While transparency may be seen as a new wonder drug that will cure all the industry’s ills, it does not come without side effects, so it was refreshing to see ESMA promoting a collaborative approach with the industry in defining the details of how MiFID II and MiFIR are implemented.
US financial institutions are spending more on risk mitigation than ever before, according to a new study by post-trade services utility the DTCC.
Global standards and approaches to regulation need to focus more on removing risk from the financial system rather than on compliance – but to do so international regulators will need to harmonise their efforts and embrace technology to a much greater degree.
The complexity of regulatory reforms in Europe and the US are placing pressure on the industry and may catch some participants unawares.
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.
Broadridge Financial Solutions has formed an alliance with UK software developer Lombard Risk Management under which Lombard’s collateral management system will be integrated into Broadridge’s applications and infrastructure services.
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.
Political turbulence in the Ukraine, Russia and Turkey this year produced disagreement between senior financial industry executives at a FIX Trading Community conference in London yesterday, with some arguing that politics should not be allowed to detract from the longer-term rise of non-western economies and others arguing the opposite.
Despite efforts to create a more transparent OTC derivatives market, market data costs have increased significantly since 2008 and the buy-side has very little to show for it, according to senior financial executives speaking at an event organised by FIX Protocol in London on 6 March.
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.
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 […]
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.
Industry standards organisation the FIX Trading Community has published its guidelines for transaction cost analysis in equities, which it says will help to create a better market by clearing up the competing methodologies and definitions that are currently in use.
The Dodd-Frank Act launched the acronym SEF into the alphabet soup of modern capital markets, After three years of repeated discussions, consultations, submissions and furious wrangling, Swap Execution Facilities finally come into operation this week.
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.
In the wake of scandals involving manipulation of market indices, can statistical learning theory be used to detect and fix anomalies in Libor and other market indices?
Oman’s Bank Muscat has installed tech firm Charles River’s investment management solution for its asset management business in the Arabian country, which covers equity and fixed income.
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.
Citi has begun lending services in Russian securities through its OpenLend platform, which the bank says will help investors to diversify into promising emerging markets.
Bloomberg’s execution management system has begun using a complex event processing engine from tick data and analytics specialist OneMarketData to support its intra-day trading analytics.
As Moscow modernises its corporate governance, legal institutions and financial infrastructure, new possibilities are opening up to foreign investors, says Tim Bevan, executive board member at BCS.
The International Swaps and Derivatives Association has set a date for the first stage of sweeping changes to the ISDAFIX benchmark for annual swap rates, as part of a major global push to clean up rates and make them more accountable.
Trading system monitoring specialist ITRS Group has added a module to its Geneos system for the Murex cross-asset trading and risk management platform.
January has been a good month for ETFs, with the launch of two new products aimed at making it safer and cheaper to trade – and easier to get the information needed to make trading decisions.
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.
A digital currency called Ven is poised to give alternative currency poster child Bitcoin a run for its virtual money.
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.
Following the tumultuous change that came in the wake of the subprime crisis, capital markets firms have yet to regain a strong foothold but 2014 is showing increasing evidence of a shift to a higher gear.
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.
IntercontinentalExchange has revealed further details of its plans for Liffe, following its acquisition of NYSE Euronext in November.
Germany’s Commerzbank has just signed up to Regis-TR, the European trade repository owned by German CSD Clearstream and Spanish CSD Iberclear, as part of the bank’s drive to ready itself for the EMIR legislation on OTC derivatives reporting.
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.
Smaller regional banks may want a single-dealer FX platform; unfortunately, they’re not cheap, so UK technology company Caplin Systems is targeting regional banks that want a single-dealer FX platform without building it themselves.
Sapient Global Markets has launched a close of business reporting service that it says will help capital and commodity markets trading firms to meet regulation at lower cost.
The group of banks holding a controlling interest in SIA, the Italian payments processor and systems developer, have reduced their ownership in a sale to a consortium of investment funds led by Fondo Strategico Italiano.
Euroclear UK and Ireland is planning to shorten its settlement cycle to T+2 from October next year, bringing its operations into line with clearing in Germany and Russia, which already operate T+2.
Standard Chartered and Agricultural Bank of China have launched renminbi-denominated clearing services in the UK in a deal that reflects the ongoing internationalisation of the currency.
