Which market structure changes are impacting liquidity and costs of execution

The costs of liquidity are impacted by capital costs – both short and long term – along with market microstructural changes. Increasingly, trading protocols and automation are enabling trading desks to manage these costs, but crucially relationships between counterparties are still key.

Kate Finlayson, Global Head of FICC Market Structure and Liquidity Strategy at JP Morgan, talks through the key regulatory, technology and innovative changes that are changing the way firms are executing in the market, and which routes or instruments they are choosing to use.