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The 20 greatest trading innovations

The TRADE

Systematic internalisers (SIs) Next up in The TRADE’s innovation rundown are systematic internalisers (SIs). Usually hosted by bulge bracket banks, SIs are an internalising mechanism that allow banks to execute flow over the counter or off exchange. The first ETF to launch in the US was the SPDR S&P 500 ETF (SPY) in 1993.

Trading 120