Liquidity quantification, clearing and the death of last look
XTX Markets' co-chief executive says 2017 will see a solution for options clearing, eventually forcing forwards and swaps too
The quantification of liquidity, clearing and the commercially driven death of last look will be key themes in 2017, as market participants adapt their business models to regulatory changes that bring more transparency to relationships as costs rise, according to Zar Amrolia, co-chief executive of non-bank liquidity provider XTX Markets.
Traditionally, liquidity quality was evaluated on the basis of spreads before moving towards a more complex set of metrics as the market became electronic and
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