The TRADE 62 - Q4 2019 | Page 3
[ E D I T O R I A L ]
THETRADE
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JOHN BRAZIER
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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