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Exchanges v MTFs - The Future
of European Securities Markets
The last ‘Post-Trade Forum' (PTF) debate of 2011 was held at the London Stock
Exchange (LSE) in late November and was another well attended event. An eclectic panel from the exchanges/MTFs, broking and
asset management arenas were deliberately selected to promote to debate.
The keynote address was given by Nicola
Horlick, CEO, Bramdean Asset Management who then joined the panel comprising of Brian Winterflood, Life President, Winterflood
Securities, Hirander Misra, Managing Director, Misra Ventures (former co-founder and COO of Chi-X Europe) and Kevin Milne,
Director Post-Trade Services, LSE for a lively debate, which was moderated by Gary Wright, CEO, B.I.S.S. Research.
The debate was held under the ‘Chatham House Rule' with delegates coming from a cross-section of the market with
varied backgrounds which covered many different areas of expertise.
This document reports on the issues discussed
during the debate, which have been grouped for easy reading and express the personal opinions of all participants.
Issues
covered in report
25 Years since 'Big Bang'
MiFID
Exchanges and MTFs: Competition & Best Execution
Anti-Capitalism
Market Value
Hedge Funds
Private Equity Boom & Mega Buyouts
Stock Exchanges & MTFs
Best
Execution & Retail Investors
A Consolidated Tape
High Frequency Trading
The Future of the European Market
Summary
The report on this debate is only available to attendees of the debate or employees of regulated
financial services firms who belong to the Post Trade Forum Group on LinkedIn. Entry to the Post Trade Forum group is free.
To join the group click here
Click here to log in and access this report
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Forthcoming Post Trade Forum Events in 2012
14 April: Operational Risks: Are Clearing
Houses becoming a risk concentrator?
The myriad of Clearing Houses
and CSDs in Europe have caused fragmentation of collateral with OTC entering the picture, increasing the value within clearing
operations, there is growing concern that a Clearing House could fail.
If Clearing
House consolidation gathers pace will there be a greater concentration of risk directly leading to an increased risk of huge
numbers financial services firms being impacted and failing?
How should firms respond
to the potential calamity of Clearing House failure?
Are there actions they should
be taking now to minimise operational risks in the Post Trade areas?
Disclaimer All information in these reports has been checked to the best of the author's and publisher's ability, the
contents of this report are believed to be correct at the time of publication, but cannot be guaranteed. As such B.I.S.S.
Research and Finextra can accept no liability whatever for actions taken based on any information that may subsequently prove
to be incorrect and do not accept any liability for loss arising from decisions based on them. |
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