CurveGlobal Markets is a futures exchange, and it is notoriously difficult for exchanges to gain traction and market share at the best of times. So why am I so optimistic? Well, on our record day at the end of last year, we were nearly 40% of the market in 3M sterling!* And let’s be honest, it’s not easy persuading people who are working from home to look at another screen or indeed to try new things, especially with the COVID lockdown.
So, why have CurveGlobal Markets volumes grown month over month? Well, it appears that if you provide good or better pricing on the exchange electronic order book, offer free fees and clearing, and allow people to trade blocks off the exchange at fractional prices, they really like it.
But above all else, what has been so exciting for me is that as we review the sales pipeline and recent wins, it’s the ease of getting those clients trading. A process that a couple of years ago felt Herculean in effort now feels like falling off a log. Getting a client live often involved a new trading system or new clearing broker, execution broker, docs or pipes. It’s just not like that anymore; the infrastructure is “turnkey” for the asset managers, hedge funds, and prop firms alike. From seeing “a price” a trader likes or from being offered a price by the broker, to being execution “ready” is taking less than a week – including risk sign-offs.
I’ve previously discussed the macro reasons to be optimistic, from speedy RNA COVID-19 vaccine development, PCR testing ability changing the way we manage medical diagnosis, to computer processing power of new chips and protein unrolling.
These are just a few of the reasons to be optimistic, so join me, join us and trade at CurveGlobal Markets.
*Data source: Bloomberg, notional basis