Last year, like the handful before it, put traders through their paces. The first quarter of 2023 was nothing short of a baptism of fire, kicking off with soaring interest rates, a banking crisis and inflation as monetary policy makers globally tried to prevent a nosedive into recession.
We live in times where black swan events are becoming more and more pigeon-like in their frequency, and macroeconomic and socio-political turmoil has continued to pose a threat to markets and institutions globally. Throughout the course of 2023, this has spurred on existing trends such as consolidation and outsourcing to cut costs – as evidenced by the merger and acquisition wave that kicked off in the second quarter of last year and has rolled on through until now.
Regulatory change has continued to rock the markets, and central to much of this is settlement – T+1 has been well and truly cemented as the buzzword of 2023. With the US set to move to a shorter settlement cycle in May this year, nations globally will be turning their gaze to their own regimes.
This issue of The TRADE Magazine examines all this and more with in-depth features exploring how today’s turbulent and changing markets have evolved everything from the use of algorithms to the profile of who is considered the perfect trader.
For the Q4 Buy-side Cover and Meet the Desk interviews, The TRADE was delighted to feature Millennium’s Charlotte Nutting and BlackRock, crowned Trader of the Year and Trading Desk of the Year, respectively, at the 2023 Leaders in Trading gala awards night.
This publication also includes a write-up of The TRADE’s glittering awards night and of our 2023 Rising Stars of Trading and Execution.
Take a look below for more detail on Q4 content:
In depth: “They’re the perfect trader”
As the landscape of the trading world continues to change – spurred by technological advancements, geopolitical change and social pressures – so too are the traders themselves. Claudia Preece takes stock of the market’s perspectives on the adage of ‘the ideal trader,’ delving into key characteristics, both the pervasive and the fading.
Buy-side cover interview: Trader of the Year – Millennium’s Charlotte Nutting
Annabel Smith sits down with Millennium senior trader and winner of the 2023 Leaders in Trading Trader of the Year Award, Charlotte Nutting, to explore her journey to the hedge fund’s trading desk, her decision to trade multi-asset and spearheading better gender diversity in the industry.
In depth: Algorithmic trading: Smarter than ever?
With growing client expectations and a constantly developing market landscape, Wesley Bray explores the evolution of algorithmic trading, delving into its use cases, the importance of data and trader intuition as well as how algo strategies are utilised during periods of high volatility.
Meet the Desk: Embracing change on the BlackRock EMEA equity trading desk
Claudia Preece sits down with the BlackRock EMEA equity trading team – winner of the 2023 Trading Desk of the Year, Long-Only Award – to discuss the wide breadth of the desk’s coverage, delving into what constitutes the ideal dynamic for a successful team, the key lessons gleaned from years of experience working across the equities space, and what the future holds for life on the desk.
Leaders in Trading 2023 – A roaring success
Almost 350 industry leaders gathered at The Savoy Hotel on 8 November in London to celebrate their achievements throughout the year.
The Big Interview – David McAnany
Co-head of foreign exchange, EMEA, at BNY Mellon, David McAnany sits down with Wesley Bray to discuss his journey to the trading desk, the impacts of increased automation of pricing and eFX on the role of the trader and key market structure changes to look out for in 2024.
The TRADE’s Crystal Ball 2024
Gaze into our annual crystal ball with predictions from industry experts on what to expect in 2024 across the buy-side, sell-side, market structure, regulation, technology and more.
Closing Bell: An EU consolidated tape: a step away from market fragmentation?
As the EU continues to pursue a consolidated tape (CT) there are various key points of reflection of which the market should take stock as the tape works to untangle the labyrinth of the European market structure, writes Apostolos Thomadakis, research fellow at the European Capital Markets Institute (ECMI).
Read the full issue here.