Trading Assistance Need Sharpened by Covid-19
Cowen Outsourced Trading: Best Outsourced Trading Solution Provider – The near immediate global lockdown that resulted because of the Covid-19 pandemic and the shelter-at-home policies that followed has to be the biggest challenge clients have faced this year. The struggles they encountered led to a sharpened need for trading assistance and connectivity.
While most investment managers had well-designed business continuity plans in place, few, if any, had work-from-home built into such plans. “We received significant inquiry for assistance in executing trades and managing trade flow to away brokers. This appears to have largely been driven by technology issues, including the lack of proper equipment and sufficient bandwidth/connectivity at peoples’ homes,” comments Jack Seibald Managing Director and Global Co-Head of Prime Brokerage & Outsourced Trading at Cowen.
He explains how even firms which had robust BCPs in place did not expect this way of working to be in place for an extended period of time. Discussing investment and trading strategies during the heightened volatility is difficult when teams are working remotely. Hence, there is an increased need for connectivity through a firm like Cowen.