Best Wins only takes large volume trades, unlike online brokers such as Charles Schwabb, E*Trade and Barclays. Robin Miles, IT project manager at DrKB, said: "The existing system is available free to those who carry large volumes of trades.
Forrester asked 50 business-to-business companies about their online customer service strategies and found that 'lower tier' response strategies such as email queries are failing to adequately deal with the majority of customer questions.
The investment in automation is vital for dealing with the rapid increase in credit default swaps (CDS) trades, with many of the world's largest credit derivate dealers struggling with backlogs of unconfirmed trades and high levels of manual...
Businesses will need to prove 'best execution' for trades - which is likely to take into account issues such as price, venue, cost and speed - and to retain records of trades for five years, a change that is likely to drive the uptake of automated...
Companies will also have to publish more information on trades than they have done previously, which means new comms infrastructures must be put in place. This side of MiFID is expected to prompt greater use of algorithmic and automated trading...
The London Stock Exchange (LSE) has agreed a deal for connectivity service provider Savvis to provide a proximity hosting service for member firms, hedge funds, market data vendors and the automated trading community.