Fixed income trading is entering a structural reset. Consolidated tapes are going live, automation budgets are shifting from experimentation to implementation, and liquidity remains fragmented despite improved transparency. The opportunity is no longer about reacting to change, but leading.

This opening keynote will explore how leading institutions are building resilient, future-ready trading organisations. How should firms combine automation and human judgement to improve execution outcomes? Where does proprietary execution logic become a source of edge? And what structure, governance and skillset will define the high-performing trading desk of the future?

Liquidity in fixed income markets is becoming more distributed. Dealer balance sheet remains selective, non-bank liquidity providers are expanding, and ETF and systematic flows are increasingly influencing pricing dynamics across credit and rates.  At the same time, heightened geopolitical tensions are contributing to sharper macro-driven moves in government bond markets and more episodic liquidity conditions. As participation evolves, execution outcomes depend on understanding who is providing liquidity, under what constraints, and how risk is being transferred across the market.  

This session will examine how shifting participation is altering price formation and what practical adjustments trading desks can make to counterparty strategy, execution design and liquidity planning to remain resilient across changing and more volatile market conditions. 

As fixed income e-trading evolves, firms are looking beyond headline pricing to understand the full picture of trading performance. While transparency has improved, many desks still lack true clarity into the real drivers of execution quality, from liquidity access and hit ratios to workflow efficiency, information leakage, and opportunity cost. Fragmented market structure and inconsistent data continue to make meaningful comparison and optimisation a challenge.

This session explores how trading desks can move beyond surface-level transparency to achieve deeper cost clarity and better trading outcomes. Learn how leading firms are refining execution strategies, evaluating liquidity more effectively, and leveraging analytics to make smarter, more informed trading decisions, while adapting to evolving regulation and market complexity. 

Fiscal expansion, diverging growth paths and evolving central bank priorities are reshaping global markets. Government supply, inflation dynamics and intensified geopolitical tensions in the Middle East are influencing rate volatility, credit spreads and liquidity conditions across regions.

In this session, Chief Economists will outline the key macro forces shaping 2026–2027 and explain how policy shifts may transmit through fixed income markets. The discussion will provide a practical macro framework to help trading and investment teams navigate volatility and changing market conditions.

As fixed income markets evolve, buy-side firms face growing demands on capital, liquidity and resilience. In this session, Robbert Booij will explore the forces reshaping market structure, Eurex's perspective on the future of fixed income markets, and how more efficient clearing, collateral and liquidity solutions can help firms enhance portfolio performance. 

Liquidity fragmentation, automation and increased transparency are reshaping the role of the trading desk. Traders are increasingly expected to understand analytics, protocols and risk management alongside traditional execution skills. 

This session will examine how firms are redefining desk structure and aligning trading more closely to improve performance and resilience.