Turmoil in the financial markets has shifted the focus of banks from growth and innovation to risk management. But with non-banks diversifying across the banking business, now more than ever it is essential that banks look for new ways to differentiate themselves from the competition and prove the value of the traditional banking outlet
On the surface, it may seem that the EU's 2007 MiFID legislation, which aimed to create a pan-European investment market on a level playing field, has changed little. However, a closer analysis reveals an industry in the process of change, as new upstarts make inroads and traditional exchanges respond with new technology. Writer Chris Skinner