PLP Spotlights: Insights from EQUITA
To celebrate leading Italian independent investment bank EQUITA becoming the latest Prime Liquidity Provider (PLP) to join LuxXPrime, we sat down with the bank's Head of Fixed Income, Carlo Bernasconi to learn more about the company and its ambitions.
Historically, the business was mainly focused on Italian cash equity but over time trading activities have diversified to other financial instruments, including bonds.
The fixed income desk, established in 2018, has grown rapidly thanks to a team of experienced professionals and a client-driven approach focused on flexibility, ability to provide liquidity to issuers, execution quality, and market insight. The desk is actually recognised as a key player in the Italian fixed income space, offering a broad range of services across government and corporate bonds, both on the primary and secondary markets.
Thanks to this collaboration we will better serve our institutional and professional clients through enhanced access to European markets, and over time, we expect to expand our activity within LuxXPrime, contributing to the growth of the platform and fostering its cross-border integration.
However, geopolitical tensions and diverging central bank policies are the main contributors to the short-term volatility and uncertainty we are experiencing. These dynamics challenge liquidity and pricing but at the same time generate opportunities for brokers like EQUITA.
In such market conditions we can leverage our technology capabilities, insights, and client relationships to identify value and provide efficient execution.
At the same time, the macroeconomic backdrop – with shifting monetary policies, inflation dynamics, and evolving credit conditions – will keep influencing trading strategies and liquidity. In this changing environment, intermediaries like EQUITA will have an opportunity to further differentiate their offerings through expertise, technology, and client relationships, helping investors navigate a more complex but also more dynamic fixed income landscape.
EQUITA is committed to supporting clients in identifying and trading instruments that combine performance with positive long-term impact.
How has EQUITA built its expertise in the Italian financial markets, particularly when it comes to fixed income instruments?
EQUITA’s strong expertise in financial markets is the result of its more than 50 years’ history in Italy as leading independent broker. The trading floor combines deep local knowledge with a long-standing network of relationships with domestic and foreign institutional investors.Historically, the business was mainly focused on Italian cash equity but over time trading activities have diversified to other financial instruments, including bonds.
The fixed income desk, established in 2018, has grown rapidly thanks to a team of experienced professionals and a client-driven approach focused on flexibility, ability to provide liquidity to issuers, execution quality, and market insight. The desk is actually recognised as a key player in the Italian fixed income space, offering a broad range of services across government and corporate bonds, both on the primary and secondary markets.
As a member of LuxXPrime, what are EQUITA’s strategic priorities, and how do you see this relationship developing over time?
By partnering with LuxXPrime we aim to strengthen our bond trading business, which focuses on strong commitment to transparency, efficiency, and liquidity.Thanks to this collaboration we will better serve our institutional and professional clients through enhanced access to European markets, and over time, we expect to expand our activity within LuxXPrime, contributing to the growth of the platform and fostering its cross-border integration.
From your perspective, what is the current outlook for the bond trading market, and what are the main hurdles and opportunities facing participants?
The bond market is finally stabilising after a period marked by monetary tightening and persistent inflationary pressures.However, geopolitical tensions and diverging central bank policies are the main contributors to the short-term volatility and uncertainty we are experiencing. These dynamics challenge liquidity and pricing but at the same time generate opportunities for brokers like EQUITA.
In such market conditions we can leverage our technology capabilities, insights, and client relationships to identify value and provide efficient execution.
Looking toward 2026 and beyond, which trends or market shifts do you expect will have the biggest impact on bond trading?
We expect technology and regulation to continue reshaping the way bonds are traded. The growing adoption of electronic platforms and data-driven tools is making the market more efficient and transparent, while also broadening access for different types of investors.At the same time, the macroeconomic backdrop – with shifting monetary policies, inflation dynamics, and evolving credit conditions – will keep influencing trading strategies and liquidity. In this changing environment, intermediaries like EQUITA will have an opportunity to further differentiate their offerings through expertise, technology, and client relationships, helping investors navigate a more complex but also more dynamic fixed income landscape.
With ESG and sustainable finance becoming increasingly important, how do you see these themes affecting trading strategies and opportunities for 2026?
ESG factors are becoming more integrated into investors’ investments and trading decisions. We see growing demand for green and sustainability-linked bonds, and we expect this segment to expand further.EQUITA is committed to supporting clients in identifying and trading instruments that combine performance with positive long-term impact.
