Open Platform: A New Post-Trade Era

The implementation of Mifid across the pan-European marketplace promoted competition among trading venues, the natural beneficiaries of which were buy-side and sell-side firms, and ultimately, their end-investors. This increased competition has now percolated down to the clearing market, an area of the financial services industry still evolving as potential providers seek regulatory approval and establish alliances in a bid to capture market share. But this new dispensation of increased