OUTLOOK
Securities Firms & Market Infrastructure Providers – US
Our 2021 outlook is stable for exchanges and other trading and clearing venue operators; stable for retail brokers, and positive for market makers

“We changed our outlook for retail broker (to stable from negative) as market rebound and advisory revenue growth help offset some of the decline in interest-linked revenue. We also changed our outlook for market makers (to positive from stable), reflecting firm' ability to profit from spates of volatility and demand for risk transfer, positioning them to enter 2021 with solid capital levels.”
INFOGRAPHIC
Securities Firms & Market Infrastructure Providers – US
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