Adapt or die

What is the status quo regarding liquidity fragmentation in the US and European markets?Dhiren Rawal, managing director, QUOD Financial: There is a significant amount of fragmentation in the US markets and the way it has manifested itself differently between Europe and the US is really down to the dynamic nature of that liquidity. The fragmentation of liquidity in different venues is being driven by dynamics such as prices and new regulations and we are trying to address that using better an