Vendor Update: 'Holy Grail' of Trading Spurs Mergers

DWT 2004 ANNUAL REVIEW

LONDON—This year saw a significant revival of mergers and acquisitions (M&A) in the securities trading sector with vendors and some user firms pursuing the holy grail of trading technology—fully integrated cross-asset, cross-platform solutions.

As would be expected, different players see integration in different ways.

Some have sought to integrate vertically along the supply chain, delivering solutions that can offer front, middle- and back-office functions via the same platform. Others have

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