If bravery is defined as sticking your neck out and making bold predictions during a period of extreme uncertainty, then Michael Gooch, chief executive of GFI Group, is a brave man.
He says the brokerage he founded in 1987 will follow in the footsteps of rival Icap – which acquired Plus Stock Exchange in May – and buy an exchange. Bilaterally executed over-the-counter trades will account for no more than 5% of the business of any of the big brokers in the future, he says, which will lead to cons
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- Quantile, TriOptima face off in cleared swaps compression battle
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quants stymied by lack of alternative risk premia flows data