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The Great Migration

Sales traders flock to independent shops for greener pastures

Traders Magazine, July 2008

James Ramage

One man's loss is another man's gain. That sums up the world of sales trading today, as money managers have slashed their high-touch commission spend at full-service shops and shifted more of their business to small but scrappy independent brokerage firms. The result has been a steady flow of sales traders-over the past two years or so-out the doors of large, full-service firms and into the open arms of the "eat-what-you-kill" institutional brokerages.

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