Awards for Excellence 2013: Best Flow house
A meaner, leaner flow monster is using technological innovation to redefine trading and sales.
Sluggish client trading volumes and the onslaught of new financial regulation threw up big challenges for the flow business in the past year. These will define its future direction.
Skittishness among investors in uncertain times might dissipate at some point, pushing volumes back up, but Basle III, Dodd-Frank and European Market Infrastructure Regulation will have a long-term impact.
All of the big flow houses – Barclays, Citi, JPMorgan – have reshaped their businesses and continue to command healthy market shares, but the bank that has done so best is Deutsche Bank.