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Traders Dread Getting Sent Home as Markets Move Faster Than WiFi

  • Asset managers say remote work slows dealer quotes and trades
  • Some bank traders say they’d rather commute and risk infection
RF markets data trader trading etrade
Photographer: jxfzsy/iStockphoto

As the old adage goes, “it’s bad to be slow in a fast market.” Asset mangers say they’re living the worst of both as Wall Street traders work from home.

Columbia Threadneedle Investments’ Gene Tannuzzo said completing trades is harder then ever, in part because many dealers working remotely don’t have full capacity to transact. Lon Erickson of Thornburg Investment Management said it’s taking longer to get all parties on the phone to “spot” -- or agree on where a Treasury yield is in order to price a corporate bond.