This time (something) is different: why 2025 is the year to reassess UK markets

26th March, 2025

Stelios Tselikas, head of interest rate derivatives and Franc Sportiello, head of equity derivatives at ICE
City of London

Investors tend to shudder at the words “this time is different”. As captured by Reinhart and Rogoff in their 2009 book of the same name, history shows us that financial folly usually begins when hubris meets supposed market opportunity.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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