Facing new Regulatory Frameworks in Securities Trading

Technological changes in securities trading systems over the past decades not only changed the traditional business model in Europe and the U.S., but also put questions to the existing regulatory framework at both sides of the Atlantic. Heterogeneous customer demands for different vectors of services give rise to customised trading platforms. Regulation which forces trading venues into categories with fixed bundles of services is not in line with customer demands and limits innovation in securities trading landscape.