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.
Tim O’Halloran, Managing Director at Tourmaline Partners, answers questions on the global impact of MiFID II and the rapid growth of outsourced trading in this interview with HFM Technology.
A new Greenwich Associates report, Outsourced Trading: Helping the Buy Side Improve Execution and Enhance Operational Efficiency investigates outsourced trading and the perception of U.S. institutional asset management and hedge fund professionals toward this growing industry.
Institutional asset managers are increasingly turning to outsourced trading desks to meet the challenges of heightened best execution requirements, market structure changes and shrinking commissions, a new report by Greenwich Associates reveals.
Outsourced trading business Tourmaline Partners has hired former SAC Capital trader Seth Hoenig and ex-HSBC and JP Morgan senior trader Aidan Toomey as managing directors.
More and more buy-side firms are re-examining ways to improve their workflow and operational efficiencies as market regulations like MiFID II eliminate many past practices such as research bundling and soft dollaring.
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.
(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.