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Among exchange specialists, Susquehanna gained the top position in terms of price, while Fleet Meehan achieved the fastest execution times. Among major market makers for NYSE issues, Citigroup fared the best in terms of prices achieved, but was one of the slower execution venues.
In the overall ranking, NYFIX and Instinet achieved the top positions for price quality, while Pershing and Instinet were the fastest execution venues. However, it must be pointed out that direct comparisons between execution venues with very different types of order flow and very different market models are fraught with danger. “The results in this study should be used as a guide, not as a substitute for common sense,” according to Octavio Marenzi, author of the study.
A table of contents is available online. The 33-page report contains 21 charts and eight tables.
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About Celent Celent, LLC is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Media Contacts New York - Dana Lautin Paris - Alexandra Vouge Tokyo - Yumi Nagaoka | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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