The Trade 100 and the Future of Trading – #47, Philippe Buhannic

TradingScreen’s Chief Executive Officer and Co-Founder, Philippe Buhannic, was featured in The Trade’s 10th anniversary edition, which highlights the most influential people in buyside trading–past, present, and future.

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Buhannic, who was featured as number 47, discusses regulatory reform, big data, and the future of buyside technology in The Trade 100 and the Future of Trading.

Regulators may be steadily gaining more granular information about individual transactions, but it may be equally reassuring for end-investors to hear that asset managers have better intelligence on how their orders are executed too. The more information buy-side firms receive on how their orders have been treated, the more they can themselves track how their intermediaries have behaved.

Certain brokers are more willing to share this information with the buy-side than others. 

Philippe Buhannic, CEO of TradingScreen a provider of trading technology and transaction cost analysis, falls into the third camp of critics. He too believes that, overall, investors have benefited from innovation in the trading environment. The old specialist system on the New York Stock Exchange simply institutionalised the ability for a limited number of organisations to be on the right side of the trade. “The idea was to ensure an orderly market in times of stress, but effectively they didn’t do that,” says Buhannic.

“The system before was much worse than what we have now.” However, he points out, that doesn’t mean the system is as good as it could be. “There are one or two things highlighted in the book that are clearly true; for example, if you have more money, you are able to access better information,” he says, though pointing out that this is not very different from other markets. “If you are Procter & Gamble, you’ll have better information on advertising opportunities than if you are a small company in the mid-west,” says Buhannic.

 

Read the digital version of the magazine here. 

 

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