Cover Story: Full Disclosure
19.05.12
"We get some data on order routing but would like more data and transparency regarding this process," said William Quinn, senior equity trader at San Francisco-based money manager HighMark Capital Management, which manages $5 billion in equities. That's because the way brokers route orders may or may not be consistent with what is best for clients, said Cronin, whose firm runs $271 billion in equities worldwide. According to Kevin Cronin, global head of equity trading at Invesco, it is necessary to know where your orders are routed to fulfill your fiduciary responsibility as a money manager. , said he gets some information about where his orders go. But it is not enough for him and his firm with $16 billion in assets. Dennis Fox, head trader at Munder Capital Management in Birmingham, Mich. Fox wants greater clarity about his brokers' routing practices.
Source: Traders Magazine