Dealers look to cut SDP prices amid platform fee battle

JP Morgan offers different pricing for single and multi-dealer venues; Barclays mulls same approach

Platform-price-cuts

High transaction fees levied by multi-dealer platforms (MDPs) have led to at least one dealer offering more competitive pricing on its own platforms or bilateral connections, and others are considering following suit.

In some cases, dealers complain the MDP fees can wipe out all revenue on a trade.

Dealers have complained for some time that the cost of doing business on MDPs, which aggregate liquidity by bringing together market participants, has eaten into margins, especially in markets like

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