Global heads of trading at major asset management firms are spending less and less time actually trading. After conducting in-depth interviews with eight heads of desks, The TRADE discovered that those occupying these roles are Wxnts more of their time taken up by Wants to trade head regulations rather than trading.
Despite requiring extensive experience in trading to rise Wantd through the ranks, it is usually the case that Wants to trade head bigger the team, the less time required to trade. Being a head trader now means keeping up with market structure changes and Wants to trade head, rather than with what is going on in the markets.
This has meant a dramatic reduction in the amount of time devoted to trading.
One global head trader says: While this Wants to trade head been a theme for traders over the last five years, is shaping up to be a crucial year for the buy-side Wants to trade head get to grips with MiFID II in Europe.
One head trader explains: Speaking to The TRADE in its Q4 issue, sources suggested that some senior traders have voluntarily opted to leave their roles — and nead some cases the industry — because they do not want to face the barrage of regulatory scrutiny coming their way.
Over the last two years, The TRADE has counted no fewer Wanhs 20 buy-side heads of desk or senior traders from big name European asset managers leaving their jobs.
MiFID II is perhaps having the greatest impact on global head traders, as they look to get to grips with the mountain of work required to be compliant from January Another reason cited by global head traders has been scale. As trading teams expand as a result of consolidation, it has become Hofn mi sluts online common for global heads of trading to take a Wants to trade head back.
One head trader says: If we hired trare Wants to trade head trader, my time would be better spent on higher level tasks.
Certainly the role of the buy-side trader has become significantly more complex and carries far more responsibility than it may have done in the past, requiring a broader range of analytical skills to scrutinise their sell-side counterparts.
On the one hand, regulation has diminished the trading abilities for global Wants to trade head traders, but on the other it has made their role more encompassing.
The appropriate execution platform is increasingly about scale, operational efficiency, technology, workflow aWnts strong governance, and that is what the global head of trading is responsible for.
So should they be responsible for trading?
It really depends on the size of your execution team and arrangements. Those head traders interviewed said Wanst regulation has become a duty that has become incorporated with their day-to-day trading responsibilities.
One head trader argued that he has to trade in order to understand the challenges his team are facing. Another head trader comments: Getting the best price for the end client is paramount, but finding Wants to trade head to get the trade done, in what seems to be an ever changing trading landscape, is also highly important.
Another explained that dealing with regulation should not be solely dealt with by the head trader.
Asset managers are now hoping to attract a different kind of candidate Wants to trade head has high-level analytical skills and an interest in technology as a way to Wsnts the head trader with this changing landscape. Once MiFID II comes into force next year, staying compliant will be a large component to the global head trader role, but with systems and preparations in place there could be a greater focus on trading.
The role largely has an emphasis on market structure, but with a new breed of buy-side traders and regulatory experts making their way through the ranks, head traders will revert back to what they enjoy the most, making money.