Swing Löw, Sweet Chariot

Mario Götze's last-minute clincher at the Maracaña last night provided not only a thrilling conclusion to an epic World Cup of upsets and disappointments, but mainly put the British in the uncomfortable position of cheering their European neighbors, then hoping nobody noticed. And then doing it again.
As much as it's played up in the popular press, though, there isn't really that much animosity or rivalry between the British and the Germans any more, and there hasn't been for a long time. London may sniff and use the phrases "efficiency" or "superiority" as wilting pejoratives when it comes to describing our continental cousins, but overall, the two countries have gotten along for longer than ever before in their history. On an interpersonal level, the English, Scottish, Welsh and Northern Irish can generally sit round a table with the Germans quite happily, and as everyone knows, the ability to share a beer is a good barometer of geopolitical tensions, right?
It's part of a wider move towards European integration, which although troubled on the political side, is proceeding apace on the economic stage. Projects such as Target2-Securities offer a centralized way of settling securities in European central bank money, moves to T+2 settlement harmonize the landscape, and there was even talk about a single European capital market the other day. How that would work in practice I'm not sure, given individual interests from the various nations that comprise Europe, but the fact that it's even being considered and discussed is telling. People have often said that business is blind to the concerns of nations, and for firms that have to service clients in multiple European areas, those concerns are often an annoyance. Harmonization is the goal.
The wildcard with this, as always, is London. It's always had one foot in Europe and one foot out, a stance that proves infuriating to federalists and appealing to nations like the US, particularly firms that can leverage their obligatory presence in the City to then passport services throughout the Union. Whether it moves further away from the EU, and Eurozone economic activity shifts to Paris or Frankfurt, or whether it stays in and London continues to exert its gravitational pull will have a strong effect on the future direction of regulation and technology.
But for now, congratulations to Joachim Löw's team, who thoroughly deserved to lift one of the most prized pieces of gold the world has ever seen, to one of the rarest noises ever heard in modern history ─ that of English throats shouting German praise.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Waters Wavelength Ep. 311: Blue Ocean’s Brian Hyndman
Brian Hyndman, CEO and president at Blue Ocean Technologies, joins to discuss overnight trading.
WatersTechnology latest edition
Check out our latest edition, plus more than 12 years of our best content.
A new data analytics studio born from a large asset manager hits the market
Amundi Asset Management’s tech arm is commercializing a tool that has 500 users at the buy-side firm.
How exactly does a private-share trading platform work?
As companies stay private for longer, new trading platforms are looking to cash in by helping investors cash out.
Accelerated clearing and settlement, private markets, the future of LSEG’s AIM market, and more
The Waters Cooler: Fitch touts AWS AI for developer productivity, Nasdaq expands tech deal with South American exchanges, National Australia Bank enlists TransFicc, and more in this week’s news roundup.
Inside the company that helped build China’s equity options market
Fintech firm Bachelier Technology on the challenges of creating a trading platform for China’s unique OTC derivatives market.
Experts say HKEX’s plan for T+1 in 2025 is ‘sensible’
The exchange will continue providing core post-trade processing through CCASS but will engage with market participants on the service’s future as HKEX rolls out new OCP features.
‘The opaque juggernaut’: Private credit’s data deficiencies become clear
Investor demand to take advantage of the growing private credit markets is rising, despite limited data, trading mechanisms, and a lack of liquidity.