Efforts to transform fixed income trading may take longer than many banks and their clients are expecting, according to research from Greenwich Associates. According to the research firm, fixed-income dealers are finding that technology and algorithms are not entirely portable from one platform to another although subtle nuances can be incorporated. The report comes as Morgan Stanley and coldman sachs are moving aggressively to reshape fixed income trading groups to include more electronic elements that define equity trading. Goldman last week unveiled plans to consolidate electronic trading capabilities across FICC.
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