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Sellside brokers wake up to the HFT threat

Union's talks with the market-maker Virtu could be the tip of the iceberg that threatens the traditional role of banks as agency brokers

Sellside brokers wake up to the HFT threat
Photo: iStockPhoto

It was less than a year ago that high frequency trading executives began rubbing shoulders with the usual crowd of sellside brokers, buyside dealers and exchanges at European equity trading conferences. Already those efforts are paying off.

Financial News revealed on October 17 that German asset manager Union Investment was in talks to appoint electronic market-maker Virtu as an agency broker in Europe.

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