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Capital Markets

Information services: A new vehicle for trade ideas

Banks get together to create industry utility.

Citigroup, CSFB, Dresdner Kleinwort Wasserstein and Merrill Lynch have teamed up to launch a new industry utility for the distribution of trade ideas.

Similar in concept to multibroker research platforms such as Multex, the utility, aptly named Trade Ideas, acts as a central repository and distribution centre for equity trade ideas.

Fund managers and other clients will be able to access all the trade ideas of member brokers with which they have a relationship from a single convenient platform. The hope, however, is that Trade Ideas will attract more members and become an industry-wide utility.

“The project began 18 months ago as a result of an increased demand from the buy side for a better way to quantify the performance and value of ideas,” says Stuart Berwick, head of eSales at DrKW. “Initially, the demand was led by hedge funds but it stretches across the board.

“For the sell side, the stringency of the regulatory environment has made it extremely important to keep track of all ideas that are marketed to clients. Given these two drivers, the concept of an industry utility through which information would flow, makes perfect sense.”

The utility, if it takes off, would have many advantages over the current way in which trade ideas are distributed.

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