Nigeria’s capital markets: An emerging opportunity
Greenwich Report
Africa’s capital markets are shifting from episodic primary issuance to sustained, two-way secondary trading. Over the last year, liquidity has improved across select markets, supported by reform momentum, better market structure and a widening...
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The Coalition Investment Bank Index, which tracks the performance of the 12 largest investment banks globally, demonstrated robust performance in FY25, rising 14.5% year over year to $174.7 billion.
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Municipal bond e-trading reaches new record
MarketView
Nearly 21% of municipal bond volume traded via multidealer trading venues in Q1 2026, eclipsing both the previous quarter and the high-water mark set in Q4 2023.
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Lower capital requirements set to unleash bank market-making
Greenwich Report
For the past two years, U.S. global systemically important banks (G-SIBs) have operated under a regulatory overhang. Fearing a punitive Basel III endgame that initially threatened a ~20% hike in capital requirements, the industry built significant...
FX Spotlight: Buy-side traders focused on best ex, algos and NBLPs
Greenwich Report
In 2025, we interviewed 113 buy-side FX traders to better understand their dealer relationships, use of technology and views on nonbank liquidity providers (NBLPs) and other market structure trends. The aggregate results of these conversations make...
The derivatives industry: Trends and implications
Greenwich Report
Derivatives volumes grow and shrink based on a long list of factors, including trading firm goals (e.g., speculation, hedging), the state of the underlying markets (e.g., energy, agriculture) and changes in market structure (e.g., electronic trading...
An average of $65 billion traded per day in the U.S. corporate bond market in March, a record surpassing the previous high-water mark set the month before.
U.S. Treasury trading activity in March 2026 surpassed the tariff-fueled previous record set in April 2025, up 32% year over-year to $1.4 trillion per day and 7% above the previous record.