“E-commerce is still a key vector,” says Nicolas Galmiche, head of EMEA rates securities.
“We invest a great deal in order to stay ahead of our competitors and to improve client service. We have put a lot of effort into developing our proprietary platform, offering more real-time data services, and more analytics and trading tools.”
Integration is also a major theme, says Mr Galmiche. “We continue to focus on ensuring we have the most appropriate structure to support the markets and our clients. The integration of different lines of business ensures we can provide insight and deep liquidity beyond individual product silos. In the past 12 months, for example, we have focused on integrating our MTN and frequent borrower capabilities, identifying synergies of expertise between our global emerging markets and frequent borrower franchises, and have extended our European government capabilities in Asia to support electronic trading in local hours.”
Current market turmoil has put execution capabilities and liquidity provision in the spotlight; for those liquidity providers who remain, says Guy America, head of credit trading for EMEA, it can help to solidify client relationships. “Markets are less liquid and there are more market moving pieces of news to look out for and digest. This is the sort of environment in which you need to stay in touch with client needs.”
