Browsing: Commissions

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Key Takeaways from Unbundling Uncovered USA 2024

07/03/2024
The following is a guest article by Mike Carrodus, founder of Substantive Research, a UK-based advisory firm offering independent comparison and discovery of investment research, ESG and market data pricing ...

Shining a Spotlight on the Client Commission Costs of CSA/Soft Dollar Aggregation Platforms across Asset Owners, Asset Managers, and CSA brokers

06/24/2024
The following guest article was written by Kevin Petrello, US Commercial Lead for Research Manager at S&P Global.   Kevin has extensive experience in the areas of CSA’s, research unbundling/evaluation, 28e ...
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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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