Here are some key quotes from my latest podcast with Scott Chace, Co-Founder and CEO of CF Global Trading:

“You know, outsource trading has been around for almost 30 years. It was started by Furman Selz way back when, through their prime brokerage group that offered services – a lot of different services – to their hedge fund clients in the Helmsley building in New York.”

“I think that’s what’s really driven [the interest in outsourced trading] over the last few years. MIFID II and a need to cut costs.”

“So I went ahead in January of 2000, started to set up CF Global, got Robert Fleming to join me and got our licenses set up, New York and Hong Kong. And we were trading by August of that year, which you could never do these days.”

“And I think to have an independent trading desk where your interests are aligned with your clients is very, very important. And it’s almost old school in how we operate, but we have no axe to grind. We don’t trade any of our own capital and we’re just after best outcome for our clients.”

“So I think it’s really becoming more and more data driven. And we’re trying to use our data better and better and are always looking at new ways to do it.”

“I think the idea there is [that] the PM likes to walk over to the trading desk and have that contact. I think everyone sees in these times, where everyone’s working remotely, it doesn’t really matter. We can do a pretty good job and connect very well remotely.”

“So it’s been tough to obviously go see clients or reach out to prospects. But on the other hand, I think for the whole industry, people are more comfortable with a remote trader. And we’ve actually had some inquiries from funds that are looking to shore up their business continuity plans or somehow increase their capacity.”