Sean Hester’s Post

What drives the recent surge in AT1 issuance among European banks? In 2024, €11.6bn gross issuance hints at underlying trends. While recent calls reflect strategic shifts, the muted net supply echoes broader regulatory capital optimization. This nuanced landscape suggests a supportive environment for AT1 valuations, potentially leading to a scarcity premium. My colleauges from TwentyFour Asset Management LLP delve deeper into the implications for professional investors navigating these dynamic markets⬇️ #AT1Issuance #EuropeanBanks #Investing #MarketTrends https://bit.ly/3yilqlZ

Excellent summary by Bryan Pascoe, ICMA, on the cost/benefits to transition from T+2 to T+1 settelment cycle. Especially on questioning the risks and effects it may have in EU. I fully agree.

Financial institutions today encounter significant challenges in efficiently allocating internal costs within the intricate landscape of capital markets. The diversity of products, complexity of transactions, and ever-changing market conditions further exacerbate this difficulty. From Brokerage, Clearing, and Exchange (BC&E) fees to charges for Agent Banks and Custody Services, understanding and managing these costs is vital for maximising income and achieving transparency. Download this whitepaper to explore insights and strategies, from a recent executive roundtable in New York - for enhancing cost transparency in capital markets. https://lnkd.in/g5aEDtjT #tradingfees #brokeragefees #bce #costofincome #capitalmarkets #TLMfeesandexpense

Join Jacob Rank-Broadley (FTSE Russell, An LSEG Business) in a conversation with the experts: Michele Mazzoni (European Securities and Markets Authority (ESMA)) and Kam Hessling at the (Loan Market Association (LMA)) discussing regulatory expectations for risk free rates in the European loan market. Join the conversation >> https://bit.ly/4aQiFG1 #Interestrates #LoanMarkets

N|B POST - Dynamic Rates. Beyond liquidity, towards bonds In the short term, liquidity appears to offer higher yields compared to bonds, but what will the implications be for investors in a context of rate cuts? Find out the view of our experts and stay informed with #NBPOST - Financial markets that make headlines. > https://lnkd.in/d4S_UCei #fixedincome #marketview #centralbanks #cash #ECB #Fed Neuberger Berman, Ugo Lancioni. Antonio Serpico

Financial institutions today encounter significant challenges in efficiently allocating internal costs within the intricate landscape of capital markets. The diversity of products, complexity of transactions, and ever-changing market conditions further exacerbate this difficulty. From Brokerage, Clearing, and Exchange (BC&E) fees to charges for Agent Banks and Custody Services, understanding and managing these costs is vital for maximising income and achieving transparency. Download this whitepaper to explore insights and strategies, from a recent executive roundtable in New York - for enhancing cost transparency in capital markets. https://lnkd.in/g5aEDtjT #tradingfees #costofincome #feesandexpense #costtransparency #brokeragefees #bce

Last week Bloomberg reported on the booming Private Credit market and Colesco's launch. Read more here to understand our strategic positioning in the market: https://lnkd.in/euW4D_th #CapitalAndPurpose #PrivateDebt #PrivateCredit #SustainableInvesting #AlternativeFinance #EuropeanMidMarket #FinancialServices #MidMarketCompanies #SustainableFuture

Great article on sell-side streaming two way prices in Fixed Income space, Key Takeaways * Getting a two-way price is unusual in fixed income trading, but normal in FX; that is changing and yielding some real results for best execution. * The top ranked dealer on one side (e.g. offer-side) are very low ranked on the other side (e.g. bid-side). So essentially, the dealer reveals, by means of the protocol, their true trading interest * For a sell-side trader responding to an RFM is certainly more complex, you need to take the likelihood of trading each side into account and what that means for your position and balance sheet restrictions. Therefore, integrating RFM in dealers’ internal systems is important but no precondition for using RFM. #innovation #electronictrading #fixedincome

The European financial institutions bond market is experiencing renewed investor enthusiasm despite a recent dip in demand, as evidenced by the overwhelming response to recent issuances. A syndicate banker described the market's current state as "euphoric," highlighting #investors' eagerness to buy #bonds amid favourable conditions. Although euro issuance is trailing behind last year's volumes, investors remain hungry for opportunities in the market, contributing to its strength. Sign up to read the rest of the story and comments from bankers across the market: https://lnkd.in/eTEhJwt9 Written by Atanas Dinov, bank finance editor, and Sarah Ainsworth, deputy FIG editor at GlobalCapital #capitalmarkets #FIG #financialinstitutions #financialinstitutiongroup

Financial institutions today encounter significant challenges in efficiently allocating internal costs within the intricate landscape of capital markets. The diversity of products, complexity of transactions, and ever-changing market conditions further exacerbate this difficulty. To tackle these challenges, we hosted an Executive Roundtable in New York, bringing together Global Markets Leaders to discuss best practices for optimising cost efficiency across various fee categories. From Brokerage, Clearing, and Exchange (BC&E) fees to charges for Agent Banks and Custody Services, understanding and managing these costs is vital for maximising income and achieving transparency. Download our whitepaper to explore these insights and strategies for enhancing cost transparency in capital markets. https://lnkd.in/g5aEDtjT #tradingfees #brokeragefees #bce #costofincome #capitalmarkets