The Tradetech Daily

The TradeTech Daily 2008 Issue 4

The TradeTech Daily 2008 Issue 4

The TradeTech Daily Issue 4

In this issue:

Dark secrets of liquidity access exposed
Brokers and vendors accused of overplaying smart routing capabilities 

Rivals choose to fight a common cause
Free-for-all gives way to one-for-all as execution rivals focus on the optimal model for dealing with Europe’s complex clearing and settlement arrangements 

Bring it on!
LSE is ready to take on rival execution venues 

What lies ahead for traders?
Liquidity and technology will remain top of the trader’s concerns over the next few years, says head of BNP Paribas Securities in Asia 

Traders compare notes
Buy-side heads of desk took advantage of a closed session to thrash out key challenges on a peers-only basis. Printing costs post-MiFID were a cause for complaint 

Why the buy-side is not buying
Some asset managers believe the onus is on the sell-side to invest in and adopt the newest trading techniques. Brokers failing to deliver risk being dropped by institutional clients 

Making markets in computing capacity
Computing power will become a tradable commodity like anything else, argues Professor David Cliff 

Lords of discipline
Successful long-term traders should adhere to their methodologies, even if it means running counter to the flow in volatile market conditions 

Surging flows drive automation in emerging markets
The growth of foreign investor interest in emerging markets is encouraging trading and infrastructure reforms 

Measuring cost and value in volatile markets
A discussion of available metrics and how they could be applied in volatile conditions rounded off two days of debate 

Traders learn why talent is not enough
Rugby World Cup winning coach Sir Clive Woodward presents delegates with an object lesson in champion performance 

Alpha traders need more than talent
Senior management support is critical in championing the development of alpha traders 

Fighting talk as rival MTFs take the stage
Turquoise CEO quashes rumours of further delay and tells delegates that the pan-European MTF is in business development mode 

No pain, no gain for Europe’s exchanges
The incumbent exchanges must be prepared to make tariff cuts and cannibalise their income if they are to take on the new wave of faster, cheaper execution venues setting up in Europe 

Dark liquidity challenges exchanges
Despite exchanges’ robust defences of their public limit order books, they may not be the best place for certain orders 

Does Article 21 undermine best execution?
Article 21 denounced as a missed opportunity rendered impotent by Brussels compromise 

Best execution remains a moving target
Delegates and panellists agree to disagree on the meaning and implications of best execution 

Market frustrated by lack of urgency in MiFID review
Equity markets must wait till 2010 for change 

Benefits, what MiFID benefits?
Buy-side delegates’ lukewarm response to MiFID 

Buy-side will benefit from MiFID – eventually
Although they will have to wait, buy-side clients will ultimately benefit from recent changes to the European trading landscape 

Buy-side empowerment – at what cost?
Alpha generation is at the core of buy-side empowerment – but it could come at a price when accessing sell-side technology 

CSAs on track
Two years of UK engagement with CSAs resulted in a broadly positive assessment by both buy- and sell-side 

Algo trading comes of age
Algorithmic trading techniques have evolved to the point where multi-asset class strategies are being embraced 

Europe on fast track to SOR
Thanks to the US market’s experience of developing and implementing smart order routing, Europe should be able to avail itself of the technology both swiftly and easily 

SOR evolution demands intelligent design
As interest in SOR grows, it is the level of interactive intelligence that will be the differentiator 

Bringing order to execution
There is no single ‘best’ approach to acquiring the functionality that a buy-side desk needs to manage its trading needs efficiently 

More fog settles on clearing
With the voluntary code on interoperability at a standstill, the industry seeks direction on reforming Europe’s complex clearing and settlement infrastructure 

Click here to download the full PDF.  

Other editions:

The TradeTech Daily 2008 Issue 1
The TradeTech Daily 2008 Issue 2
The TradeTech Daily 2008 Issue 3