Good evening,

Tonight we can all say bye bye to FY21.

More importantly in the world of investment banking and deals, it’s the end of the first half. M&A and ECM levels are up strongly in Australia and offshore, as has been well documented, while we take the half-time break as a chance to look at what’s happening in the highly competitive world of institutional equities.

Broker market share – one measure of who’s who – shows despite all the traders and analysts changing shops, the big platforms are retaining market share. They may be doing fewer block trades, or corporate deals, but the day in, day out bread-and-butter trades are still flying down their pipes.

In Street Talk tomorrow, we grab the latest broker market share numbers.

We also have news on a few private equity deals. Firstly, Mercury Capital has secured a ripping payday at labels company Hexagon, while Crescent Capital is setting up to secure the same at clinical research testing business Nucleus Network.

Happy reading

Sarah Thompson, Anthony Macdonald and Yolanda Redrup
Street Talk Editors