News / Financial Markets

We were delighted to welcome over 100 financial markets participants at the Design Exchange, Toronto for our second annual Tour de Market Symposium.

Anyone who attended this year and last will know this is not your average panel debate. This was an in-depth discussion involving all sides of the Canadian financial market and a chance for its participants to raise the real issues on everyone’s minds.

As the financial services technology provider that connects all corners of the financial marketplace, we are in a unique position to host this event and, with the market going through such unprecedented change, felt we owed it to the street to have this debate.

And we had some big questions to put to our panel:

  • How is best execution evolving, whose obligation is it, and how are they coping?
  • How is the nature of the relationship between buyside and sellside evolving?
  • How are the cost-challenges to market data being managed?
  • What is the value of speed bumps, and what’s the impact on retail trading?
  • Can ‘one size fits all’ regulation work?
  • Pricing models related to providing/taking liquidity – whom do they serve?
  • What is the economic feasibility of protected orders/trade through analytics and best practices?

On our guest panel representing buyside was Philip Mesman of Picton Mahoney and John Christofilos of AGF, while in the sellside corner we had RBC’s Stephen Bain and Evan Young of Scotia. From the Exchanges we had Dan Kessous of NASDAQ (who also kindly sponsored the event) along with Kevin Sampson from TMX. Finally, representing the regulators were Timothy Baikie of the OSC and IIROC’s Kevin McCoy.

We knew we were in for a lively discussion and it didn’t disappoint. Speed bumps and liquidity were the topics that divided opinions across our panel and needless to say, the conversation got quite heated. There was also considerable discussion around the impact of MiFID II. What the panel did agree on, is that trust is still a major issue for the markets.

Some of what went on at the Tour de Market stays on tour, but we will be sharing some further analysis and commentary from it.

We’d like to thank everyone that attended, our guest panellists, and our sponsors Nasdaq. We can’t wait for the next one

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