The TRADE 62 - Q4 2019 | Page 3

[ E D I T O R I A L ] THETRADE thetradenews.com  Editor JOHN BRAZIER [phone] [email protected] Senior Reporter HAYLEY MCDOWELL [phone] [email protected] Advertising Director MARC CAROLISSEN [phone] [email protected] Senior Account Manager MATT ALDRED [phone] [email protected] Head of Operations KAREN DELAHOY [phone] [email protected] Subscriptions [phone] [email protected] Head of Design STEPHAN SLATER [phone] [email protected] Publisher JONATHAN WATKINS [phone] [email protected] Tungsten Publishing 20 Little Britain London, UK EC1A 7DH [phone] © The Trade is owned and produced by Tungsten Publishing Ltd. ©Tungsten Publishing 2019 Although Tungsten Publishing has made every effort to ensure the accuracy of this publication, neither it nor any contributor can accept any legal responsibility whatsoever for consequences that may arise from errors or omissions or any opinions or advice given. This publication is not a substitute for professional advice on a specific transaction. No reproduction allowed without prior permission. A TIME FOR CELEBRATION (SORT OF) A s the year draws to a close we're presented with another chance to take stock, to review the progress we have made and the triumphs that we can savour. Whether that be personal or professional, I leave for you to contemplate. On a self-congratulatory note, this has been a fantastic year for The TRADE and it would be silly for us not to take a moment to enjoy it. One of 2019’s high points came in November during a packed event schedule, when The TRADE was invited to participate in the first ever closing bell ceremony at the London Stock Exchange. It was a huge honour for The TRADE to take part in a piece of history and, on a personal note, giving a speech at the historic trading venue ranks very highly among my own career highlights. There was also a modest little gathering of industry professionals we call Leaders in Trading. As you’ll see from our coverage, it was another spectacular night at the Savoy, with over 30 awards handed out in front of an audience of over 250 guests. This event just keeps getting better with every year and we’re already looking forward to 2020’s edition. All this year’s winners can be found from page 66 onwards, as well as the full list of our 2019 Rising Stars of Trading and Execution. This issue’s cover profile features David Miller, the most recent recipient of the coveted buy-side lifetime achievement award in recognition of his service to the asset management world and the wider financial markets throughout his career. We sat down in Invesco’s Henley-on-Thames offices to discuss his time in the markets and what he makes of how the industry is evolving. Elsewhere in this issue Hayley McDowell has taken an in-depth look at the rise of closing auctions (page 50) and how the issue of Swiss non-equivalence is playing out for the European markets (page 42). We have also canvassed a range of market participants to share their opinions on what the coming year holds for the financial world and, spoiler alert, there is one prevalent factor dominating the thoughts of these experts (page 60). I’m sure you can guess what that is. You may also notice that there is no APAC Algorithmic Trading survey in this Winter issue. Having reviewed how we operate our annual surveys, we must acknowledge that electronic trading has moved on to become a globally synchronised phenomenon. As such, to adequately assess the health of the algorithmic trading landscape, The TRADE is folding the APAC edition of the survey into the wider, global Algorithmic Trading survey, which is open for submissions until the end of February, with the full results published in the Spring and Summer 2020 issues of this very magazine. John Brazier Happy holidays and new year from The Editor TRADE. Enjoy the issue. The TRADE Issue 62 // TheTradeNews.com // 3