Our survey asked about the number
of separate business relationships
that a fund maintained with different
groups within an investment bank.
While responses varied, a large
number of trading desk relationships
are maintained by a substantial
number of fund managers, with 30
percent saying they have over 100
different trading desk relationships.
For fund administration and custody, fund
managers sought to have a sufficient
number of relationships so as to ensure
competitive pricing and to cover any risks
of a main supplier failing.
Electronic trading is now the
dominant form of trading across most
We asked clients how the proportion
of electronic trading of a range of
instruments had changed since 2008.
These instruments were commoditized
(flow) equity derivative, commoditized
(flow) fixed income derivatives, Cash
Equity, Cash Fixed Income, Foreign
Exchange and Commodities.
In all cases, over half of respondents felt that
electronic trading had increased.