Trade Ideas Limited (TIL), the industry utility established by Citi, Credit Suisse, Dresdner Kleinwort and Merrill Lynch to facilitate the expanding use of equity trade ideas industry-wide, today reported the following activity for January 2008:
277 brokerage firms, hedge funds and traditional long only investment managers in the UK, US and Far East had joined the trade idea platform an increase of 116 firms, or 72% from a year ago.
A record 15,594 new equity trade ideas were entered into the Repository and Distribution Centre in January 2008, up 152% from 6,191 ideas entered the same month a year ago. The previous record for ideas entered was 8,578 in November 2007 . A total of 112,269 ideas have been entered into the RDC since its launch in October 2005, reflecting 290% growth since January 2007.
“The turbulent markets, combined with increased usage of trade ideas, resulted in institutional brokers submitting a record number of recommendations for their clients in January,” says Simon Tizard, executive director, TIL.
“January’s activity saw the platform break through the 100,000 idea barrier, becoming the largest database of institutional brokers’ trade ideas, and the performance of those brokers and their ideas, in the industry,” said Colin Berthoud, director, youDevise Limited.