Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BlackRock's Fink Attacks Trading Fees Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 17, 2009

BlackRock's Fink Attacks Trading Fees

News summary by MFWire's editors

BlackRock CEO Larry Fink told Bloomberg Thursday that technology the fund giant is developing could lower the billions of dollars in fees and commissions it annually pays to broker-dealers.

“We need to find ways to bring down that trading friction cost, we need to make sure we’re not being taken advantage of,” Fink told Bloomberg. “Hopefully our counterparties, our dealers, will make less money from us and our clients are going to make more returns.”

Fink said that Wall Street commissions and fees cost BlackRock under $10 billion per year.

Erik Schatzker and Christine Harper of Bloomberg wrote that the consolidation and collapse of securities firms in the past year has reduced competition, sending lending and trading premiums higher.

“There’s no question, you have seen huge profitability in some of these institutions,” Fink said. “The widest bid-ask spreads are in fixed income -- the more opaque the market, the more money the market makers are making.” 

Edited by: Adam Kommel


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use