Glenn Handley

Glenn HandleyOct 11, 2026

Last full day in Orlando. Tomorrow we fly home. Today is SeaWorld and the legendary Mako and Kraken. This trip was a first for me: business meetings and a holiday combined in the same few weeks. I'd lined up 4 meetings in Miami and New Orleans for late September. Now that I work for myself I thought why not extend the time in the US and extend into a holiday. It had been too long. We were in Orlando with the children in 2001 and 2011 but this time it was about us. I wasn't sure how it would work. It worked very well, and I'd highly recommend it. Some of the best conversations I've had this year happened over a coffee or a long lunch, without a meeting room or a hard stop. Time zones helped too. Mornings for reading and writing, afternoons for meetings, theme parks and evenings for switching off. I met some lovely people Stateside. Thank you to everyone who made time for me, shared a view or simply made us feel welcome. I'll be following up with many of you over the coming weeks. Now I'm ready for the final chapters of 2026. The UK Budget on 28 October, the US Treasury clearing deadline at year end, and plenty for repo and collateral markets in between. There's a lot to write about. And thank you for the engagement on this week's bond market piece. The comments have been some of the best I've had, and they've given me material for the next one. See you back in the UK. Follow Glenn Handley for unfiltered market intelligence. If you'd like to discuss optimising your P&L, reducing costs, new markets and currencies, digital money or anything Repo, Securities Finance, Treasury, or Global Markets related please send me a DM. Go on, I've been doing this for 37 years! I don't ever remember a year as transformatory as 2026. Let's start 2027 with a clear plan for the new digital world.

Glenn HandleyOct 17, 2026

A lighter Saturday post, and a personal one. While Louise and I were in Orlando a couple of weeks ago, we said goodbye to one of our dearest friends. We watched his funeral online, then spent the afternoon at Epcot raising a glass to him in every country around the World Showcase. He'd have approved. Louise has decided to do something more lasting. This November she's taking on the Cancer Research UK Swim 10k Challenge: 400 lengths of a 25-metre pool, 35 at a time, three times a week. Swimming was her sport, five days a week, until a hip replacement that took five years to resolve kept her out of the water. She's now back to normal ("well, my normal anyway!") and determined to get back in the pool for a cause that touches all of us. As she puts it, there's no one she knows who hasn't been affected by cancer at some point. She's already more than halfway to her £1,000 target. If you'd like to help her over the line, or just send a word of encouragement, her page is here: https://lnkd.in/eVmkfU84 Thank you. And if you swim, keep her company in November. #CancerResearchUK #Swim10k

Glenn HandleyOct 16, 2026

Repo can absorb a shock without cancelling the margin call. A functioning market does not guarantee that your desk can get the cash it needs, when it needs it. In Issue 13 of The Plumbing, I ask: the market is working, but is your funding route? The distinction matters when assessing a second clearing agent, a faster collateral workflow or a reassuring funding plan. This week’s edition covers: What market-wide resilience does, and doesn’t, tell an individual borrower. Whether two funding providers genuinely give you two independent routes. Which constraints new clearing and tokenised-collateral developments actually remove. The questions I would take into Monday’s funding review. There’s also a link to the fuller Substack essay and details of my December advanced repo courses, online and in London. If these are questions your team needs to work through, let’s talk. Read Issue 13 below. If your preferred funding route became unavailable, what would your team actually do first?