Industry insights for FILS EU 2023
FILS in Barcelona - Latest
The de-dollarisation debate
Investors see their short duration positions getting longer this year, with a shift to EM debt, and a multi-decade case for de-dollarisation, attendees at the Fixed Income Leaders Summit in Amsterdam heard today.
“Markets are...
Private credit: “Don’t get involved now!”
Louis Gargour, chief investment officer at LNG Capital gave this late-cycle warning at a FILS panel dedicated to alternative investment in private credit. He echoed what Jamie Dimon said at JP Morgan’s latest earnings...
“Vested interests” scupper primary markets electronification progresses
Bond markets are electronifying fast in secondary markets and efforts have been made in primary markets too. However, the level of progress was hotly disputed in a debate pitting Cathy Gibson, global head of...
“Artificial Intelligence won‘t replace actual intelligence”
Rising stars of the industry are keen to embrace new technology and work with senior colleagues – and if given the right opportunities, their career paths can develop faster than ever before, panelists at...
FI at “beginner’s stage of execution automation”
Traders are increasingly using new technologies to aggregate data, identify trends, and improve execution performance. The industry has long trailed equities in its adoption of automation and AI, but that is finally changing, according...
FCA estimates revenue from UK consolidated tape to be £4 million over five years
Attendees at the Fixed Income Leaders Summit in Amsterdam were told to get ready for the arrival of the consolidated tape in Europe, with a promise it will happen very soon and at a...
Why humans give the best execution
Understanding best execution requires an understanding that both explicit and implicit costs can have a serious impact on investment goals, and these often reach beyond cost. This was the message for the audience at...
Strategically automate and allocate to survive
There is a lot to be afraid of in the modern world. Geopolitical shocks, inflation and black swans abound, and the old ways do not always hold up. Panelists at FILS Europe explained how...
Quant funds assess the value of trading
There are huge variations in investment and trading activity across quantitative strategies, the Fixed Income Leaders Summit heard in Amsterdam on Wednesday, and the value tha trading provides varies as well.
Peter Lindroth, quantitative...
PMs say treat LLMs like interns while vendors build on it
At the Fixed Income Leaders Summit (FILS) in Amsterdam, artificial intelligence (AIs) and large language models (LLMs) were referenced in most panels but two different AI mindsets were on display: a subset of buyside...
Fund managers report more certainty in EM than in developed markets
The key takeaway from the first plenary session at the Fixed Income Leaders Summit in Amsterdam was clear; in 2026, uncertainty has become a developed market problem while the emerging market environment seems more...
Data and diversification key to solving liquidity woes
The market is fond of complaining about the lack of liquidity in markets. But panellists at this year’s FILS Europe argued that there is more of it out there than people might think –...
Bloomberg’s open chat API creates exciting but costly opportunities
Bloomberg’s cross-firm chatbot API service can save companies time as they share information. But they are also expensive, and present firms with a fresh dilemma – how to deal with the deluge of data...
FILS EU 2025: Traders need to take control of their future
While the European and UK consolidated tape fiascos are dominating gossip around the Fixed income Leaders Summit in Amsterdam, other big themes are clearly showing through.
The asset management industry is continuing to tighten its...
European credit trades size up 15% year on year Q3
European credit trades keep getting larger. The notional blended trade size for Investment grade and high yield European credit was €786k in September 2025 up from €689k in September 2024 and has been consistently...
Market awaits CT news amid cross-Channel delays
Market participants have been asking for a bond consolidated tape for years; and they’re going to have to wait a little longer than planned, with both the EU and UK tapes facing delays.
In the...
‘Alternative’ rating agencies’ early Greece upgrades led Moodys and S&P
Greek spreads over German debt have tightened from 270 basis points to 70 basis points since mid 2022. Non-traditional rating agencies like Scope ratings or DBRS Morningstar, were the first to restore investment grade....
Don’t Panic: How French credit has proven market Zen
The resignation of the French Prime Minister, Sébastien Lecornu, on 6 October came after less than a month in office. Being the third prime minister under President Emmanuel Macron, this sparked a huge number...
Treasury futures fight intensifies between FMX and CME
The US Fixed Income Leaders Summit 2025 showcased the fierce rivalry in the US treasury futures space, between incumbent giant exchange CME and upstart rival FMX, as both exchanged jibes on the conference stage....
Exclusive: US analysis of Trading Intentions Survey 2025
This year we're diving deeper into the Trading Intentions Survey. to give a more nuanced view of buy-side engagement with trading services, platforms and tools in the corporate bond market
Historical comparison of the...
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FILS 2024: Could large number models help AI transform finance?
The enormous potential of artificial intelligence to change the way investment firms invest and trade in markets was explored at the Fixed Income Leaders Summit in Paris on Friday, with Revant Nayar, principal and...
What FILS delegates want
With the Fixed Income Leaders Summit (FILS) Europe upon us, The DESK has been speaking to attendees to discern what topics are most eagerly anticipated at this year’s event. From technology to transparency, market...
FILS USA: Make sure you know which side you are on in US Treasuries
New US Treasury market regulations still have validity, ten years after the market’s infamous ‘flash jump’, as its need for resilience reflects multiple challenges and changes, observed participants at the Fixed Income Leaders’ Summit...
The DESK: Systematic trading
The DESK discusses effective systematic trading, the benefits to end investors, and the skills needed to create and run systematic workflows with Chris Minck, BlackRock's EMEA head of systematic execution, and Meredith Herold, CEO...
Research: How mid-sized asset managers e-trade larger orders
The DESK’s research supported by LTX, finds liquidity improving, larger electronic trade sizes and greater use of data science pre-trade.
In 2024 bond markets are seeing an improvement in the supply of liquidity and narrower...
FILS in Barcelona: Tough calls for investors
Big picture phrases like ‘higher for longer’ and ‘transitory’ inflation are too imprecise to guide a professional investor, the Fixed Income Leaders’ Summit (FILS) in Barcelona heard today.
Instead investment strategy needs to be based...
FILS in Barcelona: The modernisation of the bond market
A massive modernisation of the bond market is being recognised at the Fixed Income Leaders’ Summit in Barcelona.
Although the event was largely held under the Chatham House Rule, it was clear that the...
FILS in Barcelona: What will help traders best adapt to the new bond market?
Although the basic function of a trader – price and liquidity formation – has remained the same over the past two decades, the level of market fragmentation in that period has been in flux,...
This page is dedicated to reports from The Fixed Income Leaders Summit, Barcelona, 2-4 October, 2023. Sessions on the 2nd October, the Buyside Evaluation day, will not be reported.
While every attempt is made to record delegates accurately and obtain quote approval prior to publishing if there are any inaccuracies please contact Dan Barnes.
