The shrinking commissions that banks have made of their equity broker units may grow even smaller.
Keeping a closer eye on their relationships with brokers could be one way to cut costs.
The dwindling commission pool paid to banks — it was roughly $8 billion last quarter in the US — has fallen each of the past eight years, and this tool is a way to take the emotion out of the process, said Richard Johnson, vice president of Greenwich Associates' market structure and technology unit. "Hedge funds are very, very much about all things data anyways, and so the more they can get data about their relationships and quantify them, the better."Inside the Chicago hedge fund turf war between billionaire Ken Griffin and Dmitry BalyasnyThe system takes the same Behavox technology that many funds' compliance teams already use to monitor internal communication and extends it to the communication hedge funds' portfolio managers and analysts have with their brokers.
"Are you emailing someone on Saturday night when you don't email anyone else at that time? They must be your go-to person, and the system will reflect that. Have you emailed every bank a thank you except one? The system will reflect that," Adylov said.Silicon Valley has made top data-science talent too expensive for many hedge funds, so they're getting creative to compete
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