18 December 2014

Gary Wright

Gary Wright - BISS Research

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Finextra@Sibos

The Finextra@Sibos community is open to all delegates and exhibitors at the annual financial markets conference organised by financial messaging network Swift.

There can be only one

21 February 2011  |  7365 views  |  0

Consolidation upon consolidation in the Exchange and MTF space with the values given to the purchased or merged business leaves me thinking that in the end there can be only one.

The many MTFs set up just a few short years ago and all based on the same business plan looks like a fast track way to make huge money for the prime investors. Each MTF was set up to attract volume from the Stock Exchanges but based on technology rather than service. This is key as technology always leep frogs in a very shorty period of time and can be easy  to replicate or in the case of the Stock EXhanges catch up

Volume is like the wind at very difficult to retain. Liquidity is just as hard to retain let alone capture and in these market structures the liquidity and volume will be chased arround markets creating activity but based on very little actual investment.

Why then are the MTFs being bought or merged? Its simple the desire to stay in the world game and hopefully create another larger company to merge or be bought for higher and higher sums. If this continues there really only can be one! Maybe thats really what we all want anyway but its a pity its going to take more time and cost a fortune to get there. Be sure though there is huge money being made in this free for all 

TagsDealing roomsTrade execution

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job title Analyst
location London
member since 2007
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CEO of B.I.S.S. Research, founder of the BISS Independent Accreditation for all systems and services provided to financial services companies internationally. Guest Lecturer at Reading University and...

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