutrements.
Good institutional ATS' should seek to meet requirements that, first and foremost
address various needs and fears of portfolio managers; second, for business viability, that
meet those needs and fears that can't easily - via cost, speed, or other functionality - be
replicated by block/principal/agency desks.
In MBA terms, the prospect offered by an alternative trading system - particularly where
institutions are concerned - must be one which forces the "buy" hand in the classic "buy
vs. build" decision: impossible to copy, imperative to utilize.
If it doesn't meet needs (real needs, as expressed by the institutions, and not
ATS-defined needs) and can be copied easily, either via pricing, functionality, or speed -
it's in danger from day one."
Evwap meets a need, but it can be easily copied, can it not? Puts a bit of a cloud over
evwap, doesn't it? The key words being "its in danger from day one........." |
