P&L’s managing editor Colin Lambert and editor Galen Stops are joined by guest podcasters John Crouch and Brandon Primack to discuss the hot topics from the first day at Forex Network Chicago for this In the FICC of It special.
The podcast looks at how platforms seek to build a better liquidity landscape through the effective monitoring of both liquidity providers and consumers – and inevitably data rears its head. Primack discusses how some participants are chasing the last update and the importance of maintaining a consistent liquidity service – and what platforms can do to reward good behaviour, while Crouch talks about the importance of a diverse set of LPs across markets and currency pairs.
Continuing the ticking of the Lambert trigger points there is a brief discussion around last look during while Crouch questions exactly where in the trading process last look should be measured, and Stops relates how sensitive people are to the phrase “speed bump”. There is also a healthy discussion around the benefits (or otherwise) offered by the high frequency trading community and the obsession with speed in some markets.
The role of innovation and the impact of regulation and the FX Global Code on the key themes of liquidity and execution are also debated before the podcast ends with Crouch really wanting (honest) to hear an old trading story from Lambert. So, if you really want to hear the ultimate story regarding operational risk, DEM/ITL (look it up kids) and using signalling risk to your advantage – listen on!