I was having a convo w/ a buyside PM over the weekend who was telling me that GS and JPM are going to leave the rest of the BB banks (and definitely all of mid-mkt banks) behind due to their latest push to open all their internal data and models to their clients. Tools like PlotTool Pro are opening up pretty proprietary marks (like correlation) to the broader market, and is a huge pull to get your entire end-to-end trade process on the GS platform.
What do you guys think? Is S&T turning into a tech arms race where it'll be winner-takes-all for client flow?
