Exchanges, Trading and Clearing

The last 10 years have seen an onslaught of regulation, but also fresh challenges to markets’ stability. We look at the implications of some of the biggest changes brought by automation, cryptocurrencies, the Brexit vote, the downfall of Libor and the opening of new markets, including China.

© Cat O’Neil

Some fear a new series of threats to market safety

The City is having to prepare for a new life outside the EU

Volatility is no bad thing for those with an eye on the long term

Some say the sector will never have real resilience

Foreign investors welcome recent moves but wish progress was faster

Surging consumer demand led entrepreneurs to establish ‘indentity preserved’ venue

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Dispute hangs on whether fees are deemed to be fair

Large institutions have already issued bonds linked to new benchmarks such as Sofr and Sonia

The suite of European rules has yet to be put fully to the test