European buy-side traders may cut the number of brokers they work with after new rules requiring the unbundling of research and trading fees take effect next year, according to Greenwich Associates.
Twenty-seven percent of 55 traders surveyed by Greenwich from March to April said they expect to cut two to five brokers from their network after the second phase of the Markets in Financial Instruments Directives is implemented in Europe in January, the consulting firm said in a report released Thursday. Eighte