SEFs will turn what is now a deep and liquid market into a broad and shallow one, she said. She pegged the number of SEFs that will initially register at 17-20.
Observers were warned that they will need to get used to, perhaps for the first time, being a consumer of and provider of liquidity. "Being a price maker may not be natural to a lot of asset managers because for decades, best execution has made us a consumer of liquidity," she said. "But you're going to see that behavior change. The buy
Anthony and James delve into how the systematic internalizer regime is shaping up, and then examine the regtech sector.Subscribe to Weekly Wrap emails