Trading venue consolidation, the consolidated tape launch, EMS adoption, and AI everything. What a great time for me to have joined Crisil Coalition Greenwich to analyze what this all means and where the market is headed. Consolidation First...

Exchange-traded funds (ETFs) are having a moment. In 2025, total exchange volume for U.S.-listed ETFs soared to a new record of $58.4 trillion, while European-domiciled ETFs also recorded unprecedented highs, exceeding $4.5 trillion. Amid market...

Despite the distinctly Gen Z name, vibe coding isn’t just for kids. More formally referred to as AI-assisted coding, this new way of doing an old thing is having a huge impact on financial services today and will have an even bigger impact tomorrow...

(Full hearing video and opening remarks of other witnesses can be found here.) Testimony before the House Financial Services Committee April 29, 2026 Thank you, Chairman Hill, Ranking Member Waters, and the members of the Task Force on...

While some new technologies show promise in the future, artificial intelligence (AI) is having a big impact now, and fixed-income investors agree. The killer app for AI is a user interface that lets you forget how sophisticated the underlying...

The goal of the FX Global Code (FXGC) is to “promote the integrity and effective functioning of the wholesale foreign exchange market.” The FXGC covers topics ranging from operations and workflow to trading and algorithms to risk management. While...

Originally presented by Kevin McPartland as opening remarks at the 2025 Fixed Income Leaders Summit in Washington, DC on June 10. In 2015, the year of the first Fixed Income Leaders Summit, we asked investment-grade bond traders what their...

A good broker can transform an equity trader’s day. They’re not just order-takers, they’re problem-solvers, partners and sometimes even advisors. But reaching that level of trust and understanding requires give and take. Communication is key—and...

For the corporate bond market, the last decade was about the growth of electronic trading. The buy side wants the next to be about automation. In December 2024 and January 2025, we asked 67 buy-side corporate bond traders in the United States and...

As we look back on the past year, it's clear that market structure and technology continue to shape capital markets in every way. Our nearly 80 published reports, blogs and webinars in 2024 examine in detail how those changes are shaping markets and...