Buy-side traders may have one reason to breathe a little easier amid the pandemic-induced downturn and related market volatility. State-of-the-art, integrated, electronic transaction platforms are not likely to replace humans on the trading desks any time soon, according to researchers at market research firm Greenwich Associates. “The average number of traders on buy-side trading desks… Read More >>
Citi Cuts Trading Staff & Merges Other Groups
Citigroup is readying layoffs in the hundreds for its equity and fixed-income trading and operations staffs due to shrinking revenues from trading, according to media reports. The bank is also consolidating its equities and prime, futures and securities services (PFSS) businesses into a new division, the Equities and Securities Services (ESS) group, that will offer… Read More >>
SS&C and Advent Team Up for Geneva Upgrade
SS&C and Advent Teams Focus on Combined Clients Technology teams from financial services software and systems vendor SS&C Technologies and its recent acquisition Advent have been working closely and quickly to deliver Geneva, version 15.2, the latest release of the fund administration platform for their joint fund administration clients. Originally an Advent product, Geneva offers… Read More >>
Buy Side Still Values Human Talent Over IT
While the need for the right technology is important for optimizing fixed income trading, it appears that the human touch still carries the day for buy-side firms as the bulk of their “increased spending in fixed income went to trader compensation,” according to a new report from market research firm Greenwich Associates. The new emphasis… Read More >>
