Now is the winter of our discontent

This October, it’s 25 years since ‘Big Bang’ and with the current global financial and economic disaster inflicting everyone on the planet and protests against capitalism worldwide, a reflection on the last 25 years is called for. There has been many market and economic downturns over the past 25 years. They are a regular occurrence. Like winter they tend to have a limited time when they are at their worst and always lead to a slow turn to spring and hopefully a warm and sunny summer. Before the season turns and cools for another winter.

However, we now find ourselves in a cataclysmic situation, where a sustained winter might lead to a new and unique economic and financial ice age. Such historical situations require imaginative and bold solutions. Traditionally, we tend to rely on the politicians to lead us out of a crisis, but today we find politicians worldwide, unable to step up to the plate. Are they unable to realise the gravity of the situation or are they numb struck against voters becoming dissatisfied? We all know that politicians are manic about gaining votes and retaining office and this could be a factor in their apparent inability to come up with an acceptable plan or strategy to give leadership to the markets and tax payers. They may be underestimating the power of the voter to demand action. And the capitalism protesters could be the beginnings of a new movement to build a new concept of capitalism that has a fairer society as its objective. The politicians must heed the noise and feel the wind of change.

At the November Post-Trade Forum, the keynote speech will be provided by Nicola Horlick, CEO, Bramdean Asset Management, joining her on the panel for the debate will be Brian Winterflood, the legendary City trader, Kevin Milne, currently Director of Post-Trade Services at the LSE and Hiranda Misra, former COO of Chi-X Europe, all of whom have experienced decades of change, both good and bad and have seen upside and downturns. They have also had to cope with mountains of regulation and political interference in markets.

Today after 25 years of change since ‘Big Bang’ is the investor getting a better deal?

Is the market a more efficient, cheaper and more rewarding place to work and invest in? Or is it teetering on the edge of an abyss, where major restructuring is needed and where the future might entail the making of difficult decisions to reshape the markets to be fairer and more transparent, in keeping with the mood of change beginning to manifest, in all the major global markets.