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if we have a new order , or we want to show some liquidity opportunities , we can now get a pretty much instantaneous reply back from the PM as to whether they ’ re interested .
“ Essentially , I think the communication barriers have been totally demolished , and that has really helped PMs and traders work much better together . We can work more closely , we can keep them abreast of why names are moving in portfolios , we can advise them on positioning , on flows , look at trade cost analysis or how we can enhance execution . It really has built up the trust and those relationships have flourished as a result , PMs now feel really comfortable about coming to us to explain their thinking , their concerns .
“ Another aspect is how we can trade more efficiently to reduce my execution costs , and we have a lot of analytics available to us now , along with a great quant team and some really strong visual tools . So we can look at the results , and then work together with the PMs to see how we can place orders better , whether it ’ s about timing , sending down a block , reloading , using different execution methods , sourcing new liquidity opportunities , and so on .
“ The communication and collaboration with both the PMs and the analysts is crucial , but it ’ s also worth noting that they don ’ t always understand trading to the same degree as traders , so it ’ s also important from the perspective of being able to educate them so that they understand what we ’ re trying to achieve , which means that we ’ re all pulling in the same direction .”
42 // TheTRADE // Q4 2022