When it comes to fixed-income trading there's a natural inclination to want to rehash what worked in equities and carry it over. But fixed income—with its credit and rates markets, on-the-run treasuries and off-the-run treasuries—is vastly more complex and nuanced. Equities has pre-trade price discovery, with a well-lit, multi-lateral best bid/best offer structure built in that industry participants can see, whereas fixed income largely works on a request-for-quote (RFQ), dealer-centric model.
Anthony and James delve into how the systematic internalizer regime is shaping up, and then examine the regtech sector.Subscribe to Weekly Wrap emails
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