To date, the competition for the U.S. equities market has been largely dominated by bulge bracket firms. The agency brokerage side has experienced unpredictable and varied growth in the last couple of years. Most independent agency brokers witnessed a significant trade volume dip immediately following the Internet bubble burst in late 2001. However, larger, independent agency brokers, such as ITG and Instinet have bounced back strongly since then, driven by automation and the diversification of revenue sources.

Boston, MA, November 27, 2006 – According to a new Aite Group report, new and improved agency brokers, such as ITG and the newly formed BNY ConvergEx, showcase a new type of an agency broker that is able to support the full life-cycle of trade management for the buy-side community. On the other hand, smaller but IT-centric agency brokers have emerged in recent years to provide much-needed efficient and cost-effective execution services for hedge funds and traditional asset mangers, alike.

This Impact Note examines some of the key adoption trends in the overall algorithmic trading market and profiles 12 leading agency brokerage operations and their algorithmic trading services.

This 42-page Impact Note contains 21 Figures and 6 Tables. Clients of Aite Group's Retail and Institutional Securities & Investments Services can download the report by clicking on the icon to the right.

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