The Rapid Rise Of Outsourcing: More Firms Are Throwing In the Self-Clearing Towel
Traders Magazine, March 2004
Many financial firms find it efficient these days to outsource trade clearing functions at the same time that there are fewer competitors in this difficult business. And continued consolidation is inevitable, several players say. "In the mid-1990s, there were probably 135 correspondent clearing groups," says Norm Malo, president of National Financial, the correspondent clearing arm for Fidelity Investments. "Today there are less than 75. In five years, there may be less than 50."
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