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

Outside Partnerships Bolster Trade Execution Infrastructures

Subscribe to our newsletter

Partnership is the most important ingredient for optimising the performance of trading infrastructure and reducing its complexity, say operations executives who spoke at the Intelligent Trading Summit in London on 2nd February. Regulatory compliance issues are gaining on cost and value as the biggest consideration, however, according to the executives.

Partnership efforts address the need for collaboration between business, technology, support, infrastructure, quant and sales professionals, according to Richard Bell, UK head of exchange and market access IT at BNP Paribas. “Then you can get a really effective platform that’s not just about making it really fast,” he says. “The partnership model makes it a competitive platform.”

In-house efforts cannot adequately address trading infrastructure challenges, according to Robert Johnson, head of front office solutions, MUFG Securities EMEA. “There are things we can look at to make it less painful, such as open standards,” he says. “We got somewhere with FIX [the trade messaging protocol]. There are lots of other options we can design into our systems.”

Still, outsourcing decisions should be made selectively, according to Benjamin Stephens, head of business development at Instinet Europe. “We do very little outsourcing. We have some feed handlers for market data, but we have to normalize it ourselves anyway,” he says. “We run our own FPGA development teams because we couldn’t find vendors who would do it at a cost that made sense. … We run our own network because we couldn’t find vendors who could actually run a network going several places.

“You can only outsource if you’re outsourcing to someone who knows what they’re doing,” Stephens adds.

Regardless of the cost savings or value benefits that can be derived from partnership or collaboration on improving trading operations, which serve as drivers to implement such efforts, regulatory compliance demands are becoming more important as drivers, explains Johnson of MUFG Securities.

“It’s MiFID II this year, and FRTB this year and next,” he says. “The key for regulation is that it’s an appropriate size solution for the regulation being addressed.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Managing Non-Financial Misconduct Under SMCR

9 October 2025 11:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Non-financial misconduct—encompassing behaviours such as bullying, sexual harassment, and discrimination is a key focus of the Senior Managers and Certification Regime (SMCR). The Financial Conduct Authority (FCA) has underscored that such misconduct is not only unethical but also poses significant risks...

BLOG

Leading Platforms and Frameworks to Support Trading Application Development

Building trading systems has never been more complex or more critical to competitive differentiation, as firms across the buy side and sell side – as well as exchanges and trading venues – face immense pressure from infrastructure demands, market volatility, and regulatory scrutiny. In response, the ability to build and adapt trading applications quickly has...

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: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...