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One other point was that there should be a recommendation, but not a regulatory requirement, to transition the mutual fund subscription and redemption settlement cycle to T+2 from the common T+3/4 in the UK and other popular EEA fund jurisdictions to coincide with the UK, EU and Swiss transition to T+1 in capitalmarkets.
Hayley McDowell, European market structure consultant, RBC CapitalMarkets The buy-side face a dilemma as the UK (and likely the EU) prepare to offer greater flexibility on payments for research. Despite the ongoing uncertainty for participants, 2024 promises to be another eventful year for Pan-European market structure.
BNY Mellon made two key senior managing director hires into its fixed income and equity sales and trading businesses. Gould joined BNY Mellon after three years at RBC CapitalMarkets where she previously served as co-head of equities electronic sales and trading. The two will operate as co-CEOs until the end of the year.
Eric Heliene, head of buy-side trading desk, Groupama Asset Management The intensification of financial regulation is a fundamental trend transforming the assetmanagement ecosystem. The planned transition to T+1 settlement in 2024 and the forthcoming revision of Mifid II are poignant examples of this.
Head of EMEA equity trading at Janus Henderson and markets stalwart, Richard Worrell, is set to leave the institution for a sales role at the London Stock Exchange Group (LSEG), The TRADE can reveal. He will join the exchange group as head of secondary markets sales and business development in January 2024, sources have confirmed.
What is the future outlook for AI use across capitalmarkets? This year the market will see more generative AI use-cases go from pilots to production. Throughout 2023, we saw generative AI experimentation across the capitalmarkets ecosystem. How is the industry adjusting to the increasing prevalence of the cloud?
billion, posting its third best quarter for capitalmarkets ever – again in large part thanks to stronger performances in equities. Chief executive, Richard Handler and president, Brian Friedman highlighted that the bank expects the investment banking momentum to continue looking ahead to the rest of 2024. year on year (up 47.9%
He will join the exchange group as head of secondary markets sales and business development in January 2024, sources have confirmed. Previously in his career, he spent almost a decade at the assetmanager in an equity trading role until 2006 and later spent nearly four years at SEB.
Rachel Kent’s review focuses on removing enough of the operational burdens to encourage assetmanagers to take advantage of new rebundling freedoms, but not so much that transparency to asset owners is completely jettisoned.
Celebrating Women’s History Month with… Liontrust AssetManagement’s Maddy Davies To celebrate Women’s History Month 2024, Annabel Smith sits down with trader at Liontrust AssetManagement, Maddy Davies, to unpack her journey to the trading desk, core skills for success as a multi-asset trader, and navigating the current liquidity landscape.
David Berney and Michael Broadbent run Ergo Consultancy which delivers what it refers to as provider “beauty parades” for buy-side organisations looking to outsource their trading, whereby it presents all the services in the industry to that assetmanager, hedge fund or asset owner.
Speaking to the key considerations for the European buy-side community, Susan Yavari, regulatory policy advisor – capitalmarkets at European Fund and AssetManagement Association (EFAMA) highlighted that identifying potential pain points is the overarching focus.
Well, fast forward to 2024 and the PB behemoth and its counterparts in the ‘big three’ are all reportedly around that coveted milestone. Data from Convergence tracking the top 25 prime brokers showed their market share grew from 83.3% in April 2023, to 92% in 2024.
These regulations have significantly impacted the operations and behaviour of financial institutions, contributing to greater stability, transparency, and accountability in global financial markets. New rules have impacted almost every financial firm, ranging from banks to assetmanagers.
Magnus Haglind, head of products for marketplace technology, Nasdaq The first wave of gen-AI use cases across capitalmarkets technology has sparked widespread energy and excitement about its future potential. We have seen early applications of GenAI in the areas of market observability, risk assessment and operational efficiency.
The highly anticipated award for Trader of the Year – Long Only went to Chris Fiorito of River Road AssetManagement. Meanwhile, the award for Trader of the Year – Hedge Fund was given to David Alfred of Conversant Capital. Rowe Price was awarded Fixed Income Trading Desk of the Year.
Maddy Davies has joined BlackRock following almost two years as a trader within Liontrust AssetManagements multi-asset trading team. Last year, Davies was recognised as one of The TRADEs Rising Stars of Trading and Execution 2024. Liontrust declined to comment when approached by The TRADE.
JSE-FIX is a vendor, venue and asset class agnostic offering and aimed at simplifying access to South Africas secondary markets and contribute to growing the increasingly diverse community of assetmanagers, sell-side brokers, and technology providers in the region.
FIS acquires post-trade platform Torstone Technology Coming in at number 10 in our 2024 most read countdown was a major merger and acquisition scoop announced at the start of the year. The deal will further bolster FIS capitalmarkets technology offering, having acquired SunGard in a major deal back in 2015.
Stephen Grady, head of global markets and executive vice president at Lombard Odier, accepted a Lifetime Achievement Award from The TRADE last night at Leaders in Trading 2024. Beginning his career in 1990 as an FX dealer at Bank of America in Sydney, Grady has spent almost four decades working in financial markets across the globe.
Mullin most recently worked as an FX trader at BASF, based in Dublin and prior to this served as a senior associate – ETF capitalmarkets at JP Morgan AssetManagement in London. His previous experience also includes a stint in an ETF pricing and trading role at Susquehanna International Group.
Amundi Technology has partnered with capitalmarkets trading and risk solutions provider Murex to deliver OTC derivatives capabilities to investment managers. The integration of Murex’s market-leading OTC derivatives capabilities will support ALTO client expansion into the most complex portfolio strategies.
He most recently served as trading and operations manager, with responsibilities covering the management of trade execution and investment operations. Before joining Seilern, Grant spent three years at Barings AssetManagement where he held positions covering multi-asset investment and pan-European equities.
Central clearing will play a key role in this debate, which will be essential for advancing the region’s capitalmarkets, and we look forward to Emir 3.0 This conversation is especially relevant as cross-border transactions grow in volume and as assetmanagers expand their investment in international markets.
Fidelity International, inaugural winner of The TRADEs Foreign Exchange Trading Desk of the Year Award 2024 was and continues to be recognised across the street for its thriving work across the global FX space. Finding the right candidates can be a delicate balancing act.
Several platforms, including OTC Markets and Blue Ocean Technologies, have offered out of hours trading for some time now, but recent moves by major exchanges suggest the topic is set to become increasingly mainstream. I don’t see the need and I wouldn’t say I’m a big advocate of reducing market hours.
While the regulatory landscape has been challenging incountries like China,South Korea and India, we are seeing tremendous wealth creation in markets such as India and Southeast Asia. Elsewhere in Asia, the capitalmarkets emergence from a decade-long low interest rate environment has been slower.
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