The absence of market surveillance tools in many jurisdictions and regions is “potentially one of the more significant problems facing the markets in light of technological developments, such as the rapid speed of trade execution and increase in order volume”, says the International Organization Of Securities Commissions in its final report on surveillance.
Poland’s Warsaw Stock Exchange has been added to TMX Atrium’s trading infrastructure, one week after the exchange switched to its new UTP trading system built by NYSE Technologies.
US post-trade services utility the DTCC has appointed Peter Tierney as regional head of Asia, as the company continues its drive to be a global centre for OTC derivatives reporting.
Brazilian exchange BM&F Bovespa has installed a new market surveillance system from Nasdaq OMX, which it says will help ensure the safety of all market participants on the Brazilian market.
Prospects for Turkey’s capital markets gave delegates cause for optimism as the TradeTech conference and exhibition in London wound to a close on Thursday. “Turkey is moving from an emerging to a developed market,” said Alexis Chryssochoides, head of prop trading and product development at Eurobank Equities. “The country has already been upgraded by several […]
Market operators have a duty to educate the public about stock markets – and to take widespread concerns about the role of high-frequency traders seriously, according to Christian Katz, chief executive at SIX Swiss Exchange.
In contrast to the highly automated world of equities, bond trading is an area of the markets that is still heavily reliant on the telephone as a a trading tool, with person-to-person calls making up the bulk of activity on bond desks.
New trading systems in Brazil and Mexico are prompting high hopes that Latin America’s two largest markets will attract more international investors and grow their liquidity base, according to panellists at the TradeTech conference in London.
Discontent with regulation cast a cloud over delegates on the first day of the TradeTech conference in London, as senior industry executives pondered on the politicisation of the debate and the perceived failure of regulators to deliver efficient markets.
The next generation of trading venues went head-to-head on the first day at TradeTech in London– each keen to present its model of how best to match buyers with sellers.
While HFT may pose a real threat to market stability, the European Commission’s response has been woefully inadequate and shows a lack of understanding of the core issues, says professor Dave Cliff of the University of Bristol and former member of the UK government’s Foresight Project.
A session at Trade Tech in London fell into chaos earlier today, as furious delegates hurled accusations across the table and members of the audience sparred aggressively with panellists.
Trading technology company Fidessa has partnered with Asian brokers CIMB, DBS Vickers, Maybank Kim Eng, OCBC Securities, Philip Securities and UOB Kay Hian as part of a plan to create a one-stop trading service for all ASEAN markets.
Germany’s Eurex derivatives exchange has posted a series of videos, in which it explores the role of HFT in providing liquidity to its order book.
As tough new rules requiring the collateralisation of OTC derivatives take hold in Europe and the US, Citi has retooled its OpenInvestor investment services to include segregated collateral custody accounts – a move the bank says will help mitigate counterparty risk and improve collateral efficiency.
As new rules for OTC derivatives take hold in Europe and in the US, banks and asset managers face a complex cocktail of mandatory clearing, reporting and increased collateral requirements.
Australian alternative trading system Chi-X Australia has appointed John Fildes as its new chief executive, taking over from Peter Fowler on 1 May.
Nasdaq OMX Group is to acquire bond platform eSpeed from BCG for $750 million in a move that highlights the increasing tendency for large stock exchanges to diversify as capital markets revenues from equity trading continue to decrease.
Japan Exchange Group has set out plans to slash 8.5 billion Japanese yen (£60 million) from its annual operating costs by 2015 – representing 15% of the firm’s overall budget – as the exchange seeks to revitalise its equities and derivatives markets and take on its competitors.
Following a period of equity market consolidation, the time is right for a new entrant to step forward and transform the exchange business, according to Alasdair Haynes, chief executive of startup trading venue Aquis Exchange.
As Europe’s new EMIR derivatives regulation takes hold, senior buy-side representatives have warned that new rules including EMIR and Basel III might actually exacerbate risks rather than reduce them.
As tough new collateral requirements bring ever greater pressure to bear on banks and financial market participants, the union of European clearing houses EMCF and EuroCCP into a new combined entity will help make clearing and settlement more efficient, according to Diana Chan, chief executive at EuroCCP.
Swedish trading system specialist Tbricks has released OnDemand, a new platform that it says will remove the need for trading firms to make any investment in hardware, installation nor running costs.
The Bombay Stock Exchange has become the latest exchange to sign up for Deutsche Börse’s Eurex platform, with the announcement of a long-term technology alliance under which BSE will join the Eurex technology roadmap and deploy Deutsche Börse Group’s trading architecture. As a first step, BSE will replace its derivatives market platform in the course […]
The Depository Trust & Clearing Corporation will start operating a Japanese over-the-counter derivatives trade repository this month, flowing approval by the Financial Services Agency of Japan.
While laudable in intention, reforms to Europe’s OTC derivatives markets may be in danger of inadvertently adding so much cost for participants that the original purpose is undermined, according to Anthony Belchambers, chief executive officer at the Futures and Options Association.
There are “major discrepancies” in firms’ readiness for the implementation of Target2-Securities that leave “significant gaps” in the industry’s plans, according to new research carried out by Celent and Swift.
As the deadline for mandatory swaps reporting approaches for more and more asset types, US post-trade services utility the DTCC has announced that swaps dealers are now submitting OTC derivatives trade information for all five major asset classes into its US swaps data repository, DDR.
Capital markets are broken because liquidity is fragmented and there is no way for the sell-side to pool its liquidity – but that will soon change, according to Christopher Gregory, co-founder and chief executive at start up trading venue Squawker.
Clearing house LCH. Clearnet has cleared $22 trillion notional of interest rate derivatives through its SwapClear service for buy-side clients, as market participants put in place the final preparations for the Dodd-Frank clearing deadline on 11 March.
Trading technology company ConvergEx Group has released a new suite of algorithms designed to capitalise on growing interest among market participants in multi-legged options trading strategies.
The European Central Bank has signed a deal together with the central banks of 18 countries to adopt Thomson Reuters’ Eikon desktop for trading and market data.
While changes to the OTC derivatives world grab the headlines, trading is moving to a cross asset world, largely driven by regulation and standardisation – and after a few years of pain, firms may find that they are better off as a result.
German clearing and settlement business Clearstream has opened a new link to Russia’s CSD, the National Settlement Depository, that should allow customers based in the west to trade and settle Russian OFZ treasury bonds more easily.
The London Stock Exchange’s FTSE Group and Canadian exchange TMX have signed an agreement to combine their fixed income index business in a new joint venture, resurrecting at least part of the cooperation originally planned under the two exchanges’ failed merger back in June 2011.
Russian broker Renaissance Capital has built a cross-margining tool for the Moscow FX and derivatives markets Micex Selt and Forts, and the London Stock Exchange’s international order book.
Financial technology company SmartStream has launched a reconciliation solution designed to provide low-cost back office services.
The Qatar Exchange has introduced sponsored access and market making for the first time, in a move intended to boost liquidity and make it easier for a wider pool of investors to access the market.
European exchanges Eurex and NYSE Liffe are soon to list a host of new derivatives, based on MSCI indices. From March, market participants will be able to trade futures and options based on the MSCI World, MSCI Europe, MSCI All Countries Asia Pacific ex-Japan and futures on the MSCI Frontier Markets.
The Australian Securities Exchange has expanded its efforts to connect to international market with the launch of the ASX Net Global network, which connects to Asia, Europe and North America.
