Bursting the Bubble
BEFORE THE SPIN
Far be it from me to burst the bubble on a merger mania that has taken the financial technology industry by storm. However, I’m troubled by what might turn into a trend—that of user firms owning IT vendors.
Whether or not it’s a harbinger of things to come, it’s impossible to ignore the actions of the world’s largest financial services firm, Citigroup, when it announces its intentions to acquire direct market access (DMA) provider Lava Trading. Not to be outdone, the Bank of New York
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