The Changing Path of Derivatives Trading
For listed instruments, we're seeing the adoption of trading algorithms and direct market access (DMA) offerings to help buy-side traders deal with the shrinking spreads and increased liquidity. On the OTC side, front-office automation is helping dealers generate contracts faster and more efficiently. The down side, however, is that the lifespan of new exotic products is now shorter than ever and getting shorter all the time.
Even the trading venues are changing. Several global dealers have
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