Robots Conquered Stock Markets. Now They’re Coming for Bonds and Currencies – Bloomberg
March 8, 2019 \ 1 Comment
Full Article: Bloomberg
The stakes are huge for Wall Street banks competing in the $22 trillion market for U.S. Treasuries and corporate debt and the $5.1 trillion-a-day foreign-exchange market. Handling fixed-income products remains one of industry’s biggest revenue generators. Now firms must disrupt the old model by building out their electronic platforms, or they risk getting sidelined in the future.
It’s been a while since I’ve posted and I’m not sure if anyone noticed! I couldn’t help myself today… Here’s my take. People act in their own self interest. Why do I start with that? Because I always start with the givens and then work my way through an argument. We’ve heard for 10 years now that the sell-side has been weakened by regulation and capital restrictions and although many thought this would just be a temporary setback, it has materialized into a fundamental shift in market structure and behavior. The sell side, buy side relationship has changed. It’s no… Read more »
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