Some firms have separate systems for different asset classes, such as foreign exchange, equities, and options.

FORBES: Chicago's Sun Trading Consolidates Asset Classes on Kx

Rather, they hold fixed allocations in several asset classes using low-cost index funds or exchange-traded funds (ETFs) and rebalance their portfolios back to a target as needed.

FORBES: Want Lower Returns? Try Timing Industry Sectors

Trade Exchange appears to believe there is enough hunger among hedge funds and other institutions for new classes of investments to trade.

FORBES: Betting The Farm On The Weather

When implementing asset allocation strategies, I have found that it is becoming increasingly more common to utilize exchange-traded products (ETPs) in addition to mutual funds, stocks and bonds, for certain asset classes, styles and sectors.

FORBES: It's Not Really A Lost Decade