A shift in the balance of power

For decades, buy-side firms have had to rely on the sell side for the high-priced tools they need to underpin just about every business process that constitutes their day-to-day operations; everything from order management systems to large servers came courtesy of their 'better off' and more decked-out counterparts on the sell side. In exchange for the buy side's business, nothing was too good for the broker-dealers.

This imbalance has changed somewhat thanks to more affordable hardware and

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