Mostly… fixed income and cross product eTrading

July 12, 2007

The Good The Bad And The Ugly – Next Year

Filed under: 2015, etrading — holky @ 7:54 pm

I see a challenge to the “complex rating algorithm” that waratah used to great effect in that the good the bad and the ugly post (rating dealers FI etrading offerings), meaning next year’s update should look dramatically different;

Firstly if its a dodgy outlook for debt markets will some of the 2’s divest themselves of appetite of being a global investment bank, and instead focus their efforts on the markets where they can still make money; with product focus aiming to be exceptionally good at what they are good at – and “dang” (or just white label) the rest.

With technology increasingly able to consolidate a fragmented market into a single customer view, and the STP benefits of etrading making trade flow fairly predictable once the setup is setup (!), is it such a nightmare on the customer side to use specialists for each area you wish to trade?  Some way to go on this in FI maybe, but the etrading industry generally can do this (as here)

Does this mean that new “important” dealer names will emerge (like Jefferies appearing in the recent here is the city news firm ratings), and next years TGTBTU will be rating in product silos, rather than on the basis of a truly global offering (and if you check this post , youll see that being really global rather than international is still going to be a big hurlde for many anyway).

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1 Comment »

  1. Well, add the uncertain outlook in debt markets to the forming duopoly of Bloomberg/New Reuters in FI e-trading and the rosie outlook doesn’t look so rosie….. 😦

    I think my complex algo, with some tuning by the resident waratah Ph.D, will still be relevant. However I agree the ranking could be in for a shake up.

    Comment by waratah — July 13, 2007 @ 6:53 am


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