A crap week for those in the investment banking space, but should we expect a wave of closure of liquidity venues to hit the headlines shortly? If a third of banks need to dissappear in order to cleanse and rejuvenate the market, surely we are at risk of ending up with more venues than there are liquidity providers to adequately support them? …albeit you could argue were in that space now given a lack of liquidity already.
September 17, 2008
More venues than banks..