Will E-Crossnet Breed a New Market Structure?
EDITTORIAL
About two years ago, Chris Morstatt, senior executive at Commerzbank Capital Markets, told me: "I think we all have our heads under the covers if we don't think institutions are going to find a way to execute against each other."
Last week the largest institutions in Europe all stepped up behind Merrill Lynch Mercury and Barclays Global, in support of a new crossing network that will allow institutions to execute against each other. Hmmm.
Of course, E-Crossnet as it will be known, is strictly a
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