London-based industry utility Trade Ideas Limited (TIL) is gaining traction. At year-end 2007, TIL membership included 265 brokerages, hedge funds and traditional long-only investment managers in the U.S., U.K. and Asia, up from 141 in 2006. TIL is an industry consortium established by Citi, Credit Suisse, Dresdner Kleinwort and Merrill Lynch to support the financial industry's sharing and use of client-specific long or short trading recommendations, known as trade ideas, instead of relying on traditional brokerage research.
In addition to adding new institutional members, the number of trade ideas entered into TIL's repository and distribution center skyrocketed. December 2007 saw 6,364 new trade ideas, an increase of 272 percent over december 2006.