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07/18
Buy versus Build Part 6: Agility is the key

Product evolution is a fundamental part of a vendor’s value proposition, but it's not just about building new code. The product must fully meet the bank's requirement and evolve in line with industry change.

The final part in this series explores how the buy and build model can be optimised to enable large banks to focus on vital differentiation while leaving the delivery and heavy lifting to others.

PDF (0.25 MB)
07/18
Buy versus Build Part 5: Integration and data access

An effective approach to combining multiple data sources is becoming a vital source of competitive edge for equity trading firms operating in an increasingly digitised world.

Part 5 of this series explores the ways in which these firms can derive timely and actionable intelligence from the data available across multiple systems, whether built or bought.

PDF (0.34 MB)
06/18
Buy versus Build Part 4: Innovation and change control

No vendor business application or module can consistently meet all of the needs of the larger sell-side equities trading firms. These firms need to be able innovate and differentiate – that's the competitive nature of the industry and the crux of the 'build AND buy' goal.

In the latest instalment of this series, we examine how these firms can achieve the optimal blend of innovation and change control so as to protect their IP and maximise their competitive differentiation.

PDF (0.24 MB)
06/18
Buy versus Build - Part 3: Solving the 'who's in control' conundrum

Without the right pedigree in performance, resilience and delivery, 3rd party suppliers will always struggle to convince large banks that they can play a central role in provisioning their trading platforms.

But with a vendor that can satisfy all these hygiene factors, banks can use the build AND buy model as a source of real and sustainable competitive edge without losing control of their technology.

PDF (0.28 MB)
06/18
Buy versus Build - Part 2: Not all vendors are the same - old and new challenges

With many firms in the global equities space spending 75% of their IT budget simply maintaining legacy systems the traditional 'build only' approach to their global equities trading technology is becoming increasingly hard to justify.

What's needed is a new approach that combines 'build and buy' to allow these firms to dial in just the right blend of in-house created IP and 3rd party heavy lifting.

PDF (0.25 MB)
05/18
Buy versus Build - Part 1: Rebalancing the Paradigm for Global Equities Technology

It's time for a re-think if banks are to get the best out of the technology that underpins their global equities trading.

Despite the billions of dollars involved, many top tier equities trading businesses are having something of an identity crisis. Trading volumes have been flattening since the global financial crisis and the correlation between risk and volatility seems to be breaking down.

PDF (0.29 MB)
White Papers 10/16
Checking the Unchecked – How a Key Market Access Rule Laid the Foundation for A Stronger Financial System

The shift to electronic trading in the 90s and early 2000s made it possible for buy-side firms to connect directly to stock exchanges, via sponsored brokers, without the need for human interaction. In turn, this electronic access encouraged the development of intelligent algorithmic and automated trading strategies. However, as trading evolved to offer substantial advantages to the technologically savvy, questions were raised about whether the financial industry could manage the risks inherent to this direct and automated market access.

PDF (0.13 MB)
White Papers 10/16
RegNMS: Rules of Engagement for an Electronic Era

The technological advances that swept financial markets in the mid-1990s fundamentally changed the way securities were traded. The vast majority of these changes were positive – electronic trading lowered costs and made it possible to execute trades with unprecedented speed and accuracy, and across a growing number of venues and market centers.

PDF (0.15 MB)
White Papers 10/16
A Tick too Far: How Decimalization Changed the Industry (and Why it’s a Hot Topic Again)

In the mid-1990s, financial markets still had a long way to go in terms of achieving today’s levels of electronic sophistication and interconnectedness. Still, increased automation was helping drive a certain degree of uniformity and standardization in many of the world’s markets. For example, most of the world’s marketplaces had adopted a decimalized trading system in which share prices were quoted in penny (or local currency) increments.

PDF (0.20 MB)
White Papers 09/16
Embracing Transparency: How the SEC’s Order Handling Rules Redefined Market Making

The boom in electronic trading in the 1990s brought to light many inefficiencies in the ways equities were traded at the time. Specifically, NASDAQ market makers were under scrutiny for the methods they used to display stock quotes and liquidity. It was very similar to the scrutiny we see off-exchange trading experiencing today, and it led to considerable changes.

PDF (0.13 MB)