Gaining a trading edge in emerging-markets debt

A top-flight fixed-income trading desk is a key component of the investment process and can have a significant impact on realized returns. This is especially true in emerging markets, where the trading infrastructure varies greatly from country to country, and managers must cope with differing clearance and settlement procedures, custodial arrangements and regulatory constraints.

In this Q&A, Mike O’Brien, Director of Global Trading, offers his insights into how the trading desk seeks to add alpha to the investment process.