--- title: Mid-Sized Brokers Squeezed description: Mid-Sized Brokers Squeezed --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/mid-sized-brokers-squeezed#popup-newsletter) #### Want the latest news on securities markets -- FREE? Sign up to receive exclusive articles on topics including: - Equity market structure - Profiles of buy-side investment firms - The evolution of multi-asset-class trading - Regulation and its implications for markets - The search for liquidity in fixed income markets - The convergence of fintech and capital markets Select one or more newsletters you would like to receive: menu [![Markerts media](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/header%20logo.svg "Markerts media")](https://articles.marketsmedia.com/) - [Latest News](https://articles.marketsmedia.com/tag/latest-news) - Latest News - Mid-Sized Brokers Squeezed Search - [Home](https://articles.marketsmedia.com/) - [Trending](https://articles.marketsmedia.com/tag/trending) - [Featured](https://articles.marketsmedia.com/tag/daily-email-feature) - [Sectors](https://articles.marketsmedia.com/tag/sectors) - [From The Markets](https://articles.marketsmedia.com/tag/from-the-markets) - [AWARDS](https://articles.marketsmedia.com/tag/events) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Newsletter](https://articles.marketsmedia.com/mid-sized-brokers-squeezed#popup-newsletter) Hide search Search - NewsLetter ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/trading-up-occ-iex-select-board-members-citadel-lands-lieblich-573x379-Jul-07-2022-09-34-11-57-AM.jpg) [ON THE MOVE: Citi Hires Artie Ambrose;...](https://articles.marketsmedia.com/on-the-move-citi-hires-artie-ambrose-natalie-a-brown-to-mesirow) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_445735906_L.jpg) [Trading Adapts to ESG and Sustainable...](https://articles.marketsmedia.com/trading-adapts-to-esg-and-sustainable-investing) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-917493152-Jul-07-2022-09-34-19-09-AM.jpg) [Focus on FX Execution Connectivity](https://articles.marketsmedia.com/focus-on-fx-execution-connectivity) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_333839538_L.jpg) [TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20) 04.26.2012 By Terry Flanagan Latest News # Mid-Sized Brokers Squeezed 04.26.2012 By Terry Flanagan [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/mid-sized-brokers-squeezed) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/mid-sized-brokers-squeezed) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/mid-sized-brokers-squeezed) A challenging market is spotlighting the broker-dealer sector, and only those with the strongest offerings can be confident in their future. Large broker-dealers with a strong research product should be safe, as are the smaller boutique shops that specialize in best execution. That leaves mid-sized players, which may have good research and good execution but not the best of either, as vulnerable. "The big are getting bigger and the middle is getting squeezed," said Ian Huggard, head of trading at Dublin-based stockbroker Bloxham, at WBR’s TradeTech Europe 2012 in London. "Being caught in the middle means a big cost overhead, and you may be without a full suite of products." Broadly speaking, broker-dealers can add value in two areas: research and relationships/capital introduction, and cost. The Goldman Sachs of the world do well at the former, while small players down to the garage level can compete on price. "In the middle you don't have the best research or the best fees," said Alex Fleiss, chief investment officer at technology and asset management firm Rebellion Research Partners, also at TradeTech. A boutique broker may offer a distinctive algorithm, or perhaps a big name on the research side, to stand out. Without such differentiation, a mid-sized broker would be left to compete with much larger, deeper-pocketed firms at their own game. "Your research is not going to be as desired as Goldman Sachs, and your trading technology is not as cutting-edge as the trading specialists," Fleiss said. [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/mid-sized-brokers-squeezed) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/mid-sized-brokers-squeezed) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/mid-sized-brokers-squeezed) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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