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ISSN 2040-0144
© The Trade is owned and produced by Tungsten Publishing Ltd . © Tungsten Publishing 2024 . 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 .
Hold on to your hats
The first quarter always sets the pace for the rest of the year and if the last few months are anything to go by then the market should prepare itself for another steady boil . While fears around recession and further interest rate hikes are now somewhat subdued , there remains a chance that things might bubble over once more .
The future macroeconomic outlook of many countries is uncertain thanks to the plethora of elections taking place in the next year – around half of the world ’ s population has the potential to experience a change in political regime – and with that seismic shift looming , there are undoubtedly going to be reactions that end up rippling into the global markets .
Zoom in from the global macroeconomic outlook and markets are also set to experience several other major regulatory changes – not least the shift to T + 1 in the US set for 28 May . A consolidated tape continues to tease us like a mirage in the desert as other themes to become even further entrenched in our day-to-day such as the overpowering need for smart data in the execution process , the shift to the cloud and whether or not digital assets will take off institutionally in light of the regulatory milestones reached in recent months .
This issue of The TRADE Magazine covers all this and more with in depth looks at how transaction cost analysis ( TCA ) is moving away from a compliance tick box exercise and becoming more real-time and forward looking in the execution process , the parallels between traditional and digital assets market structure and the likelihood that liquidity will likely follow suit as trading venues shift to the cloud .
This magazine also includes a write up of The TRADE ’ s annual Algorithmic Trading Survey Long-only , which saw a record whopping 2,222 responses this year by 570 traders , a write up of our annual Diversity and Inclusion Survey and the latest highlights from news and people moves .
It wouldn ’ t be The TRADE Magazine without a large helping of exclusive buy-side content for you to sink your teeth into and this quarter we ’ re delighted to feature Bluebell Capital Partners ’ head of trading , Pete Papanichola and Robeco ’ s global equity trading desk as our cover star and Meet the Desk interview , respectively .
I say this every quarter , but it ’ s never not true , we love putting this magazine together as much as we know you love to read it . Here ’ s to another eventful year to put us through our paces !
Annabel Smith Editor
The TRADE
Issue 79 // thetradenews . com // 3