Banks and prop shops expect more trading tie-ups

Risk Live: White-labelling a new battleground, with Barclays, BNP, Citadel and Jump touting price streams

Bank and non-bank dealers expect electronic trading to continue spreading into fixed income markets – bringing the two groups of firms into more frequent competition, but also creating chances for them to work together.

“There is convergence, a definite overlap in the business we’re doing,” said Alex Shterenberg, global head of emerging markets and G10 electronic foreign exchange trading with Barclays in London. “But despite that convergence, I think the business models are different enough