Risk: In a recent study 63% of end-users identified Libor transition as a top priority for 2020, yet only 21% claimed to be “appropriately prepared”.
Financial Times: “What we really do not want is when you start to see cracks in the retail book,” said Gaurav Arora.
Bloomberg: “Corporate banks are becoming a bit more discretionary about permitting draws on credit lines where hoarding cash is the sole objective,” according to Gaurav Arora.
Wealth Professional: “That spread is an indication of the increased difficulty of executing what should be a risk-free arbitrage,” said Ken Monahan.
The Desk: “This trend could indicate that when it comes to sourcing liquidity, the buy side finds that a marginal dollar spent on technology returns more than a marginal dollar spent on talent,” says Brad Tingley.
Funds Europe: According to Greenwich Associates, annual budgets average $2.8 million for fixed-income trading desks, $1.8 million for equity trading desks and $1.6 million for foreign exchange desks.
Bloomberg: “They can lose money on ETFs but they won’t become litigants in a bankruptcy,” said Ken Monahan.
WSJ: “The ETF complex is by no means broken,” said Ken Monahan.
The Trade News: Report from Greenwich Associates found that technology spending on buy-side trading desks increased slightly by 4% year-on-year.
The Block: Swanson said a closure of the floor for an extended period could "change the mental calculus."
