Annabel Smith sits down with head of foreign exchange trading at T. Rowe Price, Toby Baker, to unpack why he chose a career in FX, the asset class’ role in the wider markets and the innovations he expects to make waves on the trading desk in the near future.
The TRADE is delighted to announce the Rising Stars of Trading and Execution for 2025, in collaboration with Instinet – a celebration of up and coming talent on the buy-side.
Market structure impacts and the potential for too much AI dependency were highlighted as a key are of focus for speakers on the algo panel at TradeTech FX 2025 on Wednesday.
Join The TRADE and LSEG to explore how the cloud is reshaping the front office — from hybrid strategies to AI and resilience. Register now!
The magazine features exclusive buy-side interviews and insights, in depth content and the official accompanying event agenda.
The ideal strategy is one focused on allowing expert knowledge to scale across multiple asset classes, without diluting core competencies, argued Schroders’ Gordon Noonan, speaking at the TradetechFX conference in Barcelona on Wednesday.
FactSet integrates MarketAxess CP+ data into Workstation platform
The move follows recent fluctuations in the commercial bond market and is set to help users gain insight into to real-time market activity.
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Quoniam Asset Management’s Markus Ebner on innovating the FX markets
The TRADE caught up with Markus Ebner, head of multi-asset at Quoniam Asset Management, to explore the key themes surfacing for those trading on an alpha mandate, delving into how technology and innovation is continuing to shape the FX market and what developments to keep an eye on going forwards.
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As the FX market looks to navigate the bifurcation of alternative liquidity coming from main trading venues, such as major electronic communications networks (ECNs), and bilateral liquidity from less standardised venues, experts at TradeTech FX 2025 explored the impact this is having on market structure.
Awards for exchanges, sell-side firms, technology vendors and more to be handed out on 6 November at the Savoy in London alongside previously announced survey honours.
The swaps were cleared through HKEX’s OTC Clear service; the firm said the expansion bolsters its position in the post-trade optimisation sphere in Asia.
The move also makes the firm, which is the fifth largest bank in the US, the service’s seventy-sixth settlement member.
The contracts are scheduled to go live in Q1 2026 and follows strong adoption of FLEX options in the US since the products were launched in the region in 1993.
The addition marks the seventh liquidity provider to join the exchange’s solution and follows the incorporation of Societe Generale onto the service in June 2025.
Individual has also previously worked across securities finance trading and automation at firms including State Street, EquiLend, Merrill Lynch and Goldman Sachs.
According to Acuiti and FIS’ recent study, the upcoming SEC’s US Treasury clearing mandate is a key driver behind a growing industry interest in self-clearing.
The past week has seen appointments spanning emerging markets credit, rates and equity derivatives sales.
Strong data standards and automation are key to a smooth T+1 shift, but adoption and enforcement can pose challenges, agreed experts at Euroclear’s Modernising Securities Markets conference.
Although firms recognise the benefits of extending trading hours, proprietary traders are more aligned on the challenges posed, such as operational staffing and resource requirements, according to an Acuiti and Avelacom report.
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