Trading Matters: New ITG Survey of Canadian Trading Professionals
- ETFs – a majority of respondents (64%) are very concerned or somewhat concerned that liquidity could be negatively impacted by the growing use of exchange-traded funds.
To remain competitive in the ETF space, 38% of respondents say brokers need to provide capital as an ETF market maker, while 36% think brokers need to develop analytics to provide NAV transparency for ETFs. Only 19% see a need for brokers to build ETF-specific algos.
- Broker Transparency –
Canadaremains one of the few developed equity markets to employ public broker numbers for trades, and those surveyed say the broker numbers are still extremely relevant (42%) or somewhat relevant (48%) in today’s market.
- MiFID II – Most Trading Matters conference attendees agreed that the coming MiFID II rules on unbundling research from execution will likely be positive for independent research providers, as smaller asset managers devote more of their investment research budgets to the independents. 84% of respondents currently use independent research at least some of the time. The survey showed that unbundling is not just a European phenomenon, with 17% of respondents reporting that they are already fully unbundled and another 44% planning to unbundle in 2018 or thereafter.
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