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Towergroup Launches Comprehensive Service to Track Electronic Trading Systems
Electronic Financial Marketplace (EFM) Service Will Provide Securities Industry With Detailed, Up-to-Date Information on Global Electronic Marketplaces
NEEDHAM, MA, March 27, 2001—Fueled by the Internet and advances in front- and back-office technology, electronic trading systems and electronic communications networks (ECNs) are transforming traditional financial markets. The proliferation of these new systems–along with recent market volatility–has created a major challenge for the securities industry: keeping up with the many systems and players while devising superior e-commerce strategies.
In response to the need for a comprehensive resource to track this rapidly evolving area, TowerGroup today launched a new database service: Electronic Financial Marketplace (EFM). EFM aggregates information on a broad range of electronic trading systems–including details on what they trade, which dealers are involved, the markets they serve, system types, and trading volumes.
"Electronic Financial Marketplace lays a critical foundation for TowerGroup’s hierarchy of value-added services encompassing data, information, thought leadership, and strategic guidance," TowerGroup President and CEO, Mark Sievewright, said about EFM. "Access to accurate and timely data on emerging and existing systems is a competitive necessity. The launch of EFM meets this need and reflects TowerGroup’s commitment to fulfill our role as our clients’ trusted advisor."
Larry Tabb, TowerGroup’s vice president of Securities & Investments, added that companies trying to obtain information on electronic trading systems have faced a significant challenge. "Compiled information on electronic trading systems has been piecemeal at best," he said. "In both its scope and the depth of information available to subscribers, EFM is unrivaled in the marketplace. Our subscribers will not only have access to TowerGroup’s industry-leading monthly ECN volume statistics, but also gain access to relevant, up-to-the-minute insights into one of the main areas driving the financial industry’s investment in technology."
EFM covers more than 200 non-traditional trading systems that create online marketplaces for the buying and selling of financial products. It currently tracks systems for trading of equities (ECNs), fixed income, foreign exchange, money markets, and commodities.
Based on a user’s subscription level, EFM provides access through TowerGroup’s Web site to products traded, ownership structure, trading volumes, target markets, business models, and technology infrastructure, as well as actionable commentary from TowerGroup’s Securities and Investments analysts.
About TowerGroup: TowerGroup, a Reuters company, is the leading provider of information technology research, advisory and consulting services specializing in topics critical to the global financial services industry. TowerGroup conducts research addressing banking, securities, investments, and insurance information technology, products, vendors, markets, investment trends and issues. Headquartered near Boston, Massachusetts, and with offices serving Europe and Latin America, TowerGroup serves a global client base, which includes some of the world’s largest financial services, technology and consulting firms. For additional information, visit TowerGroup online (www.towergroup.com).
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