SIs on the rise across asset classes, says Christian Voight
01 March 2018 London
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Designed with equities in mind, systematic internaliser (SIs) appear to be conquering other asset classes with more of them active in bonds and derivatives, according to Christian Voigt, senior regulatory adviser at Fidessa.
In a recently posted blog, Voight explained that the change also shows that 鈥淪Is are spreading across more asset classes than just equities鈥攖here are more of them active in bonds and derivatives鈥�.
He stated that there are 鈥渁bout 109 SIs in varying states of registration in Europe鈥�.
Voight added that given that there were less than 20 of them before the implementation of the second Markets In Financial Instruments Directive in January, the increase was 鈥渃onsiderable鈥�.
Voight鈥檚 blog indicated that the UK currently has 44 SIs, followed by Germany which has 14, and France which has nine.
Voight said: 鈥淎cross countries there are no real surprises with the usual suspects at the top. But, more interesting, is the distribution across asset classes.鈥�
Of the 109 SIs across Europe, 59 are bonds, 53 are derivatives, 47 are shares, 32 are securities derivatives, 31 are exchange-traded funds and 29 are structured financial products SIs across asset classes.
In a recently posted blog, Voight explained that the change also shows that 鈥淪Is are spreading across more asset classes than just equities鈥攖here are more of them active in bonds and derivatives鈥�.
He stated that there are 鈥渁bout 109 SIs in varying states of registration in Europe鈥�.
Voight added that given that there were less than 20 of them before the implementation of the second Markets In Financial Instruments Directive in January, the increase was 鈥渃onsiderable鈥�.
Voight鈥檚 blog indicated that the UK currently has 44 SIs, followed by Germany which has 14, and France which has nine.
Voight said: 鈥淎cross countries there are no real surprises with the usual suspects at the top. But, more interesting, is the distribution across asset classes.鈥�
Of the 109 SIs across Europe, 59 are bonds, 53 are derivatives, 47 are shares, 32 are securities derivatives, 31 are exchange-traded funds and 29 are structured financial products SIs across asset classes.
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