Tag: aggregation

Impartial access encourages, but does not require, an agency model

In the past I’ve spoken about buy side incentives for using an agency model – chief among them the reluctance or inability to navigate the slew of legal documents an institutional investor would need to sign in order to gain access to the needed SEFs.  (Other incentives are discussed in a good post on the […]

Determining if SEF Aggregation Really Matters

This post also published at TabbFORUM.com Regulations will have a significant impact on how SEF aggregators function and how widely these aggregators will be adopted by various market participants. Some of the most contentious rule proposals are those that will have the greatest impact on liquidity fragmentation. They include the 15-second rule, the ability to […]