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Program trading desks adapt as volumes fall

Georgina Lee
As the buy-side shifts to electronic trading for low-touch orders, banks' program trading desks are redefining themselves to assume more of a hand-holding role.
Program trading desks adapt as volumes fall

Asset managers have been cutting back on sending orders to brokers’ program trading desks in favour of self-managing their flows using algorithms that send orders directly to exchanges, or through their brokers' electronic trading desks.

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