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Old Wall Street losing the war in ETF market

Regulation that wiped out profit margins is putting off the biggest names, while nimbler high-frequency traders are picking up the slack

Published Tue, Oct 17, 2017 · 09:50 PM
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New York

A HIDDEN war is taking place within your exchange-traded fund (ETF), and some of the biggest names on Wall Street are losing out.

Banks such as Goldman Sachs Group Inc have surrendered a once-lucrative type of market making amid an onslaught of regulation that's wiped out profit margins. Nimbler firms - so-called high-frequency traders - have picked up the slack.

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