Quick Takes: Could “enshittification” happen in derivatives markets?

In this episode, Chris Barnes references the FT article that introduced us to “enshittification,” which has no doubt made the rounds of trading floors ever since. Chris will also discuss the following points:

Is “enshittification” of social media akin to worsening liquidity conditions in financial markets as a result of increased rent-seeking behaviour of centralised platforms?
We see ever increasing volumes traded in Rates markets, and yet constant concerns from market participants over liquidity conditions.
Post-trade transparency shines a light on market functioning, but does not define liquidity metrics or the cost of liquidity provision.
Does this all make Citadel the Taylor Swift of modern markets?

#ION #IONMarkets #ClarusFT #FinancialMarkets #Liquidity #Citadel #Trading #MarketEfficiency #Enshittification

Amir Khwaja, CEO, Clarus Financial Technology

Amir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.

Chris Barnes, Senior Vice President, Clarus Financial Technology

Chris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.

Chris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.