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Asset managers in Europe and the U.S. will cut more than $300 million from external research budgets after the regulations come into force in January, according to consulting firm Greenwich Associates.

Goldman Sachs was ranked by Greenwich Associates as joint second alongside JP Morgan in global fixed income market share for 2016, and joint top with Citi in global rates trading.

Kevin McPartland discusses the high levels of co-opetition on Wall Street, the causes behind it, and the role startups play in keeping the big players honest.

Over the past few years, as ETF assets have grown to more than $2.9 trillion in the United States, "many institutions are introducing (ETFs) into their portfolios to enhance liquidity and reduce costs," wrote Greenwich Associates in its 2016 U.S....

“It’s not going to come back,” said Richard Johnson. “For a few years after the crisis, people were in denial and kept their business running as it had been. It’s not going to get back to that level, people have to accept that.”

The pool of U.S. equity commissions earned by brokers contracted last year by more than 11% to $8.4 billion in the first quarter of 2017, from $9.7 billion in Q1 2016, according to a report by Greenwich Associates.

Barclays was the only European bank to feature on Greenwich Associates’ most recent U.S. and global tables for fixed income market share table, for 2016. It’s only in equities that Barclays lags, both in the U.S. and globally. And the bank is trying...

“The institutions participating in our 2017 study were predicting a 3-4% increase in the equity commission pool to nearly $9 billion by Q1 2018,” said Jay Bennett. 

Greenwich Associates surveyed fund managers and traders and concluded that asset managers in Europe and the U.S. would cut more than $300 million from external research budgets.

Business Insider journalists add Kevin McPartland to their list of must-follow tweeters for a mix of sharp analysis, killer humor, serious personality, and breakthrough insight.