We are officially in the dead of summer. In New York, we're getting into the triple-digits—Fahrenheit, of course—and the thermometer is about ready to pop.
Now is as good a time as any to go away on vacation—which is what many in the industry will do as we head into August. This is a good plan, because not only do you get a chance to beat the heat; everyone in the industry is going to need a few weeks to unwind and mentally clear their heads, because starting in September, the regulatory push will hit a fevered pitch.
"It's really about getting your ducks in a row," Thomson Reuters' Fredrick Scuteri, the vendor's US head of hedge fund markets, told me recently when I asked him how his clients are preparing for the autumn.
Then yesterday I met with Tony Freeman of Omgeo for lunch. Freeman, who is executive director of industry relations for Omgeo, says there's even a bit of a wait-and-see attitude among buy-side participants on the other side of pond as firms wait for final rules regarding transaction settlement cycles and clearing-versus-non-clearing rules. (BST will have a podcast on the latter with Tony in the near future.)
And earlier this week, we had members of TowerGroup, SimCorp and Sapient Global Markets join us to discuss a litany of topics surrounding the buy-side space in the context of the changing regulatory environment. (You can view the video here.)
The point is this: There's a lot of change knocking at the door, so get your rest and relaxation in now while you still have the chance.
Just remember that if I call looking for an interview, I don't care if you are marlin fishing in the Caribbean—you better take the time to return my call!
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