FI trading focus on Best execution
Caroline Brotchie, Head of European Sales at Algomi, discusses credit best execution.
The changing face of the credit markets has been discussed ad infinitum in recent years. Everyone recounts the good old days of 2005 when traders didn’t pass on a trade, and always stood up to a price. BWICS and OWICS with line items of EUR 5-10m barely caused a shrug. But times, have changed. The real risk takers no longer sit on sell side trading desks, they are the big institutional money managers. “Flow” products are increasingly tough to trade in any real size. Prices on the screen sometimes don’t work whichever side you try.
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