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Scott Bradley head of sales, marketing and business development,
LSE Cash Secondary Markets and Turquoise
With geopolitical and regulatory
uncertainty around Brexit planning
taking up much of the focus and
resource for 2019 and with two
years of post MiFID II experience
now digested the trading commu-
nity will be looking to drive further
innovations in the search for
meaningful liquidity. New trading
channels such as frequent batch
auctions have continued to gain
support for their quality outcomes
in all sizes of execution and the
second half of 2019 saw record
numbers in conditional dark block
trading mechanisms, a sign that
investors and traders alike are
keen to capture mid-point block
opportunities. 2020 will continue
to see us work closely with market
participants to foster the best
possible liquidity ecosystems
taking into account the myriad of
changes which have taken place
over the past two years and to
reflect the changing face of the
customer in cash equity markets.
Alasdair Haynes CEO and founder, Aquis Exchange
Let’s hope that 2020 will live up to
its name and be a year of clear vi-
sion. After years of political uncer-
tainty which has held back market
turnover, we are all looking for-
ward to going back to normality.
I believe the investment banks
will see further retrenchment
and be forced to adapt
their business models, recognising
that a paradigm shift is required
for long term survival and growth.
The clear focus for them will be on
costs. Elsewhere, the importance
of data – its ownership, storage,
distribution and price – will con-
tinue to grow and, I suspect, take
centre stage next year. Within my
own sector, and
not withstanding
Hong Kong’s abortive tilt at the
LSE, it looks like the battle of the
bourses will continue apace with
the BME being the latest exchange
to be fought over. I expect 2020 will
be a pivotal and exciting year for
much of our industry.
Dave Howson chief operating officer, Cboe Europe
With some clarity around Brexit in 2020, I
think we will see investors return to the
market and volumes increase. I think we
will also see the formulation of MiFID 2.5
that takes into account the new dynamic that
will exist between the UK and EU as a result of
Brexit. As such, we’re pleased to see regulators moving
forward with a consolidated tape, which we believe is a
critical component to healthy, vibrant and
interconnected European capital markets.
Issue 62 // TheTradeNews.com // 63