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Exchange Traded Corps?

John Harris Ceylon, Tabb Forum, Exchange Trading of Corporate Bonds Must Wait, here. Maybe they can learn to swap out those future fixed coupons? Rotoworld hosed the Lead Farmers by not telling us that  ZBo was possibly going to leave the game to witness the birth of his child. Wired Thompson and Nash and pulled Metta and Bargs on the Chandler broken leg news. Minutes for Metta. Minutes for Metta.

Dealers are reluctant to let any customer trades flow elsewhere. The risk is too great that new venues will expand into new markets. All dealers of any substance attempt to estimate what share of a customer’s total available business they receive. As a tactical matter, dealers will even lose money to win greater shares of such business. So I put little stock in the notion that dealers are ready to concede anything in the corporate bond market.

But let us consider the customer side of the ledger. Are large asset managers so frustrated with dealer commitments to corporate bonds that they would lead a stampede to alternative venues?

I doubt it. Large asset managers are beholden to large dealers. Almost 20 years into the Internet revolution, I have yet to see one of these large asset management firms step out of line and challenge the prevailing market structure. I have heard several of them say, “Yes, we would love an alternative and would use it.” But when push comes to shove, timidity prevails.

Rich Brueckner, Inside HPC, Intel Parallel Universe Computing Challenge Coming to SC13, here.  I can hear the crowd chanting now- “rewrite it in Java so you can burn an FPGA and run it in a Dataflow Architecture.”

The Intel Parallel Universe Computing Challenge is an 8-team single elimination tournament designed to raise awareness of the importance of parallelization for improving the performance of technical computing applications. The competition has been developed as a highly entertaining stage show and will be hosted by Mike Bernhardt, Publisher of The Exascale Report ™.

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