Browsing: Commissions

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Squaring The Circle:  Commission Sharing Arrangements are the best payment method for U.S. investment research following the expiry of the SEC “No Action” Letter

04/15/2024
The following guest article was written by Francis Land, founder and principal at FHDL Consulting.  Francis has worked in equity capital markets for 29 years and specialises in research evaluation ...
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Majority of European IRPs Expect Buy-Side Firms to “Rebundle”

03/28/2024
The seventh annual survey conducted by trade association Euro IRP found that 60% of IRPs believe that asset managers will move to using client money to pay for external research ...
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Will Clients Agree With UK Asset Managers’ Possible Move to Using Commissions to Pay for Research Once Again?

11/13/2023
Since July 2023, the UK asset management industry has been discussing whether the research payment optionality proposed by Rachel Kent in her UK Investment Research Review is realistic, particularly since ...

Extending SEC “No Action” Will Harm US Investors

03/13/2023
Recently, Harvard Law School Professor, Howell E. Jackson and CEO of Healthy Markets Association, Tyler Gellasch published an article arguing that “if the SEC [extends its “no action” letter], public ...
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2022 US Equity Commissions Fell 18% According to Bloomberg

02/14/2023
U.S. institutional equity commissions shrank to $7.3 billion in 2022, down $1.6 billion from a buoyant $8.9 billion in 2021.  IPO volumes fell as market values collapsed, creating a more ...
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US Equity Commissions Resume Decline, Falling 10% in Latest Coalition Greenwich Survey

08/31/2022
The downward trend in US equity commissions reasserted itself after a brief respite during the frenzied pandemic trading, shrinking 10.1% for the 12 months ended March 2022, according to the ...
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2021 US Equity Commissions Jumped 25% According Bloomberg

03/02/2022
U.S. institutional equity commissions surged to $8.9 billion in 2021, the highest amount since MiFID II’s unbundling provisions impacted spending.  Demand for IPOs appeared to be a major factor in ...
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Commission Rates Fell in 2021 Despite Higher Trading Activity

02/22/2022
Higher trading volumes during 2021 were accompanied by lower commission rates in the US and Europe – but not in the UK, according to data from Virtu Financial (formerly ITG).  ...
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Survey: US Research Spending Increased 30% in 2021

02/15/2022
A buy-side survey conducted by Virtu in the fourth quarter of 2021 found that research wallets and spending grew 30% in 2021.  Since over half of the mostly US-based respondents ...
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US Equity Commissions Up 10% During Pandemic in Latest Coalition Greenwich Survey

10/19/2021
US equity commissions grew 10.3% for the 12 months ended March 2021, according to the latest Coalition Greenwich survey.  Commissions increased to $7.36 billion as of the first quarter of ...
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