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Matthew McLoughlin, head of trading, Liontrust Asset Management
Looking back on 2018 I think we
can all agree that we achieved
a great amount as an industry.
That being said, I don’t see
things slowing down in 2019.
Brexit will obviously be in the
headlines and will continue to
take up a lot of resource on
buy-side, sell-side and execution
venues alike. Regulatory
and political developments,
particularly on periodic auctions,
tick-size regimes, mid-point
trading and SIs have the capacity
to change market structure yet
again in 2019. Change is the only
constant, but some things have
already changed for the better
and further forced amendments
could only harm the end-
investor in the long run.
“Further forced amendments
could only harm the end-
investor in the long run.”
Cécile Nagel, CEO, EuroCCP
Brexit will continue to dominate
the agenda. While market
participants have already
invested significant resources
preparing for the UK’s departure
from the EU, unknowns remain.
Thus far the industry has
focused on the official exit date.
However, 29 March will only mark
the beginning of fundamental
changes that will affect financial
services firms throughout
2019 and beyond. I also expect
regulatory change and M&A to
continue to drive the agenda for
market infrastructure, especially
as firms look to build out their
technology and broaden their
products and services offering.
Enrico Bruni, head of Europe and Asia business at Tradeweb
Apart from Brexit and its impact
on market functioning and
MiFID II/MiFIR calibration, next
year’s focus will be on new best
execution requirements, and
the introduction of mandatory
clearing and trading for CAT
3 and CAT 4 firms. Therefore,
we expect to see further
investment in derivatives
trading, as well as automated
execution mechanisms, such
as our AiEX tool. Building cost-
and time-effective workflow
solutions will provide trading
desks with scale and efficiency
when executing risk.”
Issue 58 // TheTradeNews.com // 77