Senior executives in the trading and market infrastructure industry anticipate more mergers in the months ahead, with smaller firms and financial technology startups needing to scale-up to survive in the post-pandemic market.

There has already been a swathe of acquisitions in the trading and market infrastructure industry over the last 12 months. Swiss stock exchange group Six acquired a controlling stake in Spanish bourse BME in June last year; S&P Global and IHS Markit merged in a $44bn transaction in November; and at the start of this year the London Stock Exchange Group finalised its $27bn deal for data provider Refinitiv. There have also been several less high-profile deals.