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 last January.
Januarys 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 of youDevise Limited.
In addition, 277 hedge funds, brokerage firms and traditional long-only investment managers in the UK, U.S. and Far East had joined the trade idea platform.
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, said Simon Tizard, executive director of Trade Ideas Limited.
Tizard said brokers are compensated by their clients for developing these trade ideas.