Higher trading costs means “a change for everyone,” Fink added. “We’re in a better position for that through ETFs.”
Banks have been diminishing their exposure to fixed-income assets after global regulators required the firms to back a larger portion of bond assets with equities. Consequently, the lower demand caused some trades on debt securities to become slower and more expensive.
For more information on the ETF industry, visit our current affairs category.
Max Chen contributed to this article.
