Buy-Side Firms Still Need Sell Side, Say Panelists
Although buy-side firms have increased their product knowledge, they still derive value from the sell side, said Eugene Choe, director of Credit Suisse's Advanced Execution Services (AES), at the Securities Industry & Financial Markets Association's recent e-technology conference.
"No single buy-side firm can navigate as well as Credit Suisse or the other firms represented on this panel--Goldman Sachs, Merrill Lynch and Morgan Stanley," said Choe during a panel discussion about the changing execution landscape. "We can empower them with the right tools and show how to use these tools." The buy side may have become more sophisticated, he noted, but the sell side in recent years has bolstered its offerings--expanding into derivatives and prime brokerage, for example.
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