©Daniel Haskett

In this report

The market structure industry, which includes exchanges, clearing houses, brokers, traders, banks and data providers, has had to deal with its own set of post-financial crisis problems. Low volatility has squeezed profits. Exchanges are dealing with increased competition and regulation, and there are fresh concerns about systemic risk

Trading industry strives to find its form

Low volatility, new rivals and onerous rules are taking their toll

Shrinking margins and higher costs drive down returns

Banks are already cutting jobs but may have to alter their business models permanently to counter growing disruption

Workers change a drill pipe on the Laurus oil drilling rig operated by Petroleos Mexicanos (Pemex) in the Ku-Maloob-Zaap oilfield at Campeche Bay off the coast of Ciudad del Carmen, Mexico, on Friday, Aug. 1, 2014
©Bloomberg/Susana Gonzalez

Oil price swings come too late for banks who made desk cutbacks

Volatility may fuel revival in trading but regulation bears down

Kevin McPartland

Search for liquidity tests corporate bond market

As banks retreat amid volatile conditions, electronic platforms are focusing on larger deals

China’s reforms boost integration with global markets

Modernisation of the financial system has been swiftest in areas such as swaps and commodity futures

Per Sjöberg

Interview: Per Sjöberg, chief executive, TriOptima

A simple but highly efficient approach to managing risk

NSEL bourse scandal highlights shortcomings

The incident has raised deeper concerns about the standards of oversight by India’s regulators

The Nasdaq logo is seen on the exterior of the Nasdaq MarketSite in New York, in this April 2, 2013
©Brendan McDermid/Reuters

Jobs Act to simplify capital raising boosts crowdfunding

Incumbent exchanges are also taking advantage of the reforms

Damian Carolan

Clearing house members fear they may have to stump up in case of a failure

Current recovery plans could place an unacceptable burden on investors

Start-ups making waves in Chicago’s derivatives industry

Broader technological trends are bringing down the cost of entry for financial technology companies

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