Broker-Dealers Eye Common Technical Standards
By Phillip Stafford
Published December 4 2011 Financial Times
Many of the world’s largest broker-dealers are working to agree technical standards for open-source software in a move that could help open electronic trading in fixed-income markets to new entrants. Discussions between a group of 13 banks, which include Morgan Stanley, Deutsche Bank and Goldman Sachs, over IT standards are at an advanced stage with an announcement expected early in the new year. They hope the development will cut rising IT costs and kick-start changes similar to those that have transformed equity trading in recent years.
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