A trader looking to get an order done in the U.S. equities market today confronts a highly fragmented marketplace with more than 35 potential venues for execution. Navigating through the market clutter will not be easy in the short term, as liquidity migrates from one location to another. Eventually, however, market consolidation appears inevitable, consolidating trading activity in a few big players.

This 43-page Aite Group report analyzes the impact of the paradigm shift away from traditional exchanges like the NYSE and NASDAQ toward Alternative Trading Systems like dark pools and ECNs. Packed with in-depth information on leading industry players, this report is a must-read for portfolio managers, traders, and anyone concerned with the future direction of the U.S. equities marketplace.