The landscape of the global exchange market was radically transformed last week with the Deutsche Börse / NYSE Euronext and LSE / TSX mega merger announcements. Debate in the industry will continue for a while on the pros and cons of these soon to be “super exchanges” and one of our financial technology PR clients, Fidessa, was on the front line, right in the thick of it.
On the day the LSE/TSX news broke, Fidessa hosted an event at the TSX on Canadian liquidity fragmentation. Attracting more than 100 financial markets players, a panel of experts including panel moderator, Steve Grob, Director of Group Strategy, Fidessa, Renée Colyer, CEO, Forefactor, Robert Fotheringham SVP Trading , TMX Group, and Robert Young, President, Liquidnet Canada among others, discussed what the merger would mean for not only Canada, but for the global market as a whole.
Although liquidity fragmentation has been on an upward trend over the last few years, many believed the LSE/TSX merger was inevitable, an almost natural evolution given the markets onward march towards globalization. These new super exchanges are hoping to bring increased efficiency, volume and liquidity to the market but the industry continues to get its head around the finer details: implications for co-location, the technology platform used and the impact on regional trading instruments to name a few.
The Aspectus FinTech team relishes this kind of news. We had a great array of spokespeople lined up to react to the announcements, from analysts to alternative trading facilities and of course Fidessa. Our North American division got to listen into the debate live as it unfolded at the Fidessa event at the TSX and a few days packed full of journalist interviews saw our clients quoted in key stories in the likes of City AM, something we’re always really proud to achieve.