RT Journal Article
SR Electronic
T1 COMMENTARY: A Market Structure That Fits the Needs of Portfolio Managers
JF The Journal of Trading
FD Institutional Investor Journals
SP 80
OP 81
DO 10.3905/jot.2018.13.4.080
VO 13
IS 4
A1 Charles Polk
A1 Evan Schulman
YR 2018
UL https://pm-research.com/content/13/4/80.abstract
AB Trading “these” securities for “those” (portfolio trades) can be expensive if done through our current continuous markets. This article compares a broker-implemented blind bid solution to this problem in a continuous market setting versus a combined value computerized call market that maximizes available liquidity to create balanced trades between such lists. The technology is known: combined value markets are in use today servicing markets in logistics contracts, emissions permits, spectrum licenses, and aerospace procurement. Should not financial concerns, such as custodial banks, be currently offering such services to their clients?TOPICS: Exchanges/markets/clearinghouses, portfolio management/multi-asset allocation