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Executive Summary

In Asia, a More Electronified Equities Market Feels the Impact of MiFID II color blocks

Although a tumultuous 2018 ended up being an overall positive year for most leading Asian equity brokers, owing to an active first half, the industry enters 2019 facing profound questions about how changes in regulations and market structure will affect the traditional institutional brokerage business model.

Methodology

Between July and September 2018, Greenwich Associates conducted interviews with 231 Asian equity fund managers and analysts and 104 buy-side trading desks at institutions based in Asia. Interview topics included overall market trends, compensation and broker relationships.