[ C O N T E N T S ]
INDUSTRY
INTERVIEW
Chris Childs, DTCC
DTCC Deriv/SERV chief executive, Chris
Childs, tells The TRADE about the progress
made so far in establishing a global
reporting framework for OTC derivatives.
60
IN-DEPTH
Unpicking the research
unbundling conundrum
64
Over one year since the separation of
payments for execution and research was
introduced via MiFID II in Europe, Hayley
McDowell examines the unintended
consequences of unbundling for buy- and
sell-side institutions and finds an industry
still coming to terms with the change.
SURVEY
MARKET
REVIEW
learing takes centre stage
C
as Brexit threatens
derivatives fragmentation
42
London stands to lose a significant amount
of clearing business from European
derivatives traders as a result of Brexit.
David Whitehouse examines how will this
fragmentation affect Europe’s clearing
landscape.
The exchange spotlight
It may only be a few months into the
year, but exchanges, both new and old,
the world over are providing significant
levels of drama, from US exchange wars
to Europe under Brexit. John Brazier
and Hayley McDowell assess the key
developments in the US and European
exchange landscapes and shine a spotlight
on the ongoing battlegrounds.
71
Brokers are stepping up to the plate in
the post-MIFID II landscape to provide
consistent execution to clients, finds the
first part of this year’s survey.
FINAL
THOUGHTS
48
The 2019 Algorithmic
Trading Survey
Hayley’s Comment
Senior reporter Hayley McDowell considers
the growing trend for front-office
outsourcing.
98
DATA
Fragmentation in Europe
LiquidMetrix analyses the consolidated
performance figures for stocks on major
European indices and the changes from the
previous quarter.
94
Issue 59 // TheTradeNews.com // 5