Capital Markets Governance 101

4 min read

Front, middle, back? Are we in some sort of public transportation? Since Lehman’s failure more than 10 years have lapsed, during which all compartments of capital markets operations have been reshaped by regulators. But what compartments are we talking about anyway? For non-professionals, capital markets parlance may sound peculiar, and its structure even more. Why is there a distinction between different departments to begin with? Where is such operational complexity coming from, in an industry that has been trying to reduce cost for the better part of the 21st century? The short answer to those questions is that banks (investment…...

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Stéphane Reverre 25 years as a derivatives trader, with a specialty in electronic execution (statistical arbitrage, market making) and secured funding (stock lending and borrowing, repo trading etc). I have had the opportunity to trade on most major exchanges (New York, Tokyo, Singapore, Paris, Frankfurt, Hong-Kong, London etc). Lately my interest has turned to DLT and its promises for cheaper and better financial infrastructure. It is my strong belief that capital markets are an essential component or today’s economy, and as such need to be explained to the largest number, again and again. I have written several books and articles to make the subject as addressable as possible to non-professionals.