Building an In House Trading function
Building or rebuilding a trading desk is one of the most consequential operational decisions an asset manager or asset owner can make. Whether driven by growth, a change in investment strategy, regulatory pressure or dissatisfaction with an existing model, desk builds require careful alignment between people, process, technology and governance.
A trading desk build is rarely just about hiring traders. It involves defining roles and responsibilities, clarifying decision rights, selecting and integrating OMS, EMS and market data, establishing broker and counterparty frameworks, and embedding Best Execution, risk and compliance processes from the outset. When these elements are not designed together, firms can end up with fragile operating models that are difficult to scale or defend.
Common challenges arise around resourcing and coverage, particularly across asset classes and time zones, as well as around data quality, workflow design and documentation. Desk builds can also struggle when policies and governance are written in isolation from how trading actually operates, creating gaps between intent and execution that become visible under regulatory or due diligence scrutiny.
Ergo Consultancy supports clients through end-to-end trading desk build projects. This typically starts with a diagnostic of current and future trading requirements, followed by the design of a target operating model that reflects how the firm trades in practice. We advise on desk structure, headcount, technology selection, broker frameworks and governance, ensuring that the build is proportionate, scalable and aligned with regulatory expectations.
For firms transitioning away from fully outsourced models, or for asset managers and asset owners moving away from portfolio managers executing their own trades, desk builds often involve staged implementation and interim support to reduce execution risk. In many cases, separating investment decision-making from trade execution represents a meaningful improvement in control, governance and consistency of outcomes. The objective is not simply to stand up a desk, but to create a resilient trading function that supports investment outcomes, protects traders and senior management, and can evolve as markets, strategies and the business change.
A trading desk build is rarely just about hiring traders. It involves defining roles and responsibilities, clarifying decision rights, selecting and integrating OMS, EMS and market data, establishing broker and counterparty frameworks, and embedding Best Execution, risk and compliance processes from the outset. When these elements are not designed together, firms can end up with fragile operating models that are difficult to scale or defend.
Common challenges arise around resourcing and coverage, particularly across asset classes and time zones, as well as around data quality, workflow design and documentation. Desk builds can also struggle when policies and governance are written in isolation from how trading actually operates, creating gaps between intent and execution that become visible under regulatory or due diligence scrutiny.
Ergo Consultancy supports clients through end-to-end trading desk build projects. This typically starts with a diagnostic of current and future trading requirements, followed by the design of a target operating model that reflects how the firm trades in practice. We advise on desk structure, headcount, technology selection, broker frameworks and governance, ensuring that the build is proportionate, scalable and aligned with regulatory expectations.
For firms transitioning away from fully outsourced models, or for asset managers and asset owners moving away from portfolio managers executing their own trades, desk builds often involve staged implementation and interim support to reduce execution risk. In many cases, separating investment decision-making from trade execution represents a meaningful improvement in control, governance and consistency of outcomes. The objective is not simply to stand up a desk, but to create a resilient trading function that supports investment outcomes, protects traders and senior management, and can evolve as markets, strategies and the business change.