The challenges sell-side firms have faced in 2020 and into 2021 have taught these firms some valuable lessons about the need for further digital transformation, greater control of processes and a stronger approach to operational resilience. The impact of increased volumes and volatility on trade support and operations teams has been well-covered by our earlier paper on post-trade priorities, but for firms with heavily manual processes in the middle office, these challenges have caused some to re-evaluate their operational setup. Even those using middle office outsourcing arrangements are considering other options as they face more pressure from clients and regulators to improve operational controls and reduce risk.
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