Digital Vega, Spark deal hints at wider shake-up for platforms
Two trading tech firms seek point of difference as dealers cull vendor relationships in cost-cutting drive
Options trading platform Digital Vega has entered into a strategic partnership with Spark Systems, a cash trading platform based in Singapore, in a sign of consolidation among trading tech firms as banks cut spend in this area.
Top-tier banks have announced they intend to prune the number of their vendor relationships, with Citi saying it aims to channel the vast majority of its external trades through just five platforms. Other banks have indicated they are seeking to reduce the fees they pay
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