Buy-side Firms Reject EMS Brokerage Charges

tied together — EMSs connect users to multiple sources of liquidity - but how they charge for the service is contentious

- Luke Clancy
- 08 Jul 2020

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Leading buy-side firms are calling time on the brokerage charging models used by some liquidity aggregators, joining dealers in a growing protest.

In at least two cases, buy-side users of an aggregator have been able to push the vendor into applying an annual license fee instead of per-trade charges.

“There has always been a lot of contention around the way in which EMS and platform fees are charged,” says Ken Monahan, senior analyst on the market structure and technology team at Greenwich

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@waterstechnology.com

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@waterstechnology.com

More on Trading Tech

Better tech brings threat of two-speed trading in fixed income

Smaller asset managers may get left behind as automation allows the big players to prosper.

30 Nov 2023

Waters Wrap: Examining ASX’s CHESS do-over

The Australian exchange was the first exchange to be all-in on DLT—and the project failed. Anthony speaks with ASX’s Tim Whiteley to discuss the lessons learned and why he thinks the second attempt will succeed.

27 Nov 2023

Can machine learning help predict recessions? Not really

Artificial intelligence models stumble on noisy data and lack of interpretability

22 Nov 2023

GenAI and HFT: A competitive edge?

Timing is critical in the capital markets. IBM researchers say genAI’s predictive abilities in combination with AI/ML models can translate into profitable HFT opportunities.