Which brokers do most of the hedge funds execute their orders through?

G

ginux

Not referring to the mega hedge funds who have their own clearing house. I'm referring to the thousands of smaller hedge funds
 
Man, Goldman, Merril UBS, Citi group etc all the big name houses as most of these with the exception of Man also clear the business so they strike a combined rate often paying zero commis for the execution (in futures anyway) or an agreed flat rate a month like Blue Scope do
 
Quote from Bogan7:

Man, Goldman, Merril UBS, Citi group etc all the big name houses as most of these with the exception of Man also clear the business so they strike a combined rate often paying zero commis for the execution (in futures anyway) or an agreed flat rate a month like Blue Scope do
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Oh. I thought the smaller funds use Trading Technologies or IB.

I thought TT's X_Trader was the industry standard? HSBC uses it - http://www.finextra.com/fullstory.asp?id=15475
 
What are you calling smaller and why is it important? When I was a broker everyone used a phone monkey but you are right some firm now prefer to go direct though most are happy to pay tiny comms to remove execution risk and get money spent on them by their brokers it is still a people business.
 
Quote from ginux:

Are TT and IB popular among the smaller hedge funds for order execution? Esp. those using automated trading systems
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Prime Broker's API or FIX... if it's a small ATS-type HF.
 
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