contents
AC
ADAM
Buy -side
[ D E P
A R T M
E N T
|
H E D ]
LEADERS
IN TRADING
AWARDS
CONN
influencer
Adam Conn,
head of dealin
the Lifeti
g at Baillie
me Achie
Gifford, was
vement award
in Trading
awarded
awards this
at The TRAD
year. Hayle
E’s Leade
story behin
rs
y McDowell
d the man
finds out
considered
the
to be one
influential
of the most
buy-siders
in Europe.
28
TheTrade
And the winner is…
Winter 2017
Issue 54
TheTradeNews.c
om
The trading awards event of the year saw
over 220 of the industry’s finest celebrate
the achievements of the buy- and sell-side
over the past 12 months. We bring you the
winners and highlights from the evening.
29
EDITORIAL
“It’s a new dawn, it’s a new day…”
03
NEWS UPDATE
Keeping you informed with
the latest industry news
B U Y-S I D E
COVER INTERVIEW
Adam Conn, Baillie Gifford
As head of dealing at Baillie Gifford, Adam Conn
was handed the Lifetime Achievement award
by The TRADE this year. We talk to one of the
most influential buy-siders in Europe.
IN-DEPTH
Bitcoin: Friend or foe?
06
28
12
The now infamous cryptocurrency is sparking
interest among the institutional investor
community but will its dark history, volatility
and technological issues hold it back?
22
MARKET
REVIEW
Go with the flow 36
Battle of the blocks 42
Broker crossing networks will be banned as
various new trading venues enter the scene
in 2018, so where the order flow will go
and who will be the winners and losers?
As recently established block trading
venues battle for market share ahead
of MiFID II, we investigate if this is
exacerbating market fragmentation and
which venues are coming out on top.
[ D E P
A
As US regula
t
facility equi
Commission
impacts for
ma
the ne
48
4
TheTrade
Winter 2017
TheTrade
Winter 2017