**New York:** At the SIFMA Operations Conference 2025, industry leaders from major firms discussed how AI, unified client data, and strengthened collaboration are revolutionising buy-side and sell-side relationships to enhance operational efficiency amid market volatility and evolving client demands.

Strengthening Buy-Side and Sell-Side Relationships: Navigating Innovation and Risk

In an era marked by heightened market volatility and rapid technological advancements, the relationship between the buy-side and sell-side in the financial sector is undergoing significant transformation. At the recent SIFMA Operations Conference & Exhibition 2025, industry leaders gathered to discuss the dynamics of this relationship and the strategies necessary to enhance operational experiences amid evolving client expectations.

The panel discussion titled “Bridging the Gap: Enhancing Sell-Side and Buy-Side Relationships to Optimize the Operations Experience,” moderated by Bharat Sawhney, Partner at Sia Partners, convened senior representatives from major financial institutions, including US Bank, Fidelity, Goldman Sachs Asset Management, and Nuveen. They addressed critical themes of collaboration, operational resilience, and the emerging role of artificial intelligence (AI) in finance.

Aruna Parthiban, Senior Vice President at Goldman Sachs Asset Management, articulated the increasing importance of buy-side and sell-side collaboration. She stated, “The value you get out of getting the network adoption, getting the voice heard between the sell-side and your custody community is vital for us to run our business in a seamless fashion.” Notably, she highlighted the industry’s success with the T+1 settlement transition, attributing it to effective cross-industry coordination.

Eileen Bejasa from US Bank provided insights into the operational strains experienced during the early pandemic, describing how unprecedented trading volumes and frequent outages strained resources. “That instability created challenges across the board,” Bejasa noted. However, she observed a notable shift in mindset; the focus has now shifted from mere stability to leveraging infrastructure and data to meet evolving regulatory demands.

Fidelity’s Laura Jacques emphasised that fostering collaboration begins internally within firms. “Internally, we need to bring the conversation together between our front, middle, and back offices—not just when there’s an issue,” she pointed out, underscoring the necessity of cohesive communication to mitigate costs associated with post-trade friction.

The panelists identified specific areas within esoteric markets, such as syndicated loans and direct lending, as fertile ground for process innovation. Cinda Whitten of Nuveen commented, “There’s still a lot of manual documentation in private markets,” indicating a substantial opportunity for the integration of fintech solutions to streamline operations.

Operational infrastructure emerged as a recurring theme, particularly as financial products continue to evolve. Jacques urged the industry to consider how to enhance operational models rather than fit new ideas into existing frameworks. “Instead of fitting new ideas into old systems, we should ask: What are the capabilities and talent we need?” she advised, calling for a forward-thinking approach to operational strategy.

Parthiban echoed this sentiment, advocating for scalability through a unified model that enables seamless communication across the data lifecycle. She noted recent advancements by vendors in providing real-time data access to the buy side, particularly in the futures sector, as promising developments.

While advancements in technology present new opportunities, they also introduce challenges. Bejasa remarked on the ongoing tension between customisation and scalability: “We’re focusing on unified client data and operational consistency, which helps us be more thoughtful in how we solution for the buy-side.” This balance is crucial in delivering tailored solutions that meet diverse client needs while maintaining efficiency.

The discussion also pivoted towards the potential impact of AI in finance. Parthiban remarked, “AI isn’t new, but right now, it’s front and center because we’re starting to see the real value.” Firms are experimenting with AI across various operational dimensions, from automating mundane tasks like meeting minutes to enhancing data analysis.

However, Jacques pointed out that many firms remain in the nascent stages of AI implementation, primarily focused on safe, internal projects. She described the industry’s initial steps towards collaboration in common use cases like reconciliation and onboarding as essential first steps in a longer journey towards collective innovation.

Whitten highlighted how Nuveen is experimenting with an internal platform to unify disparate processes across numerous functions and individuals. “We’re testing AI summarisation for email chains and exception workflows,” she explained, aiming for an autonomous workflow capable of self-improvement and scalable decision-making.

As the discussion drew to a close, the panelists underscored the importance of collaboration within the financial ecosystem. Parthiban concluded, “If you start with the client, and not just the client’s expectations of me or you, but of us, you get a much more meaningful conversation.” This collaborative spirit, they agreed, is crucial for the industry’s ongoing evolution.

In a landscape defined by swift changes and growing complexities, the reinforced partnership between buy-side and sell-side firms stands as a vital strategy for navigating the future of finance.

Reference Map:

• Paragraph 1 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[2]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/)
• Paragraph 2 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[2]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/)
• Paragraph 3 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[4]](https://www.sifma.org/events/operations-conference-exhibition-2024/)
• Paragraph 4 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[2]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/)
• Paragraph 5 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[3]](https://www.sifma.org/events/operations-conference-exhibition-2025/)
• Paragraph 6 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[6]](https://www.sifma.org/resources/research/2025-study-financial-services-transformation/)
• Paragraph 7 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[2]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/)
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• Paragraph 10 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/), [[6]](https://www.sifma.org/resources/research/2025-study-financial-services-transformation/)
• Paragraph 11 – [[1]](https://www.tradersmagazine.com/featured_articles/strengthening-the-buy-side-sell-side-relationship-in-a-new-era-of-innovation-and-risk/)
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Source: Noah Wire Services

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