Investing in CMC Markets derivative products carries significant risk of losing money rapidly due to leverage and is not suitable for all investors. You could lose more than your deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.

A 3 minute Q&A with Richard Elston

06 Jan 2021, 23:55

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Three words that describe your job.
Intense, varied and satisfying.

What has been one of the industry’s biggest achievements in the last six months?
Without doubt it has been the response to the impact of the COVID-19 crisis. Significant efforts were made across the board to get staff working from home and continue business as usual. The resilience of these new models was then put to the test with bouts of hyper volatility which were seen, specifically in terms of the WTI and Gold dislocations.

How will financial markets innovate in the future? 
Technology continues to drive innovation in financial markets and I see no let up here. On the basis that speed of price construction and execution will remain of paramount importance, this arguably paves the way for instant settlement in the more traditional asset classes such as equities. The traditional exchange format may hamper progress here, but it’s something that must happen.

And what about derivatives? Where do you see the evolution there? 
CFDs started out as an institutional product, later adopted by the retail trading community. This retail edge has undoubtedly helped companies like CMC Markets drive the instrument’s sophistication to the benefit of the whole market over the last twenty years and I believe this shows what is possible with other asset classes too. Critically, the idea that all instrument types - such as Spot FX, Forwards Swaps, NDFs, Options and Futures - might now evolve in such a way so they are all deliverable centrally from a single ‘tap' would serve to further improve institutional market quality. Regardless of size, institutional counterparties shouldn’t find their choice of instruments constrained by the way that integrates with their own execution strategy or back-office systems.  

Which three famous people (alive or dead) you would invite to a dinner party & why?
Jack Lemmon – loved his films and he reminds me of my father in so many ways including physically.
Neil Armstrong – my fascination with aviation and the fact that he was a quiet, enigmatic man who sought privacy and never indulged in his achievements. I’d love to understand who he really was. Pilot, teacher, hero… what?
Bobby Moore – it’s all about West Ham winning the world cup in ’66.

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