Baptism of fire

Buy-side firms have, as a result of the ongoing culture of fear associated with counterparty risk exposure, been forced to reassess and more actively manage multiple facets of their business, including collateral agreements, commission sharing arrangements (CSAs) and how much to rely on brokers for technology, infrastructure, and data. But the challenge is not an insignificant one, especially when considering how the more complex the instruments are that managers and their counterparties deal in