United Kingdom

It is not hard to find short-term worries over global markets’ state of readiness for the US’s transition to one-day settlement in late May. But even if the UK, Europe and those Asian markets still using two-day settlement can adapt to the shift in the longer term, they will also face intense pressure to lessen their dislocation from the US cycle by copying its move. Many also fear the ultimate end-game of same-day or even instant settlement.

HKEx chief executive Nicolas Aguzin opened the group’s latest new office in London on Wednesday. His aim: to get more global firms to IPO in Hong Kong and convince investors to put money to work there. But against the backdrop of China’s economic situation, his team will have its work cut out.

The last 12 months have tested the ability of banks and brokers to offer guidance during times of extreme volatility. HSBC has proved its worth.

Carrie Chen learned long ago that she could prosper in her career without trying to beat male bankers at their own game.

This year’s winners of the Asiamoney Brokers Poll had to navigate myriad challenges, from trade tensions between the US and China to uncertainty around global growth. They managed to find exciting investment opportunities by quickly adapting to the changing market conditions – something they will need to do in 2020 as well.

When a bank performs well during a strong year for equity markets, it’s easy to say it is just going with the flow, but when a firm gives clients the best advice during turbulent times, it proves its worth.

The link appears to be finally taking shape, but with the dollar as its biggest trading and settlement currency, the scheme looks increasingly skewed towards investors in the US.