About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

As New Regulation Arrives, Europe Can Expect More Trading Venues

Subscribe to our newsletter

 

Experts on the European execution venue landscape are split on whether the future of that landscape is consolidation or fragmentation, as they expressed in a panel discussion on the topic at the Intelligent Trading Summit in London on 2nd February.

Multi-lateral trading facility (MTF) activity has increased, according to Will Winzor-Saile, an execution architecture executive at Redburn. While consolidation is a perpetual phenomenon among exchanges, new regulations (such as MiFID II) drive creation of new trading venues, Winzor-Saile said.

“ECNs will become SIs [systematic internalisers]. MTSs will go to block-only liquidity,” said Winzor-Saile. “That’s going to change so there are a lot more venues to connect to, but there are only so many venues any company can connect to. We can get to a large number of venues, but there’s still limits to the number we can access. As we get that fragmentation, it’s inevitable that you need consolidation to counteract that.”

Another part of European execution venue landscape considerations, aside from possible mergers of major exchanges, or fragmentation of venues, is the placement and number of co-location data centers near exchanges and trading venues, as Winzor-Saile also remarked upon. “Co-location is becoming standard,’ he said, “but with how markets have moved, everyone is consolidating around one or two data centers. Demand is now consolidating. It’s now about ensuring the accuracy of those systems. We’re not reacting to every single market tick. We must understand where the market is going, what venues we can access and how.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating the Build vs Buy Dilemma: Cloud Strategies for Accelerating Quantitative Research

For many quantitative trading firms and asset managers, building a self-provisioned historical market data environment remains one of the most time-consuming and resource-intensive steps in establishing a new research capability. Sourcing data, normalising symbologies, handling corporate actions and maintaining infrastructure can take months and absorb significant budget before a single model is tested. At the...

BLOG

When 1% Breaks the Fund: The Sanctions Contagion Facing ETF Issuers

Roy Kirby, Head of Core Products at SIX Group, has spent the past four years watching sanctions transform from episodic geopolitical tools into a structural feature of market risk. In sharing insights with RegTech Insight, he sets out how the acceleration and layering of sanctions since 2022 are reshaping compliance obligations for ETF issuers and,...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets Handbook 2026

AI adoption in capital markets has moved into a more disciplined phase. The priority is now controlled deployment: where AI can be used safely, where it can deliver measurable value, and how outputs can be governed, monitored and evidenced. The 2026 edition of the AI in Capital Markets Handbook examines how AI is being applied...