Buy Side Gains Greater Control
IN REVIEW 2004
Once the buy side had "a Bloomberg" on the desk, it had independent real-time price information. The growing asset management community now had some leverage, yet it still "outsourced all the intellectual work of developing strategies" and the "execution of these strategies" to the sell side," says serial entrepreneur Seth Merrin. "The order management system (OMS), the enabling technology for the buy side, changed the business for all market participants," says Merrin, credited for launching
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