U.S. institutional investors are the global leaders when it comes to exchange-traded fund (ETF) investing. Institutional investments in ETFs increased significantly in the United States in...

This report presents the results of a Greenwich Associates study of U.S. insurance company investments in exchange traded funds (ETFs). We interviewed 52 insurance companies, with total assets of...

In 2018, Greenwich Associates noted that investors' spending had reached equilibrium. 2019 starts to buck the trend as budgets are increasing. To fully understand the dynamics of the buy-side...

Traders are supportive of the Transaction Fee Pilot but won't miss the Tick Size Pilot, and they are sympathetic to the sell side's arguments around exchange market data pricing. On other issues...

We have examined in previous years a variety of structural issues in the swaps market that discourage new entrants from stepping into the fray. The capital intensity of the business is the...

An interesting facet of market structure is how flexible markets can be, twisting and turning to conform with the nature of the product, the legal and regulatory environment in which they operate...

We are now just over one year into the great MiFID II trading transformation. Execution has been unbundled from research, requiring asset managers to focus more on execution quality and brokers,...

The boom in new corporate bond trading platforms is over. Institutional corporate bond investors have voted with their feet, utilizing those tools that work best within the current market...

Market structure change over the past decade has been directly or indirectly catalyzed by the credit crisis of 2008. It can be argued that everything from cryptocurrency to swaps clearing to...

ETFs have taken on a prominent role in the investment portfolios of U.S. registered investment advisors (RIAs), who use the funds in a broad range of tactical and strategic functions. In this...