
Bond Traders Aren’t Immune to Automation, Goldman’s CFO Says – Bloomberg
January 18, 2018 \
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Full Article: Bloomberg
Chavez, the bank’s chief financial officer and a former Silicon Valley startup founder, said that part of a spending push has been devoted to analyzing how traders, salespeople and support personnel work, and automating those processes.
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3 Comments on "Bond Traders Aren’t Immune to Automation, Goldman’s CFO Says – Bloomberg "
Is this news? The fixed income market is highly automated and supports many different execution methods appropriate for the particular product. It seems like Goldman may be playing catch up to the buy side, ie BlackRock, AB and others.
I agree, Wolfman. I think this is a defensive play by GS. And they should be doing it. Why let MarketAxess and LiquidNet and the myriad other recent startups slowly eat your lunch from the odd-lots on up? Develop your own automated, electronic platform. Sure, there’s some cannibalization, but you’re mostly reclaiming business that would otherwise be lost to some other all-to-all platform.
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