Wells Fargo Launches Outsourced Trading with New Prime Trade Services Group

Wells Fargo has confirmed the launch of its new prime trade services group to provide buy-side clients with access to outsourced and agency trading. In a story in The Trade news, Wells Fargo said that the prime trade service group will offer investment firms, ranging from start-up to institutional, experienced traders with the ability to act as an extension of their trading desks. The prime trade services group’s outsourced trading function will include high- and low-touch trading services that can execute entire trading operators, or supplement a client’s in-house trading desk, to achieve lower costs, more time to focus on alpha-generating tasks, and to reduce the burden of maintaining technology and people. Coupled with Wells Fargo’s existing prime services platform, the newly established group will also give clients access to resources such as business consulting, capital introductions, and access to Wells Fargo’s COMPASS and SHARP technology platforms for risk management and reporting.  Combined with its outsourced trading, the investment bank’s prime trade services group will include technology-driven portfolio management services, trade execution in open trading infrastructure and integrated commission management.