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THETRADE
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© Tungsten Publishing 2020
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 .
ISSN 2040-0144
Calm before the new norm
It has been a summer unlike any other . As many missed out on planned
summer trips in 2020 , the season has instead been defined by social distancing and heatwaves , or new trends such as the now-fashionable staycation .
News of a COVID-19 vaccine remains uncertain at this stage , and amid efforts to adapt to the new normal , cases globally are seemingly climbing once again in what just might be the calm before the storm . But as we adapt in our personal lives , the industry is acclimatising to a recent bout of new trends that have since come to the fore during the crisis and impacted market structure .
Market participants tell us ( on page 18 ) about how a surge in retail investment has impacted the institutional trading landscape , and we uncover ( on page 50 ) how the crisis has impacted the hedge fund-prime broker relationship .
Our cover stars , senior trading duo at Unigestion , Eric Champenois and Stéphane Marie-Françoise , discuss ( on page 24 ) transforming their trading desk into a multi-asset operation . Then , in an exclusive interview ( on page 34 ), Goldman Sachs Electronic Trading ( GSET ) opens its doors to The TRADE to discuss how clients and the wider business navigated the crisis .
Looking forward , The TRADE ’ s 2020 Execution Management Systems Survey ( on page 65 ) has conjured up some thought-provoking findings this year , suggesting that some providers will need to focus on innovation in the future .
At The TRADE , we are also focusing innovation . After working hard over the summer to diversify our own product range , the editorial team is looking forward to publishing a rather unique digital project before the end of this year , to go along with our TRADE Talks podcast series and TRADE Calls video interviews .
So , while we ’ re all adapting to this new work and social environment , do enjoy this issue which we hope acts as a sort of guide to this ‘ new normal ’, and if you ’ re not in the office to receive the print edition , do get in touch with your home address so we can ensure you still get your copy . After all , you ’ ll need something to read on that staycation .
Hayley McDowell Editor
The TRADE
Issue 65 // thetradenews . com // 3