Media Coverage

Asset Managers Farm Out Trading as Costs and Complexity Climb — Reuters

A heavier regulatory burden on money managers, razor-thin margins and rapid technological developments in trading are driving many to cut costs and hire outside firms to handle their day-to-day trading. The pace of demand has accelerated this year in particular as asset managers feel the pinch following the introduction in 2018 of the EU Markets in Financial Instruments Directive (MiFID II) which slapped more onerous paperwork on them.

Outsourced Trading: The Future of the Buy-Side Desk? - The TRADE

Outsourcing hasn’t historically been linked to front-office activities and the buy-side trading desk, but the notion of outsourcing trading and execution is starting to turn heads at asset management firms, both large and small. Industry headwinds and changes in market structure due to increased regulation have seen the buy-side evaluate the tangible benefits of outsourced trading, while the future of the industry remains somewhat uncertain.

Supplemental Trading: Expanding the Reach of Buy-Side Traders — Money Management Executive

Broker dealers and asset managers are undergoing a period of significant and radical change, largely driven by regulation, advancements in trading technology and the impact of passive management. As if these challenges weren’t enough, equity commissions are down 45% since 2009. In no uncertain terms, players on both sides of the fence are being forced to rethink past practices.   

Outsourcers Eye Bigger Role in Funds’ Fixed Income Trading —

Exoé, Linear Investments and Tourmaline Partners may not be household names but they are quietly reshaping the way asset managers trade. Providers of outsourced trading such as these are enjoying fast-rising revenues and their prospects are sunny. One reason: an opportunity to venture deeper into fixed income from their traditional home of equities trading. “There are more and more firms talking to us about fixed income and how that would work,” says Chris Hurley, director of institutional sales at Dallas -based Capital Institutional Services, another provider of a service that allows firms to hand over some or all of their trade execution to an outside desk.

Outsourced Trading: Opportunity Amid Disruption — Markets Media

A recent survey of Traders Magazine readers, representing a broad spectrum of buy-and sell-side professionals, found that 28% work for firms that have either already outsourced some of their trading and back-office operations or are actively considering doing so. That may not sound like a big number, but given outsourced trading’s longstanding reputation as a niche service for hedge funds only, it qualifies as a significant figure.

CEO CHAT: Aaron Hantman, Tourmaline Partners — Markets Media

Technology and innovation continue to disrupt industries and businesses around the world, and the investment management industry is no exception. Regulation – in the form of MiFID II – now adds a new challenge to an industry already wrestling with technological change in both equity trading and research. In a conversation with Traders Magazine, Tourmaline Partners CEO Aaron Hantman and Managing Partner Tim O’Halloran discuss how these trends are impacting their business.

Tourmaline Hires Sarkis to Expand Institutional Equities

(Bloomberg) -- Christopher Sarkis has joined Tourmaline Partners LLC as a managing director in the firm’s institutional equities group. Sarkis was most recently the head of institutional equity sales at Rafferty Capital Markets for five years. Prior to that, he worked in the institutional equity group of Cantor Fitzgerald for 10 years. He joins Tourmaline after a period of “significant global growth” for the firm over the past year, according to Chief Executive Officer Aaron Hantman.