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| Buy-side dealer: In illiquid markets trade indications are of great interest |
The launch of an innovative new service for brokers to communicate indications of interest (IOIs) and trade advertisements to dealers at buy-side firms brings new competition that may benefit investors searching for liquidity in the securities markets.
IOIs in buying or selling a security – which contrast with firm price quotes in specified sizes – are increasingly important. In Europe they are a useful tool for fund managers under regulatory pressure to prove that they are seeking best execution.
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