Contents : Welcome note :
THETRADETECH DAILY
THE OFFICIAL NEWSPAPER OF TRADETECH 2024
Contents : Welcome note :
5 Key conference themes 6 The dark trading debacle - does anyone even care ? Following a last-minute decision from Brussels in March to plug an accidental regulatory loophole , Annabel Smith explores what might ’ ve happened if the European market was left with no caps on dark trading and whether the events signal a wider issue in the European regulatory machine .
10 Latest news and moves
18 Sponsored : RBC ' s Aiden VWAP : A new era of AI trading in Europe , leveraging advanced AI and deep reinforcement learning to achieve optimised execution AI is not merely a tool , but a catalyst for change setting new standards and expectations . Amidst this transformation , the need to stay agile is paramount , writes RBC Capital Markets ’ European head of multi-asset agency solutions , James Hilton .
20 Tim Miller : Innovation in ETFs will lead to increased opportunities Senior trader at Fidelity International , Tim Miller , speaks to The TRADE about the impact that growth in the ETF landscape is having on trading behaviours , innovation in the space and how new platform capabilities are helping enhance liquidity and execution quality .
21 Oriane Cochard : The future is versatile The TRADE sits down with equity trader at T . Rowe Price , Oriane Cochard , to explore the versatility of new talent reaching the trading desk and how the hiring process has changed to accommodate this .
22 Kendell James : The importance of algo selection in achieving best execution Multi asset trader at Federated Hermes , Kendell James , sits down with The TRADE to explore the increasing importance of algos in achieving best execution , unpacking what the market should be prioritising when it comes to algo selection , the biggest roadblocks to adoption , and how usage is evolving .
23 Fabien Oreve : Fixing Europe ’ s future markets The TRADE sits down with deputy global head of trading and securities financing at Candriam , Fabien Oreve , to explore the future European trading landscape including solutions for low volumes and increased fragmentation , the role of the central limit order book ( CLOB ) and the new generation of order and execution management systems ( OEMS ).
24 Matt Howell : Reimagining equity derivatives Head of derivatives and multi-asset trading solutions at T . Rowe Price , Matt Howell , sits down with The TRADE to unpack some of the key themes when it comes to equity options , swaps and index futures , including industry talking points for the year ahead , methods for leveraging transaction cost analysis ( TCA ), and how to achieve best execution .
25 Antish Manna : Leveraging algo strategies to ensure the best outcomes Head of execution analytics , multi-asset , at Man Group , Antish Manna , sits down with The TRADE to explore how to leverage algorithms to achieve the best results , touching on machine learning , broker collaboration , and ensuring minimal bias .
26 Adrian Bradshaw : Retail liquidity - the current state of play Senior equity dealer at Invesco , Adrian Bradshaw , sits down with The TRADE to discuss : the key factors to bear in mind when it comes to accessing retail liquidity ; the current challenge for the buy-side ; and the importance of effectively leveraging platforms .
27 Laurent Clavel : Exploring the macroeconomic impact on the cross-asset landscape The TRADE catches up with Laurent Clavel , global head of multi-asset at AXA Investment Managers , to discuss the impact of geopolitical risks on different asset classes , the impact of elections this year , as well as how volatility alters trading strategies .
28 The full TradeTech 2024 Agenda
It ’ s that time of year once again where the equity trading community congregates together in Paris for one of the most significant events in its calendar . TradeTech Europe offers those operating in our space a platform to raise their voices above the noise and talk about the topics that really matter to them . Every year , friends and colleagues gather together and The TRADE is delighted to return once again to the Palais de Congrès as the official media partner to the event . Right , that ’ s the positive bit out of the way , time for some harsh realities . As we enter Q2 , traders once again find themselves in a continuously challenging environment and on the cusp of yet another wave of change to navigate . Markets globally are teetering on the precipice of moving towards a rate cutting regime , with many looking to the plethora of elections going on globally as a key driver for this change . Meanwhile the regulatory landscape continues to shift as amendments agreed as part of the Mifid review roll out into the market and the industry prepares for the shift to T + 1 in the US . Against this backdrop , trading desks have been forced to become increasingly advanced and savvy with the way that they operate , whether that be through new strategies or technology . These themes are translated into the panels you ’ ll listen to this week and the content you ’ ll read in this issue of The TRADETech Daily . It wouldn ’ t be a TRADE issue without a string of interviews with buy-side speakers and this year you ’ ll find content exploring optimising algorithms , navigating the macroeconomic landscape , hiring new talent , leveraging retail liquidity and much more from speakers across T . Rowe Price , Man Group , Candriam , Federated Hermes , Invesco , Fidelity , and AXA Investment Managers . The TRADE team will be in full force on the ground at this year ’ s event ( travelling by Eurostar this year instead of pedalling ) so make sure to come and say hello if you spot us . For now , all that ’ s left to say is bonne conférence !
Annabel Smith
Editor The TRADE
www . thetradenews . com 3