. An increased market complexity
. A liquidity access complexity
. Counterparties access complexity
. MIFID2; market abuse, best execution, market transparency,
. Reporting obligations and auditing,
. Support resources to ensure security, operational risk management
. Get lower execution cost & broker fees,
. Increasing cost of operations for compliance, risk, MO
. Increased cost of technology to maintain and update technological trading infrastructure
. AUM growth
. Portfolio managers 100% dedicated fo fund management,
. New asset class extension,
. Geographical extension, local or new markets
Challenging Market Structure
Increasing Regulation & Compliance
Cost Pressure
Business Scalability Need