A Year in Review
Posted onIn this report, we look at some of the themes that are framing current market structure and draw some conclusions.
Will Winzor-Saile
Will joined Redburn in 2015. Prior to this he worked as an Electronic Execution Specialist at Fidessa. Will holds a first-class masters in Maths and Physics from the University of Warwick.
Cross Examination
Posted onNatural Blocks are generally seen as the ideal form of liquidity. Being able to find the other side of a trade helps you to execute without having to go near the open market. Despite MiFID II making it harder to execute crosses in certain situations, it remains a vitally important source of liquidity. In this note, we see just how much of an improvement it can offer.
Seizing the Opportunity
Posted onThere is no escaping MiFID II. As the regulation becomes clearer and industry consensus forms, every financial firm is working hard to be ready for 3 January 2018. Alongside implementation, myriad discussion papers address the challenges faced in the new world – where can we trade dark? How will we transaction report? How do we reach millisecond clock precision? Yet few focus on the upside for the industry. This level of regulatory upheaval will have far-reaching implications – some positive, some negative – but, whatever the outcome, we know there will be change, and change connotes opportunity. In this paper, we explore how firms can seize the opportunity and turn regulation from a burden to a competitive advantage.