Smiling through a bear market

Headline: Smiling through a bear marketSource: EuromoneyDate: October 2001Author: Rick Butler Whether it’s labelled programme trading or portfolio trading, the provision of cut-rate execution for liquid securities is a cash cow for banks and brokers. Despite low margins and dismal prevailing market conditions, institutions are still piling into the business. Just how high can an […]

Headline: Smiling through a bear market
Source: Euromoney
Date: October 2001
Author: Rick Butler

Whether it’s labelled programme trading or portfolio trading, the provision of cut-rate execution for liquid securities is a cash cow for banks and brokers. Despite low margins and dismal prevailing market conditions, institutions are still piling into the business. Just how high can an essentially commoditized service rise?

       
Tony Nash
With market indices tumbling in the face of a looming global recession and revenues down for activities ranging from investment banking and corporate finance advisory to asset management and retail broking, it’s difficult to find a smiling face in financial services.






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