Matthieu Chomez

Debate short-term efficiency versus long-term relationship and coverage risks from increasing reliance on non-bank market makers and bilateral execution.

Pre-trade TCA promises sharper execution decisions, but building a reliable view of liquidity and cost is far from straightforward- especially as more flow moves off-exchange. This shift is prompting trading teams to revisit best execution protocols and adapt analytics frameworks to reflect changing liquidity and trading dynamics. Panellists will explore how firms are sourcing and normalising data, refining metrics for evolving market conditions, and embedding insights into real-time decision-making. Where do current TCA and best execution models fall short, and what’s needed to ensure they remain fit-for-purpose amid the shift towards more bilateral execution models?