[ I N D E P T H | C O U N T E R P A R T Y R E L A T I O N S H I P S ]
These have allowed traders to reduce their reliance on the sell-side in the traditional capacity when it comes to smaller and easy to execute flow and focus their efforts on more complex orders and strategies .
In short , the buy-side is relying on the sell-side differently . But that ’ s not to say they don ’ t need them anymore . In today ’ s fragmented environment of platforms and venues , the act of sourcing liquidity has changed . The buy-side is therefore increasingly leaning on sell-side relationships to ensure access
“ The buy-side pay all the bills in the industry - they decide whether they selfexecute or execute through the sellside . The decision process , in reality , is always with them .”
KEITH TODD , CHIEF EXECUTIVE AT TRADING
TECHNOLOGIES
Issue 81 // thetradenews . com // 13