Fixed income is a bit like the tortoise of Aesop’s fables, while equities is unquestionably the rambunctious hare. While equities finished the race towards an agency trading model many years ago, fixed income is just plodding onto the starting lines now. But a little outsourcing may provide the rocket boost the industry needs to push ahead, according to Carl James, managing director of dealing services UK at BNP Paribas.
Post-trade services institutions Clearstream, BNP Paribas Securities Services, Intesa Sanpaolo and BBVA have formed a tie-up in Europe, which they say is aimed at better asset servicing n Belgium, France, the Netherlands, Italy and Spain under the ECB’s forthcoming T2S project.
Regulatory change in the OTC derivatives market has produced serious problems that indicate a clear need for more automation of cleared derivatives post-trade processing, according to a new report published by research house Greenwich Associates.
BNP Paribas Securities Services has launched a reporting tool for investment banks, which it says will help them cope with tough new financial regulations by better monitoring their intraday liquidity.
ABN Amro Clearing has launched a new global trading platform for equities and futures which it says can route clients between Asia, Europe and the US using a single FIX connection.
A new post-trade monitoring system will allow French broker Newedge to better manage its risk exposure from its Asian direct market access platform.
US broker BGC Partners and UAE government-run free zone the Dubai Multi Commodity Centre have done a deal to promote Islamic ‘Murabaha’ products, as part of a drive to turn Dubai into an Islamic finance hub. The DMCC has a trade platform called DMCC Tradeflow, which operates in the Jumeirah Lakes Towers Free Zone. A […]
Switzerland’s SIX Group will move to T+2 settlement starting on 6 October 2014, bringing Switzerland into line with the UK, France, Germany, the Netherlands and Russia.
Ken Harvey, the erstwhile HSBC group chief technology and services officer and group chief information officer, is to become chairman of CLS Group Holdings and CLS Bank International, succeeding Gerard Hartsink who will retire in October.
The Japan Securities Clearing Corporation has gone live on a new system for client clearing of Japanese yen-denominated interest rate swaps and collateral management.
Until the world has a definitive Legal Entity Identifier, we are going to have to recognise that piecemeal adoption brings with it significant hidden costs in validating, enriching and mapping for regulatory purposes. If the total number of registered market participants is meant to include all the corporates that trade FX forwards, we are far short.
The Tokyo Stock Exchange has begun offering latency performance management as a service to users of its Arrownet network, which the exchange says will help market participants gain deeper insights into the quality of their trading and market data communications between the TSE and their own systems.
Denmark’s Saxo Bank has introduced futures spread trading onto its online trading and investment platform for retail and institutional clients, in a move the bank says will give investors access to a low-volatility trading style.
Greece’s Hellenic Exchanges Group, which runs the Athens Stock Exchange and Athens Derivatives Exchange, has chosen to buy services from the London Stock Exchange to help it cope with tough new European trade reporting rules.
After nearly a decade of trying ATS Brasil is finally poised to launch an equities trading venue, bringing competition to Latin America’s largest market for the first time in many years.
Long-only institutional investors are increasingly turning towards advanced futures trading strategies that have previously been the preserve of hedge funds and proprietary trading shops, according to a new report published by Tabb Group and Fidessa.
European exchange group Euronext is planning to begin trading active open-end funds on its Paris market following a legislative decree in France allowing the funds to be traded on exchanges or MTFs.
Broker Instinet has released Make, a new algorithm which it says will help traders to shift large orders more cautiously without disturbing the market.
A week before the final reporting deadline for the European Commission’s EMIR regulation, tech firms are making a last push to get OTC trade reporting up and running.
Transaction cost analysis has become a staple feature of equities trading since 2007’s watershed piece of European legislation MiFID. But that’s just the beginning of a journey that is increasingly coming to transform the way FX and fixed income asset classes are traded, according to Michael Sparkes, director of analytical products and research at broker ITG.
The Market Model Typology post-trade reporting standard has been adopted as a standard by the FIX Trading Community and is now available for adoption by all market participants, bringing the possibility of a European consolidated post-trade tape a step closer.
Helping traders to understand input from social media can be a key differentiating factor, according to Albert Lojko, head of content strategy, data management and delivery at Thomson Reuters.
Post-trade services company Traiana plans to connect to four trade repositories in preparation for the European Commission’s EMIR legislation, which requires trade reporting and clearing of OTC derivatives.
There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.
Denmark’s Saxo Bank has built an online social trading community called TradingFloor.com, which draws on social media concepts such as LinkedIn and blogging alongside Bloomberg/Reuters style market data and news in an attempt to make trading more ‘social’.
Russia’s securities markets have taken another step forward with the decision by Euroclear Bank to launch post-trade services for Russian corporate and municipal bonds on 30 January, via its relationship with Russia’s newly established CSD the National Settlement Depository.
A new Canadian stock exchange aimed at retail and long-term investors is planning its debut next year, offering a service designed to curb high-frequency trading and support capital raising.
Reforms to the way derivatives trade in the US and Europe are causing a conflict between consumer desire for bespoke solutions and regulatory attempts at standardisation – and the self-inflicted panic as the deadline approaches indicates the cost may be too high, according to a panel of senior capital markets representatives speaking at an event organised by the Futures and Options Association in London on Tuesday.
Switzerland’s Zürcher Kantonalbank has installed a performance monitoring system from latency management specialist firm Corvil to monitor the performance of its market making and FX business, including market data quality, transaction analysis and FX order flow.
The London Stock Exchange has introduced a set of changes for its international order book, including a shift to T+2 settlement, a reduction in tick sizes and changed opening hours, ahead of upcoming EU regulations designed to harmonise settlement across Europe.
The London Stock Exchange has launched the first Chinese renminbi ETF listed in London, in a deal that will help open the Chinese A shares market up to international investors.
Dutch bank ABN Amro has become a member of German derivatives exchange Eurex’s OTC Clear service, which clears interest rate swaps, as part of the bank’s compliance with EMIR.
Most banks are still not ready for the arrival of Swap Execution Facilities, the new category of trading venues created by the Dodd-Frank act in the US to handle OTC derivatives. Worse still, market participants are almost universally negative about SEFs, according to a new paper by research house GreySpark Partners.
Japan’s Aizawa Securities has chosen vendor Fidessa as its new proprietary and wholesale agency trading system, as the Japanese firm prepares to revamp its algo trading against the backdrop of last year’s Japan Exchange Group merger and the upcoming integration of the derivatives market in two months’ time.
Electronic fixed income trading, one of the last major asset classes traded by humans, could take a big step forward when a new Nasdaq OMX dark pool trading venue goes live next year.
IntercontinentalExchange has revealed further details of its plans for Liffe, following its acquisition of NYSE Euronext in November.
The World Federation of Exchanges has set up a Cyber Security Working Group with a “mission to aid in the protection of the global capital markets” in the wake of a number of attacks on international exchanges over the past few years.
Bank of Beirut has gone live on Misys Sophis Value platform, which the bank says will help it increase its STP rate, manage trade repository and cross-asset collateral and margin, and better interact with Lebanon’s other banks.
Italian CSD Monte Titoli will connect to T2S via Colt and SIA, rather than via Swift, as the two companies vie for business ahead of the June 2015 go live date.
Bitcoin is more traceable but less regulated, less expensive but more volatile, and more decentralised but less accountable, than a regular currency. Feeling confused? That’s not the half of it, according to Ernst & Young.
