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"The banks are certainly paying tens of millions a year [in systems development]. This can be justified by making the platforms multi-asset. The pendulum is moving back towards the banks" Robert Iati, TABB |
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After examining where both buy-side and sell-side dealers are trading, Iati says that this has resulted in the market fragmenting again, after what looked like a period when it would consolidate.
“We’re seeing a shift...
