“Connectivity platforms that bring together various liquidity pools need to be enhanced. Workflows need to support real-time capabilities to provide traders with as much information as possible as it is occurring in the marketplace.” Jenny Tsouvalis, OMERS
“All trading venues must fully participate in providing liquidity and price discovery. Increased global competition, fee reductions and increasing market volatility requires trade flow monitoring that supports timely Transaction Cost Analysis (TCA) reporting.” Tom Brown, RBC Asset Management
“Traders need to have ready access to, and familiarity with, a variety of tools to use when market conditions are more than any human can handle. Proven algorithms – tailored to local market characteristics, with access to a cross-section of dark and light markets, with appropriate checks and balances to manage risk – can be indispensible during challenging markets. As more traders discover the utility of electronic trading tools as a matter of necessity, their use under “normal” market conditions will grow as well.” Wendy Rudd, TriAct Canada
“Operational risk must start at the beginning of the trade cycle and not just via post-trade clearing/settlement processes. To manage risk and control costs, the monitoring process needs to start when a buy or sell decision is made and information gathered throughout the trade process. This means use of an Order Management System (OMS) feeding an Execution Management System (EMS) or at the least, an EMS.
Best execution takes even greater importance as everyone with fiduciary responsibility will have to be able to demonstrate how they are acting in their client’s interest. The ability to provide a complete audit trail of how orders have been managed requires the use of electronic trading tools throughout the trade process.” AnneMarie Ryan, AMR Associates
“Just five years ago, trading on the Toronto Stock Exchange (TSX) alone was sufficient to fulfill the perception of best execution. Today, the picture has changed dramatically with several new marketplaces. As this trend continues, trading in Canada will involve a greater focus on connectivity, algorithmic trading, and the need for institutional investors to ask new questions of their brokers to assess trading prowess.” Alison Crosthwait, ITG
“Electronic Trading is here to stay and will only grow as markets become more fragmented and the need to discover liquidity becomes more important. Electronic trading has always shown strong growth in volatile markets as customers take more control of their orders and look to tools that will alleviate any additional volatility that traditional trading may impose.” John Christofilos, Canaccord Capital
For more details: www.etradingcanada.ca
Finding solutions – Now in its 5th year, the FPL conference in Canada tackles the tough issues
