Category: MM-CommentOn 30 Apr 2008 in MM-Comment, MiFIDMonitor.com 
In the Pink Panther movies, not only is the eponymous jewel flawed, but Inspector Clousseau has his housekeeper attack him unexpectedly when he arrives home. Are the parallels between this iconic ‘60s’ movie and firms data security something we can learn from, asks PJ Di Giammarino, CEO, JWG-IT Group Limited
On 28 Mar 2008 in MM-Comment, MiFIDMonitor.com
Even before coming into force on November 1 2007, MiFID had become a catalyst for change in the financial markets. The anticipated abolition of concentration rules introduced the concept of competition between trading venues in many European markets. Furthermore, the advent of the MiFID best execution requirements calls for financial institutions to define an execution policy that explores a variety of trading venues in search of liquidity and best prices. As a result, over the past two years the directive has become a strong determining factor for all trading technology purchasing decisions.
On 28 Mar 2008 in MM-Comment, MiFIDMonitor.com
“The Force is what gives a Jedi his power. It’s an energy field created by all living things. It surrounds us, penetrates us, and binds the galaxy together,” said Obi-Wan Kenobi. OK, not many traders are running around dressed as Jedi today, but what binds their universe together is, in fact, data. Without the constant flow of market, reference and unstructured data, the financial services industry would cease to exist.
On 29 Feb 2008 in MM-Comment, MiFIDMonitor.com
It’s one thing to have a policy. It’s another to have a piece of paper signed by the client, and yet another to be working in the spirit and interest of what that paper says. Investment firms, often the topic for scriptwriters, might now feel less like Wall Street and more like Dirty Harry.
On 30 Nov 2007 in MM-Comment, MiFIDMonitor.com
Why are we still writing about MiFID?
Many found it hard to believe that it would happen. Many more would like to think that it has passed. Quite simply, MiFID will be driving changes to all business activities in investment firms, market infrastructure players and the regulators for some time to come. The reality is that it has only just started and the remains of Phase I will be dealt with via that well known management technique of “the fire drill”.
On 01 Sep 2007 in MM-Comment, MiFIDMonitor.com
A lack of “European thinking” among many UK financial institutions and investment practitioners has been cited as a reason for the lack of readiness for MiFID. Bob Fuller, soon to be ex-chief executive officer of Equiduct, told a packed gathering in London this month: “People aren’t ready. And the biggest reason why people [still] aren’t ready is that they do not think European.”
On 01 Jul 2007 in MM-Comment, MiFIDMonitor.com
(To be hummed to the tune of, erm, I Predict a Riot by Kaiser Chiefs)
By P.J. Di Giammarino
CEO, JWG-IT Group Ltd.
(With apologies to Hodgson, Wilson, White, Rix & Baines Ltd.)
Capital markets revolve around the trading floor. We all know the stories: big egos, testosterone-charged environments and real consequences for those who do not perform. So it is not surprising that plasma screens that display the wrong VWAP end up full of holes after the traders start throwing things.
On 01 Apr 2006 in MM-Comment, MiFIDMonitor.com
I felt moved to write you in response to your leader (MiFID Monitor, March 2006).
I think the point that you are making, understandable quietly, is that MiFID is in danger of not living up to its existence-threatening hype. I think you are right – and it is brave of you to say so, albeit carefully. Pity – it would be commercially advantageous to all of us to have to rebuild our industry model from scratch by November 2007 – but the truth is that we won’t.
On 01 Feb 2006 in MM-Comment, MiFIDMonitor.com
Judging from the steady stream of MiFID-related industry events – from breakfast seminars, to conference presentation channels through to the ghastly ‘webinar’ format – as apprehension of an undefined deadline many months distant descends into a broad feeling of mild panic, the overwhelming message from the industry as it finally begins to face the uncomfortable reality of MiFID preparation seems to be: “What can we do right now?”
