News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Electronic dealing marches ahead

Lower costs and promise of anonymity drive order flow

Electronic trading and a desire for anonymity among fund managers has eroded the power of voice brokers so that fewer than a third of institutional US equity orders are communicated by phone.

The use of voice brokers is likely to be eroded further as managers worry about the risk of their trading strategies being disclosed through the use of a third party, according to speakers at the Financial News Trading Forum in San Francisco.

WSJ Logo