Xchange brief
Published 30 Apr 2026

Retail revolution: how are neo-brokers reshaping capital markets?

Investor expectations on access, cost and product range are changing. Are traditional firms being forced to redesign operating models?

Retail revolution: how are neo-brokers reshaping capital markets?
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In this brief:

  • Why Clearstream's most-traded security is now an Australian defence tech company
  • Who are the neo-brokers, and what makes them different
  • What they want from post-trade
  • How they are reshaping capital markets
  • Three questions incumbent providers need to ask

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