Firms are now aggressively hiring talent to compete more effectively in the investment research arena, with the top 30 brokers adding on a combined 1,400 years of experience to their ranks. What should brokers be doing to take advantage of the new research landscape – and who will succeed in the inevitable journey towards joint payments?

ESMA’s consultation on the criteria for establishing and assessing the effectiveness of investment firms’ order execution policies has exposed the diversity of opinion on the merits of a consolidated tape for OTC derivatives.

In a volatile equity market, asset managers may now pay the price for having concentrated research spend on analysts from a few bulge-bracket firms.

The European Commission keeps pressing, but a consolidated tape for bonds is not yet realistic – and firms should use AI analytics to create a quasi-tape.

Unbundling hits European research provision as providers grapple with transparency and valuation.

The transition from Libor is passing key tests as benchmark reform moves into its endgame. In October, the discounting rate for cleared interest rate derivatives was smoothly shifted to Sofr and Isda’s fall-back protocol was finally published. However, the Gordian knot of legacy loan contracts remains.

Volumes more than doubled in March; before the coronavirus crisis hit, Euromoney spoke to market participants about why portfolio trading will transform bond market liquidity.

Regulatory technology vendors are relishing the prospect of helping banks minimize FX client onboarding errors, but in a world where legacy systems remain commonplace, regtech is not always an easy sell.

An art installation shines a light on UBS.

Japanese banks must go overseas to build sustainable profits, each in their own way. Nomura is streamlining global operations and applying itself in China; Daiwa wants to be a global mid-market M&A house; MUFG has bought Asean banks; Mizuho prefers organic growth; and SMBC is somewhere in between. Who’s ahead?

Esma no longer feels it needs to impose EU-wide leverage limits on the FX contracts for difference (CFDs) market, but there is little evidence to suggest its efforts to protect retail traders have done anything other than push business offshore.

Deutsche Bank’s decision to exit equities but continue with ECM is a startling move, but it reflects the reality of the industry as much as it does the bank’s own uncomfortable position.

Deutsche Bank has taken the radical step of getting rid of its equities business, but thinks it can still offer ECM. Can it?

It has just received a very public vote of no-confidence from non-bank liquidity providers, but concerns around transparency are yet to outweigh the perceived benefits of last look.

A push into the regional mid-markets, as well as the international subsidiaries of those clients, is a useful driver of market share at a time of uncertainty.

It is less than two and a half years until Libor, the benchmark on which trillions of dollars-worth of financial instruments are based, will disappear. That is a hopelessly ambitious timetable in which to complete what has been called the largest financial engineering project in history. Even if chaos is averted, the way in which banks lend, and indeed how corporates borrow, may never be the same again.

Private banks across the world are changing fast, placing greater emphasis than ever on a host of key factors. The best wealth managers are busy boosting inclusivity, emphasising technology and security, and ensuring they are on-point when it comes to meeting compliance needs.

Other players are expected to follow Goldman Sachs and BNP Paribas in introducing algos designed to source both internal and external liquidity for FX NDFs, despite limited liquidity in many non-deliverable currencies.

European firms are looking in-house and building up more engaged buy-side analyst teams themselves, according to new research.

For 22 years, he has led banking in Austria and across CEE at the helm of Erste Bank. Even as he nears retirement, he is pushing to transform Erste into a ‘financial health company’. Euromoney’s Banker of the Year for 2019 talks about this vision and how digital transformation is at its heart.

JPMorgan today dominates the global corporate and investment banking landscape. The key to success? A long-term strategy led by group co-president and CIB chief Daniel Pinto, and a management team that keeps the business in a constant state of reinvention.

Well-capitalized, liquid and digitally sophisticated, banks in emerging Europe today are far from the clunking incumbents and fly-by-nights of the post-socialist era. A fragmented, diverse and politically volatile region is a challenge for smaller banks – is a new wave of consolidation on the way?

The absence of a regulatory imperative has not deterred FX traders from increasing their use of transaction cost analysis tools, in turn increasing the pressure on brokers at a time when margins are already thin.

Euromoney explores bond liquidity and investigates the winners and losers.

The biggest dozen global investment banks have now reported their results: here's what their execs said about each of your businesses

Automating debt and equity new issues comes a step closer with $20 million funding round for a new regulated platform.

The regulator's conclusions could be announced within the next two weeks.

After a good result in its core areas, Barclays is setting its sights firmly on a better future for its investment bank in Europe.

Like most of its big US peers, Citi had a strong run in 2018

As Mifid II and shrinking margins pile pressure on single-country firms in Europe, Kepler Cheuvreux is an equities mirror for how Amundi has grown a multi-local asset management platform. Can other businesses replicate their practical solutions to Europe’s fragmented financial services market?