HSBC joins broker-dealer outsourcing fray
HSBC becomes the latest global custodian to offer broker outsourcing services to top-tier broker-dealers. But some analysts say smaller brokers would gain more from these services.
Competition among custodians offering middle-office outsourcing is heating up, with HSBC becoming the latest bank to offer these services to broker-dealers in Asia.
Last year, Citi and UBS teamed up to offer middle- and back-office post-trade services to broker-dealers across Asia Pacific, a partnership that surprised a number of participants, given the two banks have equity desks competing in many global markets. Other custodians providing middle- and back-office outsourcing incl…
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