Research-payment rules are diverging across major markets. While the UK has introduced flexible joint-payment models under FCA reforms, the EU is cautiously opening its regime through the Listing Act. For global asset managers, this shift brings trading desks back into the center of research funding, execution strategy, and broker-relationship decisions.

The global CSA landscape in 2026 reflects growing alignment across the UK, EU, and U.S., reducing nearly a decade of fragmentation. Buy-side firms are adopting unified CSA frameworks to enhance governance, transparency, and efficiency, while sell-side brokers face strategic decisions on investing in CSA capabilities or risking competitive disadvantage.

Deloitte, EY and S&P warn of relentless fee compression and rising cost pressure in 2026. Yet firms still overspend on legacy terminals while using only a fraction of features. Discover why active managers need a smarter, leaner research hub and how Castine RMS unlocks major savings and efficiency gains.