Changes in Market Microstructure & Intelligent Execution Tools

Speaker: Richard Hills, Co-Head of Global Equity Execution, SG Global Execution Services

The introduction of Mifid II in Jan 2018, brought headlines such as the end of BCN’s, the abolition of OTC in equities, caps on dark trading, growth of Block Trading and a modified Systematic Internaliser regime. The intention was to bring equity trading onto lit Regulated Markets and usher a new era of transparency.

But what actually happened.  By forensically analysing trade volumes and trade reporting databases, we can see:

• Has OTC actually ended
• Where did the dark flow go
• Has the SI growth really been as impressive as it seems at first glance
• Where is the real liquidity now
• Where are the electronic market makers now
• Are periodic auctions a significant

Speaker: Vincent Maury, Delta One Trading Specialist

‘Presentation of three of SG’s trading tools designed to save costs and improve performance by Robert Butler. 

Two are unique to SG:

• Futures Roll box: giving clients full transparency of historical rolls including market depth, current roll market with depth and prediction of roll move
• COF Box: Just 3 weeks old, gives full transparency and understanding into Cost of Finance (COF) parameters, showing current and historical levels for every  COF maturity on curve

Basket scan is not unique, but a powerful tool is a Pre-trade impact and liquidity measure giving trading desks clarity into how much time will be needed to execute a given share, basket or index covering more than 5000 names’

Please note this is a manager only event. To register, please email [email protected]

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