Margins concentrate in the machinery
As execution becomes more electronic and spreads stay thin, performance depends on workflow, platform cost, data quality and post-trade efficiency as much as the trade itself.
Capital Markets
Expertise across the markets business, from trading decision to settlement.
Our experience and impact
Selected delivery experience.
20+ years
On Tier 1 trading desks
London, New York, Sydney and Melbourne.
80+ venues · $50bn+
MiFID II programme
Six asset classes kept compliant through the deadline; cleared volume in scope.
Overview
A connected view of the markets business.
Our work spans front office, electronic trading, quantitative capability, platforms, market data, risk, controls, clearing and post-trade.
We help clients assess investment and operating-model choices across those connected areas, bringing specialist expertise to the business and technology changes required.
What is changing
Three forces on the markets business.
Settlement cycles are shortening
T+1 reduces the time available for affirmation, funding, matching and settlement. Breaks that were manageable under longer cycles become more expensive.
Controls are examined in detail
Best execution, surveillance and trading controls are reviewed at the level of calibration, evidence and operating discipline.
How we can help
Improve trading and the infrastructure behind it.
Expertise across execution, platforms, post-trade, infrastructure, controls and desk performance.
Client results
Relevant experience.
Selected experience relevant to Capital Markets: the context, our work and the outcomes.
Capital Markets · Regulatory Transformation
MiFID II trading controls and infrastructure across six asset classes
Leading Investment Bank · Equities, Derivatives, Commodities, FX, Credit & Rates
We helped deliver trading controls and market infrastructure change across algorithmic trading, direct electronic access, market making, clearing, surveillance and best execution.
- 80+
- Venues with market-making agreements retained
- $50bn+
- Cleared derivatives volume supported
- 4
- MiFID II RTS obligations implemented (RTS 6, 8, 27 & 28)
- 6
- Asset classes brought under MiFID II trading controls
Read the case study
Capital Markets · Trading Technology
eFX and equities algorithmic-trading platform engineering for a US investment bank
A US Investment Bank · eFX & Equities Algorithmic Trading
The bank partnered with us to enhance its eFX platform, built on the third-party Integral solution, and its internal equities algorithmic trading platform: engineering back-to-back trades into the US book to manage risk, enhancing the Calypso-integrated middle office and updating order management systems including OPICS and Fenics.
- Integral
- Vendor eFX platform enhanced
- B2B
- Automated risk transfer to the US book
- Calypso
- Middle-office integration enhanced
- OPICS + Fenics
- Order management systems updated
Read the case study
Capital Markets · Surveillance
Trade surveillance rebuilt across ETD and OTC flow for a global investment bank
A Leading Global Investment Bank · Trade Surveillance
We helped take market-abuse surveillance from risk assessment and vendor selection through to live platforms across exchange-traded and OTC flow, aligned to market-abuse and market-integrity obligations, with tuning to reduce false positives.
- ~65%
- Fewer false-positive alerts after model tuning
- 2
- Regimes aligned: MAR and ASIC market integrity rules
- ETD + OTC
- Flow brought under surveillance, on every venue and channel
Read the case study
Our Capital Markets insights
Perspectives on the decisions ahead.
Get in touch
Speak with a Partner about Capital Markets.
Talk to us about the decision, opportunity or change your organisation is working through.