The past few years have been very tough for smaller broker-dealers. As the dynamics between the buyside and sellside have shifted in favor of the buyside, brokerage firms have had to adapt. Just look at Triad Securities.
This is abig year for the prime brokerage services firm. It is celebrating its 40thanniversary in a market where new IPOs are slowing down thanks to market volatility. While other sellside firms might rest on their laurels, this agency-only firm is venturing into fixed income trading and new technology offerings for its clients.
Triad Securities invited Traders to visit its headquarterson Broadway in the financial district. The sellside firm occupies a series of small offices not far from Trinity Church. When you walk into Triad Securities, you hear a sound that is familiar to any parent of a teenager a decade ago: the gloopy sound effect that a new message has arrived on AIM. Instant messaging is very important to Triad: More than a few Triad employees proudly proclaim that there is no voicemail at the firm. If a client has a problem or a concern, they can reach out to a Triad technologist, trader or sales rep via phone, e-mail or IM.
Tradersasked thekey players inside Triad Securitiesabout the challenges of being a prime brokerage firm, their day-today responsibilities and how a small-scale firm can compete in a crowded field as the sellside contracts. Part One of our photo feature appeared last month.
To view otherTradersslideshows – like scenes from the recentMid-Atlantic Security Traders Association Conferenceor theFlorida STA Conference in Orlando– please visit theTraders Photos page.
