2024 Outsourced Trading Survey

The second year of the survey was shaped by two recurring themes: that outsourced trading is often described as “easy to do and difficult to get right”, and the arrival of what many participants referred to as “the 800lb gorilla”.
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There were also several notable market developments during the year. Cowen, which became TD Cowen following its acquisition by TD, moved its prime broking and outsourced trading business to Marex ahead of the 2024 survey.

Meanwhile, BNY generated one of the year’s most significant headlines with the announcement of an outsourced trading arrangement with Goldmnan Sachs Asset Management.

Co-sourced, or hybrid, trading also moved firmly into the mainstream. Under this model, in-house trading teams retain responsibility for execution while engaging external partners to support specific asset classes or time zones where they lack the scale, coverage or specialist expertise to execute to the same standard as their core, day-to-day activity.