With consolidated tape regimes going live and liquidity signals becoming more visible, the expectation is that execution should become smarter and more precise. Yet many desks continue to struggle with fragmented data feeds, duplicated reporting, unreliable axes and inconsistent liquidity indicators.

In this session, buy-side heads of trading share unfiltered practical solutions on where they are placing their biggest strategic bets: What standards are needed to improve liquidity assessment? How should data be aggregated and prioritised to strengthen Best Execution? And how can the industry move from information overload to actionable execution intelligence?

As liquidity becomes more fragmented and execution decisions more complex, alignment between portfolio managers, traders and technology teams is increasingly critical. Differences in liquidity expectations, delayed information sharing and disconnected systems can slow decisions and weaken execution discipline.

This session will explore how PMs, traders and tech teams are strengthening cross-desk collaboration by clarifying mandates before trades, improving real-time communication and aligning systems with execution workflow. The session will provide insights on how by tightening coordination across investment, trading and technology functions, desks can accelerate decision-making and deliver more consistent execution outcomes.

Electronic trading has expanded significantly, but protocol choice now plays a decisive role in execution quality. RFQ, streaming, portfolio trading, voice negotiation and hybrid approaches each serve different purposes depending on liquidity profile, trade size and market conditions. At the same time, automation is reshaping how low-touch and high-touch flow are separated and managed.

This panel will explore how firms are formalising protocol rules, embedding pre-trade analytics, and improving collaboration between trading and portfolio teams. With both buy side and sell side perspectives, it will highlight how sell side partners support these efforts through data, analytics, and consultative services. Standardised workflows and selective automation can drive consistency while preserving trader judgement.

The MiFIR Review is introducing consolidated tapes for bonds and altering post-trade transparency requirements across the EU, while the UK's Wholesale Markets Review is implementing parallel transparency reforms. At the same time, CSDR settlement discipline, the planned EU move to T+1, and the US SEC's Treasury clearing mandate are increasing operational and liquidity complexity for cross-border investors.  

This session will examine how firms are adapting Best Execution frameworks under MiFID II, aligning governance and reporting processes, and upgrading trading infrastructure to remain compliant while protecting execution quality and market access.