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Over half (54%) of buy-side respondents say that getting proper coverage from their brokers is one of their biggest pain points in their daily equity trading workflow, a new report from Coalition Greenwich has found. A quarter said they prefer a one-touch/hybrid coverage model, while 26% said it depends on the broker.
RBC appointed two former Credit Suisse senior algorithmic trading individuals to join its low touch electronic sales and trading team. Balyasny AssetManagement appointed Harrison Chesterton as associate director within its equity finance trading division.
When it comes to selecting an algo provider, ease of system use, reliability and quality of technical support was the top consideration for assetmanagers across both sides of the Channel in 2023 – 71% in the UK and 73% in Continental Europe – according to a Coalition Greenwich report.
His appointment comes as GTN continues its expansion efforts to build a comprehensive electronic trading and investment platform. GTN serves brokers, banks, assetmanagers, and fintech clients. He brought with him more than 25 years’ experience in cross-asset trading for both institutional and retail clients.
Instead, a combination of rising interest rates, inflation, soaring energy prices and geopolitical tensions have hit hedge funds, and subsequently the risk management practices of prime brokers. Elsewhere, other local regulatory changes and benchmark replacements continue to impact prime brokers.
Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for Outstanding Non-Bank Electronic Liquidity Provider, showcasing excellence in liquidity provision outside of the traditional sphere. billion compared to € 2.8 billion the previous year.
Electronic trading platforms captured almost a third (32%) of overall Canadian equity trading volume in 2023, with this share expected to rise in the next three years, a new report by Coalition Greenwich has found. As a result, electronic and/or algorithmic trading has seen usage increase.
Royal London AssetManagement’s (RLAM) trading team is no stranger to change. The London-based assetmanager has undergone not one but three makeovers in recent years as it continues to evolve with the demands of the street. Instead, they favour electronic methods to find mid-point block liquidity.
UK-based boutique fixed income trading desk BlueBay AssetManagement is beginning a new chapter in its life. The move has opened up swathes of synergy opportunities for the pure fixed income assetmanager, with its traders now working directly alongside RBC BlueBay AssetManagement’s equities desk.
Former head of market structure and liquidity solutions at broker dealer Kepler Cheuvreux Byron Griffin is set to join Franco-German financial services firm ODDO BHF. Griffin left Kepler in May after over eight years with the broker dealer. He joins as head of execution sales and microstructure.
Jesse Forster When it comes to the industry’s opinion on “new innovative trading venues”, the latest Coalition Greenwich report found that an overwhelming 91% of both US low-touch brokers and their buy-side clients have between “a little” and “a lot” of interest in the venues.
We have seen a stabilisation of money flows in recent months, global funds are returning to the UK, while we continue to see outflows (mostly to US) of domestic assetmanagers. We all know it is very cheap and easy to trade electronically but you’re not necessarily fulfilling your liquidity obligations.
There’s already a huge section of the assetmanagement community and the asset servicing community, including Northern Trust, that are established in Singapore as large parts of their global operations.”
I’ve always worked in the assetmanagement industry, starting my first job at 18 with Scottish Amicable Investment Management in Glasgow. From the banking team at Scot AssetManagement, I moved firms in 1999 to take up a role in trade settlements. What has your journey to the trading desk been like?
Global assetmanager Robeco leverages a low touch and high touch trading team that spans across three continents. And, like most assetmanagers across the street, its global equity trading desk plays host to a variety of characters, each bringing their own individual string to the wider team’s bow.
Pragma provides algorithmic trading and analytical services across equities, foreign exchange and fixed income with a client base that spans assetmanagers, hedge funds, broker dealers, banks and exchanges.
GIX submitted its Form 1 application on 9 May 2023, outlining plans to operate a fully automated electronic trading platform for the trading of listed equities – no physical trading floor is planned. Contrary to popular belief, an exchange is not just about ‘buy, buy, sell, sell,’ which is the domain of brokers.
What are the key drivers behind assetmanagers’ move towards multi-asset trading and what benefit can this provide? Stephane Marie-Francoise Marie-Francoise: Everything starts with the desire from the investment team to develop a multi-asset class strategy offering.
She joined Ninety One in 2021 from Royal London AssetManagement where she had been head of dealing for three years. Given the liquidity landscape can often be more sparse or difficult to navigate, the use of local brokers alongside the bulge brackets is something Willis thinks is essential to minimise market footprint.
Taking the US market as an example, if an equity buy is traded over the day into the US close, for a non-US assetmanager there becomes a very short window to get the equity trade matched, FX generated, and executed in the market in time to meet deadlines to settle on a PvP/net basis.
It is rare, for example, that you’ll find an assetmanager worrying about the good of the market or how an order might influence the primary lit market share, over whether or not they have achieved the optimal outcome for their portfolio manager and end investor. They’re built for slightly different purposes.”
Assets under management (AUM) and trading volumes for this asset class have experienced a significant rise over the last few years. What’s particularly notable is the willingness of big assetmanagers to launch their latest active strategies in an ETF wrapper.
In February 2024, Visma acquired InvoiceXpress, a developer of electronic invoicing software and related APIs for small businesses worldwide. InvoiceXpress’s software includes features for tax management, VAT reporting, billing management, payment processing, and budgeting.
Head of the EMEA equities desk at the world’s largest assetmanager, Paul Battams, oversees a highly talented team of 14 traders covering the scope of equities and equity derivatives execution for the entirety of BlackRock’s investment teams.
New rules have impacted almost every financial firm, ranging from banks to assetmanagers. Reg BI represented a notable regulatory overhaul in the financial market, particularly for broker-dealers, investment advisers, and financial professionals who provide investment advice to retail clients.
most recently served as head of electronic equity trading at BNYs London branch for 11 years. As part of the role, Wilkes will be responsible for the firms sales efforts across EMEA and APAC, focusing on the assetmanagement and asset servicing communities.
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