Funds that back lawsuits in return for a slice of the proceeds if they win are gaining in popularity.
Portfolio trading, powered by the ETF boom, was gaining converts as markets in many individual bonds all but froze.
A trade group warned that pubs will be lost without government support.
Compensation will be a last frontier in the onslaught of technology on finance.
DirectBooks will initially focus on U.S. dollar-denominated investment-grade corporate bond offerings.
Automated traders are supplanting some operations of traditional fixed-income desks.
Digital disruption is moving into the pricing and distribution of corporate bonds.
Competitors seek to erode iShares’ formidable fixed-income dominance on the continent.
The Frankfurt-based lender has had success selling junk bonds to billionaires such as Carl Icahn and Paul Coulson.
Smaller lenders, brokers and electronic platforms are replacing banks making markets.
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