| Answer Options |
Response Percent |
| Sourcing liquidity | 34% |
| Protection against HFT and information leakage | 11% |
| Fragmented trading platforms | 40% |
| Accurate risk analysis | 62% |
| Regulation and compliance | 44% |
| Reporting and transparency | 32% |
| Measuring best execution, managing | 16% |
| Sourcing reliable data | 35% |
| Generating value from your sell side partners | 16% |
| Managing a declining headcount – Having to do more with less | 10% |
| Other (please specify) | |
What are the top three challenges you are facing in 2016/17?
| Answer Options | Response Percent |
| The data edge – A quest for increased transparency | 39% |
| Re-evaluating your current broker relationships under Mifid II | 24% |
| Finding the best research provider | 26% |
| Finding alternative methods to source liquidity | 42% |
| Cross-training, training skills of current traders | 40% |
| Investing in new technology to streamline the trading desk | 59% |
| Streamlining across asset classes | 45% |
| Reduce trading desk operational cost | 25% |
What are the top three biggest priorities for your equities trading desk in 2016/17?
| Answer Options | Response Percent |
| We see consolidation now | 25% |
| Consolidation in the next 5 years | 40% |
| Will stay the same | 20% |
| Liquidity remains fragmented | 15% |
Are we likely to see venue consolidation or will liquidity remain fragmented?
On a scale of 1-5, how concerned are you about information leakage when a broker is called? [1 being the most concerned]
| Answer Options | Very Concerned | Concerned | Indifferent | Not Concerned | Not Concerned at all | Rating Average | Response Count |
| 23 | 44 | 24 | 9 | 0 | 0.00 | 100 | |
| answered question | 100 | ||||||
| skipped question | 0 | ||||||
When deciding which broker to work with, what is the most important criteria?
| Answer Options | Response Percent | Response Count |
| Cost-effectiveness | 26% | 26 |
| Risk management | 38% | 38 |
| Breadth of coverage | 20% | 20 |
| Quality of research | 5% | 5 |
| Quality of algo | 11% | 11 |
| answered question | 100 | |
| skipped question | 0 | |
How is finding liquidity best achieved?
| Answer Options | Response Percent | Response Count |
| Increased trading in dark pools | 24% | 24 |
| Buy-side to buy-side trading initiatives | 16% | 16 |
| Partnering with HFT | 5% | 5 |
| High-touch trading | 18% | 18 |
| SOR tools | 2% | 2 |
| Algos and customizes metrics | 35% | 35 |
| answered question | 100 | |
| skipped question | 0 | |
On the back of market structure developments, who do you believe has ended up with more control of liquidity in equites markets vs. pre 2008 financial crisis?
| Answer Options | Response Percent | Response Count |
| Asset managers and hedge funds | 34% | 34 |
| Primary dealers | 13% | 13 |
| Market makers | 26% | 26 |
| Agency style banks | 8% | 8 |
| Trading platforms | 10% | 10 |
| Exchanges | 9% | 9 |
| HFT Firms | 0% | 0 |
| answered question | 100 | |
| skipped question | 0 | |
Response to Mifid II – what are you doing?
| Answer Options | Response Percent | Response Count |
| Re-tooling broker vote in preparation for compliance to regulation | 21% | 21 |
| I will comply in the next 5 years – to wait and see approach | 26% | 26 |
| Evaluating independent research providers | 30% | 30 |
| Looking to resource research internally | 23% | 23 |
| Does not apply to me, not taking any action | 0% | 0 |
| answered question | 100 | |
| skipped question | 0 | |
How likely is it that global markets will become fully unbundled in the next 5 years?
| Answer Options | Response Percent | Response Count |
| Very likely | 43% | 43 |
| Somewhat likely | 50% | 49 |
| Unlikely | 7% | 7 |
| Very unlikely | 0% | 0 |
| answered question | 99 | |
| skipped question | 1 | |
| Answer Options | High spend | Low spend | Looking to customize | Response Count |
| Market data terminals and feeds | 32 | 39 | 29 | 100 |
| TCA/venue-analysis | 44 | 36 | 20 | 100 |
| OMS High spend | 30 | 52 | 18 | 100 |
| EMS High spend | 31 | 48 | 21 | 100 |
| Data analytics | 80 | 14 | 6 | 100 |
| Algo providers | 49 | 46 | 5 | 100 |
| Co-location, networking, hosting | 24 | 65 | 11 | 100 |
| answered question | 100 | |||
| skipped question | 0 | |||
How are you planning to spend your tech budget 2016/17?