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brokerage firm Merrill Lynch has agreed to pay out [pounds sterling]160m in a racial discrimination case.
Last year some of the leading bulge-bracket
firms combined their equities sales/voice broking and equities electronic trading divisions.
Also, are the apparent conflicts of a bulge-bracket
firm simply too difficult for a fiduciary to ignore?
CIOs, CTOs and heads of technology tell TABB that in addition to meeting increased latency reduction requirements, they are being asked to expand network capacity, make more efficient use of data center space - nearly half are now consolidating or migrating data centers - and, because the average bulge-bracket
broker spends nearly $30 million annually on excess compute power, increase utilisation of their share of the 93,000 sell-side servers running their US equities businesses.
banks such as Morgan Stanley and Lehman Brothers have also boosted their teams in the region in recent months.
This measure is aimed at getting a foothold for a competitive securities company to be a bulge-bracket
firm in line with the enforcement of the Financial Investment Services and Capital Market Act.
It's the way fiduciaries, institutions, bulge-bracket
firms (the most elite investment banks) and wealthy individuals that are determined to stay wealthy invest.
5 billion in new bond issues in his first 18 months in business, the entrepreneur found himself struggling to survive in a market that forced even many bulge-bracket
firms out of the bond business.
US private equity group KKR is set to buy a majority stake in the 15-year-old advisory, asset and wealth management company in a unique deal that aims to create a full-service "new generation" financial service platform leveraging Avendus' robust, existing tech-centric niche.
Summary paragraph: A new business model has been established to let banks and brokers compete on a par with bulge-bracket
firms in the fragmented equity execution space - outsourcing could prove the solution, says Alessandro Bressan, director, equities electronic trading at Deutsche Bank.