--- title: Trade Outsourcing Picks Up description: Some buy-siders turn to third parties to augment, or replace, trading desks. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/u-s-equities-outperform-barings-May-12-2022-08-32-35-77-AM.jpg --- ![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/trade-outsourcing-picks-up#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/) - [Daily Email Feature](https://articles.marketsmedia.com/tag/daily-email-feature) - Daily Email Feature - Trade Outsourcing Picks Up 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/trade-outsourcing-picks-up#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) 08.17.2018 By Rob Daly Daily Email Feature # Trade Outsourcing Picks Up 08.17.2018 By Rob Daly ![Trade Outsourcing Picks Up](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/u-s-equities-outperform-barings-May-12-2022-08-32-35-77-AM.jpg) [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/trade-outsourcing-picks-up) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/trade-outsourcing-picks-up) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/trade-outsourcing-picks-up) More and more buy-side firms are re-examining ways to improve their workflow and operational efficiencies as market regulations like MiFID II eliminate many past practices such as research bundling and soft dollaring. ![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/Aaron_Hantman_online-150x150-1.jpg?width=150&height=150&name=Aaron_Hantman_online-150x150-1.jpg) Aaron Hantman, Tourmaline Partners “Clients are much more aware of the broker costs that are associated with OMS products and what their specific needs are,” Aaron Hantman, CEO of Tourmaline Partners, told Markets Media. “I would also say that the level of sophistication in the TCA marketplace has changed and people are more particular in that space.” The buy side also is looking to outsource portions of their trading desks or their entire desks. When Tourmaline Partners launched its trade-outsourcing service in 2011, hedge funds represented most of the firm's client base, but in the past seven years it has grown to include RIAs, family offices, and asset managers of all stripes who wish to outsource their trading operations, according to Hantman. Tourmaline Partners structured itself as a buy-side trading desk that faces the sell side as an aggregated client on behalf of its client. “We are viewed as an extension of our clients’ trading desks or as their entire trading desks,” said Hantman. Clients can remain anonymous with their orders and have their orders identified as only coming from Tourmaline Partners or they can choose to drop the anonymity and have their orders identified as Tourmaline on account of the 'Client XYZ', he added. The vast majority of Tourmaline's client base, 70%, use the firm's connectivity and trading services to execute trades in illiquid issues or those that require overnight attention. For those clients that outsource their trading functions entirely, the firm can support up to 100% of the trade lifecycle including pre-trade compliance and analytics as well as best execution requirements, post-trade analytics, clearing, settlement, operational reporting and TCA calculations, according to Hantman. [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/trade-outsourcing-picks-up) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/trade-outsourcing-picks-up) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/trade-outsourcing-picks-up) ![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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