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First Word: The Smart Money’s on Smart Routing

We’re constantly bemused by the way many in the financial markets IT community bemoan the MiFID regulation. Suppliers are sore that the directive didn’t bring the kind of Big Bang spending spree that accompanied, for example, the London Stock Exchange’s 1986 Big Bang reforms. Firms fume that they’ve been forced to spend, spend, spend merely to prove that they’re doing what they’ve in essence been doing for years: namely, providing best execution and cost transparency to their clients.



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