Contents


18


48


54 n Viewpoint


59 The global collateral challenge Clearstream’s Stefan Lepp discusses anew approach in the post-crisis world


64 Data management to improve risk


management Stephen Engdahl gives his measured opinion


n Asset class focus – Equities trading


28 The state of play Lynn Strongin Dodds, Best Execution


32 Feeling the squeeze Asif Abdullah, GreySpark on outsourcing


35 A new look Ian Peacock, Kepler Cheuvreux on execution services


36 Too late to hold back the tide Denis Orrock, GBST Capital Markets on FTT


Best Execution | Summer 2013


67


38 Of figures and fairness Michael Krogmann, Deutsche Börse on market quality


40 Is simply achieving EBBO good


enough? Darren Toulson, LiquidMetrix on retail trading performance


42 Yesterday’s gone James Hilton, Credit Suisse on market structure


44 Solid foundations Sergey Sinkevich & J.P. Natkin, Otkritie on DMA


REGULARS


6News reviews 78 Analysis – LiquidMetrix 82 Analysis – TAG 84 Directories


5


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