Three Minute Interview with Camilla Boldracchi
Non-bank eFX provision. How is CMC evolving here & how far can it grow?????
As a company we continue to grow our eFX provision, an initiative that facilitates us resting levels of liquidity on the order book that are significant enough to see us rank consistently as one of the top makers on the prominent ECNs. We’ve achieved that not only by harnessing our understanding of the technology and existing market expertise, but also because we are in a rare position that allows us to combine liquidity from both our retail and institutional franchises. Those factors have allowed us to improve price discovery, construct more dynamic price ladders and reduce latency, combining to ensure we can offer truly unique trading conditions.
We are hearing more about semi-disclosed pricing – why does this represent the best outcome for all clients?
This is nothing new for the institutional offering at CMC Connect, but I believe semi-disclosed pricing stands out as a favourable choice for clients. Its inherent flexibility strikes a balance between transparency and personal connection, offering clients a convenient avenue to engage with their preferred liquidity provider. This approach enables counterparties to swiftly gauge the characteristics of the LP they're dealing with, laying the groundwork for establishing direct relationships. With semi-disclosed pricing, clients can more efficiently allocate their time and resources towards cultivating the most meaningful connections that align best with their trading needs.
Does AI present an opportunity or a threat to the market?
There’s a lot of discussion about this but the genre is still very much in its infancy. AI certainly presents opportunities for efficiency, innovation, personalization, cost reduction and improved market insight. However, it comes with a host of challenges including bias, security risks, privacy concerns and the potential for market concentration. Balancing these factors will really require ethical considerations to be made, responsible deployment and then effective regulation to harness AI's true benefits.
There’s a lot of product innovation at CMC Connect right now – do you have any thoughts on what might hold the biggest potential?
In 2023, we made significant strides in advancing our product offerings, with the rolling out of cash equities allowing us to provide a one-stop-shop solution for a diverse range of clients. And that theme of innovation continues unabated, with options and listed futures products set to lunch imminently, providing enhanced hedging capabilities for clients. However, what truly excites me is the imminent introduction of a new multi-asset platform, something that will revolutionize trading by offering a broader range of instruments within a single interface, while also accommodating FIX and open API technology.
In your role are you able to help shape the way technology is deployed to benefit customers and the company, or does that direction come from elsewhere?
Within my team, I certainly feel like I have a part in shaping how technology is deployed to benefit both our customers and the company. Our management team prioritizes the needs of our clients, and that in turn empowers me to make decisions that align with those objectives. Whether it's reallocating developer resources to address specific client tech requirements or expanding our network by onboarding new ECNs to better serve our clients, I have autonomy and responsibility in driving these initiatives forward. Ultimately, ensuring that our technology enhances the customer experience is at the forefront of our approach.
22 April 2024