A broker cannot simply be defined as a provider of services. Today’s pervasive brokerage market represents an ecosystem which includes the inter-relationship between governance, incentives, technology, people, and culture. As a result, inconsistent risk decisions caused by poor governance adversely impact execution quality. Conversely, incentive structures affect the behaviour of employees of a broker and, therefore, how teams perform during stressful situations. If brokers rely only on technology to mitigate risk to traders, it is not going to be effective when the processes in place are poorly defined. In turn, the culture and people of brokers are critical contributors to stability during periods of heightened volatility. Because of the level of inter-action among the previously mentioned elements, a strength in one area will not compensate for a weakness in any other element. Brokers that recognize this develop systems that foster long-term sustainability, which ultimately leads to traders experiencing fewer interruptions and thus producing more predictable outcomes. 

Hence, brokerage success will depend on the balance of the ecosystem and not just on the individual components of the ecosystem.