Bloomberg TradeBook Forms Correspondent Clearing Network
ATS/ECN UPDATE
NEW YORK--Bloomberg Tradebook ECN has formed a correspondent clearing network that will enable plan sponsors and investment advisors to direct their trades to designated brokers for payment services. The Network will be up and running on March 20.
In the bargain, Bloomberg has made agreements with several institutional brokers that offer commission recapture, soft dollar and directed brokerage programs. Autranet, BNY ESI, Capital Institutional Services, Muti-Trade and Westminister have all signed
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