The 2021 Wrap & Exciting Times Ahead!

In 2021, we’ve seen our buy side members navigate volatility, rally and resolve as a true community. So, we’ve created The Finance Hive 2021 wrap in the form of an interactive scribe visualising some of the biggest themes and insights of 2021 that have influenced the trading desks across FX, Equities and Fixed Income, as well as some of our company highlights. We’ve also included a bit of insight on what’s to come in 2022, so take a look and see what you think…

<em>“It’s been a pleasure connecting with The Finance Hive community over the past 6 months. Since I’ve joined the company I’ve had the opportunity to speak with heads of desk from across the buy side, and it’s been fascinating to hear how they have been adapting to the new hybrid way of work – and have thrived and continued to pioneer execution and workflow innovations. A particular highlight was being able to meet with members face to face – and I can’t wait to connect with more members across the globe in 2022.” </em></p> <p><strong>Liam Heraty, Head of Content, The Finance Hive</strong>

</p> <div><em>“2021, what a year! I’ve been with The Hive for 3 years now and it’s been a pleasure to see our communities continue to grow thanks to the expertise, passion and openness of our wonderful members and partners. This year has also seen us as a company scale and what an absolutely brilliant bunch of people we have. Cheers to 2022 adventures!! Many exciting developments ahead…” </em></div> <div></div> <p><strong>Kate Rowney, Head of Marketing, The Hive Network</strong>

<em>“It is all about the people! Our members and partners – so generous and supportive of one another. But above all our incredible Hive team. Thank you everyone and looking forward to 2022.”</em></p> <p><strong>Sally Green, Co-Founder and Director</strong>

<em>“Since joining The Finance Hive, a big highlight has been attending in-person events. I have attended 3 in total across Fixed Income, Equities and finally FX earlier this month. There really is nothing like the magic and buzz of meeting in-person as well as the satisfaction of putting some faces to names!</em></p> <div><em>I have really enjoyed being a part of the team – everyone has been so welcoming and supportive since day 1. I am looking forward to getting to know more of our members across the globe in 2022!” </em></div> <div></div> <p><strong>Evie Twyford, Community Manager FX, The Finance Hive</strong>

</p> <div> <p><em>“Bringing the buy side back together in London has been very enjoyable, and I cannot wait to welcome our European, US and APAC communities back in-person in 2022. Some of the anonymised, impartial reports we have produced have also been fun to create, giving us a true flavour of the markets and the buy side view, and giving this back to our communities to support them with their internal projects and their goals. The feedback we receive from these is always motivating and entices us to do more! The agility and ability to react to major shifts in both financial markets, and those with the pandemic which has enabled us to (hopefully) continue to deliver value to the buy side community. I have also enjoyed seeing all our communities grow across each asset class as more buy side firms have supported The Finance Hive and our mission to give the buy side one voice. Also, seeing the Finance Hive team grow to what it is now, where we have doubled in size, has been amazing and it has been great to welcome new faces who are all bought in to what we are doing and a different way of looking at connecting the buy side. I am looking forward to seeing what we can achieve together in 2022!”</em></p> </div> <p><strong>Oliver Kirkbright, Director, The Finance Hive</strong>

<em>“What a year 2021 has been for us at The Hive Network, challenging, fulfilling and amazing! Being able to adapt to the ever changing nature of the world that we live in has tested us all! There have been many highlights for me to draw from but there is one core theme for me that is consistent, and that is PEOPLE, both our members and partners and also The Hive Team. </em></p> <div><em>Firstly our members and partners, who have been unfailing in their support to keep their communities alive throughout this year. Joining us from all over the world; supporting their peers with ideas and solutions; sharing their challenges and successes and being so open to contribute has kept our Finance Hive community active, engaged and alive in 2021! Topped off by the excitement of being able to see many of them in person when we returned back to Live sessions reminded me of how privileged we are to have such an amazing network of individuals supporting us, and each other. An absolute highlight and I cannot wait to build on this with each and every member and partner in 2022.</em></div> <div></div> <div><em>However, my greatest highlight is reserved for all my team members at The Hive Network. A passionate group of hard working and inspiring individuals that I am fortunate to be able to work with. They have worked tirelessly to bring our communities together in the most challenging of environments, they have had to adapt daily, whether that be working from home; unexpected last minute changes; cancellations; returning to in person and the list goes on. Throughout all of this, they have kept their spirits high, kept being inquisitive, kept thinking about our members and kept their belief real! It has not been easy and they deserve all the credit. They are the heartbeat of The Hive and I am incredibly proud of all of them. Thank you Team Hive, my highlight! “</em></div> <p><strong>Noj Mather, Co-Founder and Director</strong>

<em>“The main highlight of this year has been seeing our communities being back together face to face. The team here worked so hard and had a huge amount of disruption in making the physical meetings happen but seeing how much value members get from being on site and how productive the roundtables were. 2022 is going to be a big year!”</em></p> <p><strong>Jamie Cox, Partnerships Manager, The Finance Hive</strong>

<em>“In a nutshell my highlights of 2021 is that over the last 12 months it’s been a true pleasure to connect with our members globally on a very regular basis. 2021 has brought us even closer to our members and our partners. Members’ connections/relationships amongst themselves have become even more deeper and meaningful too. So grateful for everyone’s support!”</em></p> <p><strong>Julie Nicolas, Chief Growth Officer, The Finance Hive</strong>

</p> <ul> <li><strong><a href='https://www.thehive-network.com/finance/the-fx-live-scribe/' target='_blank' rel='noopener noreferrer'>The FX Live Scribe</a> </strong>visualises all the key discussion points, buy side takeaways and photos of the FX London live members meeting</li> </ul> <p><span style='font-weight: 400;'><img decoding='async' loading='lazy' class='alignnone wp-image-22620 size-us_300_200_crop' src='https://www.thehive-network.com/wp-content/uploads/2021/12/1638463796727-300x200.jpeg' alt='' width='300' height='200' /><img decoding='async' loading='lazy' class='alignnone size-medium wp-image-22628' src='https://www.thehive-network.com/wp-content/uploads/2021/12/1638466981906-300x200.jpeg' alt='' width='300' height='200' /><img decoding='async' loading='lazy' class='alignnone size-medium wp-image-22623' src='https://www.thehive-network.com/wp-content/uploads/2021/12/1638463797130-300x200.jpeg' alt='' width='300' height='200' /><img decoding='async' loading='lazy' class='alignnone size-medium wp-image-22615' src='https://www.thehive-network.com/wp-content/uploads/2021/12/1638451299642-300x200.jpeg' alt='' width='300' height='200' /></span>

</p> <ul> <li><strong><a href='https://www.thehive-network.com/finance/the-equities-hive-live-scribe/' target='_blank' rel='noopener noreferrer'>The Equities Live Scribe</a> </strong>visualises all the key discussion points, buy side takeaways and photos of the Equities London live members meeting</li> </ul> <p><img decoding='async' loading='lazy' class='alignnone size-medium wp-image-22153' src='https://www.thehive-network.com/wp-content/uploads/2021/01/043A1644Hiveequities031121-300x200.jpg' alt='' width='300' height='200' /><img decoding='async' loading='lazy' class='alignnone size-medium wp-image-22086' src='https://www.thehive-network.com/wp-content/uploads/2021/01/9X0A3664Hiveequities031121-300x200.jpg' alt='' width='300' height='200' /><img decoding='async' loading='lazy' class='alignnone size-medium wp-image-22085' src='https://www.thehive-network.com/wp-content/uploads/2021/01/9X0A3653Hiveequities031121-300x200.jpg' alt='' width='300' height='200' /><img decoding='async' loading='lazy' class='alignnone size-medium wp-image-22078' src='https://www.thehive-network.com/wp-content/uploads/2021/01/9X0A3604Hiveequities031121-300x200.jpg' alt='' width='300' height='200' />

This year our community of buy side leaders have been more engaged and connected than ever before as they have helped one another navigate through unprecedented disruption and market volatility…</p> <ul> <li> <p style='text-align: left;'>Over <strong>931</strong> trading heads representing<strong> 723</strong> buy side firms globally, including asset managers, hedge funds, currency managers, wealth managers and corporate treasuries.</p> </li> <li style='text-align: left;'>Have attended between them <strong>3</strong> live meetings &<strong> 230</strong> discussions and interactive digital meetings.</li> <li> <p style='text-align: left;'>Which has led to over <strong>32,000</strong> introductions made for the buy side seeking answers and solutions for their business.</p> </li> </ul> <p>

</p> <h3><strong>Platform…</strong></h3> <p>Members have been engaging daily on our buy side only platform. We’ve got some exciting updates coming up including our very own hive application, so watch this space!</p> <div> <div dir='ltr' data-smartmail='gmail_signature'> <div dir='ltr'></div> </div> </div> <p>

</p> <h3><strong>Peer to Peer </strong></h3> <div> <ul> <li>We’ve created <strong><a href='https://www.thehive-network.com/finance/peer-to-peer-scribe/' target='_blank' rel='noopener noreferrer'>a scribe visualising the key takeaways,</a> </strong>following one of our recent member discussions on peer to peer trading</li> </ul> <p><strong>Discussion key takeaways:</strong></p> <ul> <li>P2P is aligning like minded clients, minimising volatility, tracking error and market impact.</li> <li>P2P platforms must create enough critical mass so buy side can see the value of it.</li> <li>One of the main roadblocks for greater adoption is aligning dates with other buy side.</li> <li>Buy side have concerns around toxic flow and the entrance of non buy side liquidity providers to p2p pools.</li> <li>Broken dates are an area of particular concern that will need to be addressed for greater uptake</li> </ul> </div> <div> <div dir='ltr' data-smartmail='gmail_signature'> <div dir='ltr'></div> </div> </div> <p>

</p> <h3><b>FX Reports</b></h3> <div> <ul> <li>Following one of our recent FX US Digital Week, we’ve created <strong><a href='https://www.thehive-network.com/wp-content/uploads/2021/12/Boston-Digtial-Post-Event-1.pdf' target='_blank' rel='noopener noreferrer'>the FX Leaders post meeting report</a></strong></li> <li><strong><a href='https://www.thehive-network.com/finance/addressing-the-challenges-and-opportunities-that-come-with-trading-em-and-restricted-currencies/' target='_blank' rel='noopener noreferrer'>The EM & Restricted Currencies Report</a></strong> summarises the conversation and highlights the challenges the buy side participants are dealing with in these markets.</li> </ul> </div> <div> <div dir='ltr' data-smartmail='gmail_signature'> <div dir='ltr'></div> </div> </div> <p>

</p> <h3><strong>Analytics</strong></h3> <div> <ul> <li> <p class='p1'>Based on member insights on analytics, we’ve created <strong><a ref='magnificPopup' href='https://www.thehive-network.com/wp-content/uploads/2021/12/Copy-of-Smart-Analytics.jpg' target='_blank' rel='noopener noreferrer'>a scribe visualising the key takeaways</a></strong></p> </li> </ul> </div> <div></div> <p>

</p> <h3><strong>Algos</strong></h3> <div> <ul> <li> <p class='p1'>On the back of one of our recent member discussions on algos, we’ve created <strong><a ref='magnificPopup' href='https://www.thehive-network.com/wp-content/uploads/2021/12/Algo-liquidity-Scribe-1-scaled.jpg' target='_blank' rel='noopener noreferrer'>a scribe visualising the key takeaways</a></strong></p> </li> </ul> </div> <div></div> <p>

</p> <h3><strong>EMS </strong></h3> <div> <ul> <li>Following one of our recent member discussions on EMS, we’ve created <strong><a href='https://www.thehive-network.com/finance/ems-platforms-benchmarking-fixed-income-pulse-report/' target='_blank' rel='noopener noreferrer'>the EMS pulse report</a></strong></li> </ul> <p><strong>Discussion key takeaways:</strong></p> <ul> <li>2022 is poised to be a year of EMS disruption for Fixed Income</li> <li>There has always been internal debate as to whether you need a Fixed Income EMS – and now there are clear drivers, liquidity fragmentation, increased usage of alternative protocols, quest for direct streaming and capturing increased dataflows</li> <li>There are a few roadblocks to adoption – Lack of standardised data, lack of customisation, interoperability with OMS, lack of vendor collaboration and cost</li> <li>30% of members have an EMS in place, 50% of those are bespoke, and 50% are multi asset with 37% using a 3rd party EMS</li> </ul> </div> <div> <div dir='ltr' data-smartmail='gmail_signature'> <div dir='ltr'></div> </div> </div> <p>

</p> <h3><strong>Low / No Touch</strong></h3> <div> <ul> <li><strong><a href='https://www.thehive-network.com/finance/datadriventrading-ediphyreport/' target='_blank' rel='noopener noreferrer'>The Case for a Consolidated Tape report</a> </strong>was created on the back of one of our recent member discussions on data driven trading</li> <li>Following one of our recent member discussions on low / no touch and automation, we’ve created <strong><a ref='magnificPopup' href='https://www.thehive-network.com/wp-content/uploads/2021/12/Copy-of-FI-Automation-Scribe-Image.jpeg' target='_blank' rel='noopener noreferrer'>a scribe visualising the key takeaways</a></strong></li> </ul> </div> <div></div> <p>

</p> <h3><strong>Protocols</strong></h3> <div> <ul> <li> <p class='p1'>Based on member feedback on alternative fixed income protocols, we’ve created <strong><a ref='magnificPopup' href='https://www.thehive-network.com/wp-content/uploads/2021/12/Copy-of-FI-protocols-scribe-scaled-1.jpeg' target='_blank' rel='noopener noreferrer'>a scribe visualising the key takeaways</a></strong></p> </li> </ul> </div> <div></div> <p>

</p> <h3><b>Fixed Income Reports</b></h3> <div> <ul> <li>We’ve just released <strong><a href='https://www.thehive-network.com/finance/fixed-income/report-portfolio-trading-2-0/' target='_blank' rel='noopener noreferrer'>The Portfolio Trading Report</a> </strong>on the back of one of our recent buy side discussions on portfolio trading.</li> <li><strong><a href='https://www.thehive-network.com/finance/fixed-income/report-increasing-all-to-all-engagement/' target='_blank' rel='noopener noreferrer'>The All-to-All Trading Report</a></strong> summarises the conversation from a recent member discussion and highlights how the buy side is becoming more active and confident as both price makers and takers.</li> </ul> </div> <p>

</p> <h3><strong>ESG</strong></h3> <div> <ul> <li>Following one of our recent member discussions on ESG, we’ve created <strong><a ref='magnificPopup' href='https://www.thehive-network.com/wp-content/uploads/2021/12/Copy-of-ESG-Updated-Scribe.jpg' target='_blank' rel='noopener noreferrer'>the ESG scribe</a></strong></li> </ul> <p><strong>Discussion key takeaways:</strong></p> <ul> <li>With the rising prominence of responsible investing, and the impact of Environmental, Social and Governance (ESG) factors, traders and PMs need to be more aware than ever of how they trade, and where they invest their time and money.</li> <li>It’s clear that there is a lot of discussion needed to help people progress. There is an understanding of the importance of ESG, but problems with how to integrate this into trading processes.</li> <li>What data do you need to gather? How can you overcome the issue of inconsistency in language – ESG in one jurisdiction may not mean the same thing in another.</li> <li>The main barriers to progress include a lack of ESG data standardisation</li> <li>Consensus that ESG is going to grow more important over time – but how does this impact traders, and what are the metrics that should be used to determine ESG, and the questions you should be asking of your brokers</li> <li>How do you evaluate ESG – what are the right questions to ask, what’s best practice, and then broaden this and integrate into metrics we consider when looking at partners we work with.</li> </ul> </div> <div> <div dir='ltr' data-smartmail='gmail_signature'> <div dir='ltr'></div> </div> </div> <p>

</p> <h3><strong>TCA / Data</strong></h3> <div> <ul> <li> <p class='p1'>Based on member feedback on TCA, we’ve created <strong><a ref='magnificPopup' href='https://www.thehive-network.com/wp-content/uploads/2021/12/Copy-of-TCA.jpg' target='_blank' rel='noopener noreferrer'>the TCA scribe</a></strong></p> </li> <li><strong><a ref='magnificPopup' href='https://www.thehive-network.com/wp-content/uploads/2021/12/Copy-of-Data.jpg' target='_blank' rel='noopener noreferrer'>Our data scribe</a> </strong>visualises a recent buy side discussion on challenges and potential improvements for structuring data</li> </ul> </div> <div></div> <p>

</p> <h3><b>Equities Reports</b></h3> <div> <ul> <li><strong><a href='https://www.thehive-network.com/finance/outsourced-trading-equities-report/' target='_blank' rel='noopener noreferrer'>The Outsourced Trading Report</a></strong> focusses on dispelling the notion that outsourced trading is a threat to the dealing desk</li> </ul> </div> <div> <div dir='ltr' data-smartmail='gmail_signature'> <div dir='ltr'></div> </div> </div> <p>

</p> <h3><b>FX Reports</b></h3> <div> <ul> <li>Following one of our recent FX US Digital Week, we’ve created <strong><a href='https://www.thehive-network.com/wp-content/uploads/2021/12/Boston-Digtial-Post-Event-1.pdf' target='_blank' rel='noopener noreferrer'>the FX Leaders post meeting report</a></strong></li> </ul> <ul> <li><strong><a href='https://www.thehive-network.com/finance/addressing-the-challenges-and-opportunities-that-come-with-trading-em-and-restricted-currencies/' target='_blank' rel='noopener noreferrer'>The EM & Restricted Currencies Report</a></strong> summarises the conversation and highlights the challenges the buy side participants are dealing with in these markets.</li> </ul> </div> <div> <div dir='ltr' data-smartmail='gmail_signature'> <div dir='ltr'></div> </div> </div> <p>