The ETF market has undergone extraordinary growth over the past two decades, but trading protocols have not always kept pace. In conversation with The TRADE, Aaron Kehoe, head of QwickRoute at MCAP, discusses the evolution of ETF trading workflows and how new execution models are seeking to modernise liquidity access through automation and integration.

As closing auctions dominate European equity trading, evolving microstructure dynamics are exposing gaps in traditional execution strategies, prompting a shift towards more predictive, liquidity-aware approaches, highlights the team at KCx.

Cboe Europe is one of Mifid’s success stories – and a blueprint for the type of efficient, pan-European market infrastructure the EU is looking to promote through its capital markets integration reforms. Alex Dalley, recently appointed SVP, head of european equities, reflects on Cboe’s journey so far and shares his vision for the exchange’s next chapter of innovation.

Tradeweb picked up the award for Outstanding Fixed Income Trading Venue at Leaders in Trading 2025. Following this achievement, Tradeweb sits down with The TRADE to unpack the key factors behind the win, including the standout milestones across the last 12 months, the key turning points throughout the year, and plans for future expansion. 

Euronext picked up the award for Outstanding European Derivatives Venue at The TRADE’s Leaders in Trading Awards in November 2025, recognising its significant innovation and success in the category over the past year. Charlotte Alliot, head of financial derivatives, EQD and FI, highlights the key developments over the year that led to the win.

As clients demand greater control, customisation and transparency, JP Morgan is building the next generation of FX algos to optimise execution in real time. The TRADE spoke with Ben Weinberg, head of eCEM sales North America, and Reza Gholizadeh, vice president macro automated trading strategies, who explain how JP Morgan is advancing algorithmic FX execution through Adaptive 3.0, deeper analytics, and real-time innovation.

Spike Keizer, head of product at Sinara, discusses why integration, centralised data and AI-enabled reporting are reshaping trading technology decisions in 2026.

How Cboe’s market data, analytics and indices arm is equipping market participants with deeper visibility, smarter analytics, and accessible global market intelligence.

Northern Trust picked up the award for Best Post-Trade and Operations in Outsourced Trading at Leaders in Trading New York, a fiercely competitive category, but one the provider prevailed in due to its commitment to operational excellence. Stephanie Farrell, head of Integrated Trading Solutions, Americas, Northern Trust, details the work which went in behind the scenes which led to the prestigious win.

Allen Li, global head of digital and distribution services at HSBC, sits down with The TRADE to explore the genesis of the bank’s AI Markets platform including its single point of access, natural language processing and the importance of unique data sets.