March 6, 2006 Issue Abstract

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Securities Trading: Buy-Side Firms Taking First Steps to Measure Effectiveness of Algorithms Face Data Challenges. As trading algorithms designed to reduce execution costs grow in popularity, the buy side increasingly seeks intra-day benchmarks to measure the effectiveness of complex strategies that use multiple algorithms in the same order.

Industry Alert: Euronext, Deutsche Börse Seek Strength in Unity. With the dismissal of all offers for the London Stock Exchange (LSE), the field of exchange mergers is now wide open, with a consolidation of the Deutsche Börse and Euronext the only possibility currently on the table.

Spotlight: Denis Bastin, Director, Mercer Oliver Wyman.

Straight-Through Processing: Evare Enables Easy STP With Data-Mapping Solution. A newly enhanced clearance and settlement solutions set developed by Evare LLC enables Breckinridge Capital Advisors to automate trade processes, while Evare’s connectivity managed service offering helps Metropolitan West Capital Management and Payden & Rygel simplify communications with custodians.