Latest Episode

Political uncertainty changes the way bond portfolios are managing risk. In December’s show Kay Swinburne MEP, Vice-Chair of the European Parliament’s Committee on Economic and Monetary Affairs and Luke Hickmore senior investment manager at Aberdeen Standard discuss how Europe’s political landscape might impact investment and trading decisions; Lee Bartholomew, head of Derivatives Product R&D in Fixed Income at Eurex outlines the way that derivatives might be used to manage event risks and provide possible solutions approaching for 2019 in fixed income.

A shadow of disruptive events hangs over the stock markets in 2019. Gianluca Minieri, CEO of Amundi Intermediation UK & Ireland, explains the skills and tools that a buy-side trading desk needs to handle these risks, and Tim McCourt, Global Head of Equity Index and Alternative Investment Products at CME Group highlights the value of derivatives when handling event risk in the year ahead.

How do investors know if their traders are doing a good job? A white paper has been published by the Investment Association (IA), to explain exactly that. Carl James, global head of fixed income trading at Pictet Asset Management, and head of the IA’s fixed income trading committee, and Ross Barrett, senior policy advisor at the IA, to discuss why investors need clarity on this issue, while Mike Thorpe, managing director at Tradeweb Europe explains if and when bond trading execution can be quantified and benchmarked.

Trader TV captured the most surprising and interesting takeaways from:

Paul Reynolds, head of fixed income at TradingScreen;
Frank Cerveny, head of markets at MTS;
Mike Thorpe, managing director, Tradeweb;
Giuseppe Nuti, managing director and global head of the central risk book and data analysis at UBS;
Lee Bartholomew, head of derivatives Product R&D for Fixed Income at Eurex;
Richard Colucci, head of sales, Algomi;
Scott Eaton, CEO, Algomi;
Henry Wallis, WBR.

Speaking at the Fixed Income Leaders Summit, held in Amsterdam between 6-8 November 2018.

Roelof van der Struik, manager for Treasury Trading & Commodities at PGGM says the repo market is broken; he tells us how the Dutch pension fund manager is using electronic platforms to correct the broken repo market.
At the same time (from 06.36), the Securities Financing Transaction Regulation (SFTR) promises to severely impact market efficiency yet Tom Harry, Product Manager at MTS and Steve Holland, SFTR Product Manager, UnaVista believe that SFTR will strengthen buy- and sell-side relationships.

Giuseppe Nuti, managing director and global head of the central risk book and data analysis at UBS explains how an AI system can work even on sparse bond market data, while Jim Switzer, global head of fixed income trading at AllianceBernstein, reveals his firms plans for AI on the buy-side desk. Market data provided by MTS.

Trading costs do not have to be higher in emerging markets, says Mark Denny, head of dealing for global markets at Investec Asset Management. He gives us an update on the last quarter, with a masterclass in how to build relationships and electronic trading capability in EM, to deliver best execution.

How to trade in turbulent emerging markets? Using heatmaps of liquidity and all-to-all platforms has helped traders handle the recent volatility in emerging markets, says Chris Perryman, senior fixed income trader at PineBridge Investments, while Angelo Proni, head of new markets at EuroMTS says better data drives better results. Government bond data supplied by MTS.

Three charts that tell traders what look out for in US credit in 2018. We speak with Edward Casey, independent portfolio manager, about the corporate bond market in the first half of the year, likely trends in the second half of the year and the impact they will have upon execution of investment ideas. Government bond data supplied by MTS.

Traders are developing quantitative skills in order to apply a systematic and structured approach to trading and execution analysis. In June’s show, Enrico Cacciatore, senior quantitative execution trader for Voya Investment Management explains how quant traders approach the market, and reveals what investors ought to ask of their asset manager’s quant trading desks.