INVESTMENT BANKS IN Europe expect to start pricing their research in dollar terms, as opposed to basis points, for the first time within the next 12 to 18 months.
The move to attach a firm price to the product, although basic in just about every other industry, will be a radical departure for the equities business and is likely to spur a redrawing and divergence of business models at brokerage houses.
This unbundling of the price of brokerage services, which was kicked off by regulators, particularly the Financial Services Authority in the UK, is now being propelled by customer demand.
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