Third Avenue Management: US Government shutdown fuels market uncertainty, while buy-side overhauls core tech systems.
As markets enter the fourth quarter of 2025, the US Government shutdown kicks off a fresh bout of uncertainty and potential for market volatility. Michael Warlan, global head of trading and operations at Third Avenue Management, speaks to Trader TV about unease in the market if the government disruption continues past this week.
Despite the unsettled market backdrop, Warlan also discusses the details of how his buy-side firm is rolling out a new execution and order management system (EMS and OMS), detailing implementation challenges, its importance in today’s trading environment, and the future role of auto-execution across its multi-asset desk.
