Contents:
Welcome note:
THETRADETECH DAILY
THE OFFICIAL NEWSPAPER OF TRADETECH 2025
Contents:
5 Key conference themes
6 Sponsored: Building the case for AI in capital markets As new artificial intelligence and automation solutions continue to come to market allowing firms to be better trained, more flexible, and more efficient, Group head of low latency at the London Stock Exchange Group( LSEG), Patrick Flannery, unpacks the key use cases for these technologies and how firms can best leverage them to improve their workflows.
8 Latest news and moves
16 Cover feature: European Commission exploring US-style order protection rule among other market reforms New consultation paper explores how effective US Reg NMS rule is while also re-tabling VWAP Crossing in Europe, reviewing dark trading levels, the prospect of 24-hour trading and more.
18 Simon Hordum Bonde: Buy-side must prioritise needs before wants when it comes to data The TRADE sits down with Simon Hordum Bonde, head of trading quants at Nordea Asset Management, to discuss what’ s front of mind when it comes to continued data consolidation, the ongoing pursuit for high quality, and the impact of third-party data on trading processes.
19 Sam Vaughan-Jones: Pre-trade analytics and transaction cost analysis – more important than ever? The TRADE sits down with Sam Vaughan-Jones, senior equity dealer at Royal London Asset Management, to unpack how the buy-side is adapting in order to get the most out of TCA pre-trade, what needs to be prioritised when it comes to creating the best data sets for high touch trades, and which recent developments are having the most impact on pre-trade analytics.
20 Ash Sharma: The evolving role of transaction cost analysis in equity futures trading Ash Sharma, multi-asset trading analytics manager at Aviva Investors, speaks to The TRADE about the importance of transaction cost analysis( TCA) when it comes to equity futures trading, delving into what sets it apart from other asset classes, how it is continuing to evolve, and what should be front of mind for the buy-side going forward.
21 Jason Conan-Davies: Enhancing financial literacy is the key to retail success The TRADE sits down with Jason Conan-Davies, head of trading, Nutmeg, to unpack the role of diverging market structure when it comes to retail trading across the US and Europe, the current state of play across exchanges looking to attract more retail order flow, and how more retail participation could be attained in Europe.
22 Dmitri Mongeot: Assessing the global derivatives landscape Dmitri Mongeot, derivatives trader at AXA Investment Managers, sits down with The TRADE to unpack the key EU market structure changes to keep an eye on, the shifting liquidity dynamics between OTC and listed derivatives, and the persistent impact of EU and US divergence.
23 Benjamin Mahe: Building a bridge between TCA and OMS providers The TRADE sits down with Benjamin Mahe, head of high touch trading at AXA Investment Managers, to discuss what needs to be done to help ease the integration and connection between transaction cost analysis( TCA) and OMS providers, the main challenges presented by TCA on the desk, and its growing presence across the buy-side.
24 Ashwin Venkatraman: The case for system harmonisation The TRADE sits down with Ashwin Venkatraman, head of asset management trading technology at JP Morgan Asset Management, to explore both the benefits and the feasibility of harmonising systems on the buy-side trading desk.
25 Pranav Malhotra: System consolidation as a strategic focus The TRADE sits down with Man Group’ s head of algo execution technology, Pranav Malhotra, to explore the firm’ s future algorithmic strategy and the importance of consolidating systems to reduce cognitive loads.
Welcome note:
It’ s springtime in Paris once again and we’ re back for TradeTech Europe 2025, the industryleading forum for equities trading. 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. As we plough on into Q2 the word on everyone’ s minds seems to be volatility. While US tariff-led turbulence from the last few weeks has proved challenging for many, European trading volumes have lifted throughout the start of this year to provide a more positive spin on a testing situation. UK and European regulators are continuing to assess their own transition to T + 1 settlement after the North American migration last year, market data costs are front and centre in industry debate once again and the prospect of 24 hour equities trading is looming as many US trading venues look to extend their operating hours. Meanwhile, the regulatory landscape unsurprisingly has continued to shift, with watchdogs now potentially exploring a more UScentric approach to regulation. These themes will prove central to the next few days’ proceedings, either being dissected on stage during panels or explored over a coffee on the exhibition floor. It wouldn’ t be a TRADE issue without a string of interviews with buy-side speakers and this year you’ ll find content exploring transaction cost analysis, pre-trade analytics, equity futures trading, retail trading, the global derivatives landscape, system harmonisation and more from speakers across Nordea Asset Management, Royal London Asset Management, Aviva Investors, Nutmeg, AXA Investment Managers, JP Morgan Asset Management and Man Group. As some of you may have noticed, we’ ve had a changing of the guard here at The TRADE in the last few months so keep an eye out for the team on the ground at this year’ s event, including our new reporter Natasha Cocksedge. We hope you enjoy reading this edition as much as we enjoyed putting it together. From all of team TRADE, we wish you a happy TradeTech!
Annabel Smith Editor
The TRADE
26 The full TradeTech 2025 Agenda www. thetradenews. com 3