The current state of liquidity in European markets

The current state of liquidity in European markets

Financial Markets Insights

By FMinsights Exclusive Badge


In our latest ‘In conversation with’ episode, host Carina Evison welcomes James Baugh, Head of European Market Structure at TD Cowen, to discuss the current challenges around liquidity in European markets, the practical effects of recent industry changes, and the impact of a European consolidated tape.

Key takeaways

  • Emphasising the importance of understanding how changes impact clients’ businesses rather than just relaying information showcases a client-centric approach.
  • Market structure lies at the core of business strategies, especially in electronic and low touch segments, proving critical for success.
  • The role of consolidated tape in Europe is crucial for enhancing transparency and addressing challenges in business reporting.
  • European market practices, like the reference price model for dark trading, have unintended consequences but also create opportunities for strategic advantage.
  • Collaboration, open client relationships, and quick adaptation to market changes are key factors in staying ahead in the evolving financial landscape.