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Subscription Rates – £ 230 / $ 299 The TRADE is a quarterly publication , prices are for a 12 month subscription period and include four copies of the print magazine .
ISSN 2040-0144
© The Trade is owned and produced by Tungsten Publishing Ltd . © Tungsten Publishing 2023 . 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 fixed income spin
This quarterly edition of The TRADE Magazine has a fixed income spin to it , perfectly timed with a sun-filled trip to Barcelona for the annual European Fixed Income Leaders Summit . It ’ s been another eventful quarter for fixed income , exacerbating existing trends already developing in the space . Fragmented liquidity , reduced balance sheet on the sell-side , drooping volatility and increased regulatory burdens have continued to push fixed income traders into the arms of electronic algo-driven and automated solutions . And vendors and venues are most certainly rising to the occasion as this increased demand sparks snowballing evolution in the e-trading space . This quarter has played host to a scattering of technological announcements , many of which centred around artificial intelligence ( AI ), alongside some major merger and acquisitions with Tradeweb completing its acquisition of Australian outfit Yieldbroker and MarketAxess moving to snap up multi-asset algorithmic trading provider Pragma . Meanwhile , data continues to play an ever-greater role in day-to-day workflows as the industry patiently waits for the implementation of a consolidated tape in Europe . This edition touches on all this and more with in-depth features exploring the use cases for AI in fixed income , the changing role of buyside traders as price makers in the current liquidity climate and what role a consolidated tape will play in the market should the day ever come when one finally arrives . It wouldn ’ t be The TRADE Magazine without an abundance of exclusive buy-side content and I assure you reader , this edition is no different . Starring on our cover this quarter is State Street Global Advisors ’ head of fixed income trading for EMEA and APAC , Sharon Ruffles , accompanied in this issue by a Meet the Desk interview with RBC BlueBay Asset Management ’ s London-based fixed income trading desk headed up by Stuart Campbell , and a Big Interview with BlackRock ’ s Laura-Jane Purnell . The build-up has begun in earnest for The TRADE ’ s glittering annual Leaders in Trading event so be sure to keep your eyes peeled for shortlists as they are published this quarter . As we depart the summer slowdown and enter the rat race that is September , we at The TRADE are eager to see what the next quarter will bring .
Annabel Smith Editor
The TRADE
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