As I pore through my emails trying to catch up for the new year, I am still reminded of the whirlwind that was 2016. Certainly it was a year of many amazing, shocking, happy and sad events. In my world I am reminded by the Brexit vote, the U.S. election, the DOW approaching 20K, cyber threats, a Cubs World Series win and many, many passings of individuals who left too soon.
So starting in 2017, my thoughts are a precarious balance of optimism and uncertainty. I think it is fair to say with the major events of Brexit and the outcome of the U.S. election, “volatility” will be the buzz word. The impact will clearly be on the financial markets, but the implications will reverberate across geopolitics to mainstreet. Closer to the derivatives world, compliance and regulation will be a major focus. With the recent and expected changes to the CFTC (and continued other U.S. government changes), RegAT and MiFID will be jockeying for the mindshare and workshare of vendors and execution firms alike.