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.
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.
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.
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.
New guidelines published earlier this month by European regulator ESMA could have a major impact on market making across Europe, according to Matthew Coupe, director of regulation and market structure at NICE Actimize.
US post-trade services utility the DTCC has begun client testing ISO 20022 messages for corporate actions covering distribution events.
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 National Bank of Canada is to use algorithmic trading tools and market access from Nordic technology company Orc, through its subsidiary National Bank Financial.
Market participants using NYSE Technologies’ market data feed SuperFeed and SFTI network will soon be able to get social media sentiment statistics, following a deal between NYSE and specialist company Social Market Analytics.
On February 28, most of the approximately 70 registered swap dealers will stumble across the finishing line for the remaining asset classes of the CFTC implementation of Dodd-Frank trade reporting regulations. Some may be forgiven for breathing a sigh of relief.
Senior market participants have expressed outrage that exchanges continue to charge high fees for market data, while MTFs still lack the means to compete on auctions and are not represented on international indices.
2012 seemed like the year of regulators taking a prolonged look at computer trading – defining what it might be, its potential effects, why it may be problematic. It is still far from clear that we have answers to these fundamental questions.
Bank deleveraging may inadvertently spur a revival of equity markets, Antonio Zoido, chairman and chief executive at Spanish exchange group BME told delegates at the World Exchange Congress in London yesterday.
As new rules for the reporting of OTC derivatives draw closer around the globe, US post-trade services utility the DTCC is positioning itself as the provider of a global network of trade repositories – but OTC derivatives reform will only work if consistent measures are taken everywhere, says Stewart Macbeth, president and chief executive at the DTCC.
Regulatory data collection tools have been refined, standardised identifiers nearly constructed and more frequent and granular reporting rolled into regulation. Now that regulators have this mass of data, what is the next step in linking it and putting it to use?
Market data and technology company Activ Financial has expanded its risk gateway tool to cover all Canadian exchanges, ahead of new rules that will require market participants in Canada to have pre-trade risk controls in place across all asset classes from next month.
The Taiwan Futures Exchange is to list futures and options on German derivatives exchange Eurex, following an agreement between the two bourses to make it easier for international investors to access each other’s markets round the clock.
Hats off to Rising Sum, which has built a platform that identifies investment opportunities “using the acquisition criteria favoured by Berkshire Hathaway, Warren Buffet’s highly successful investment vehicle”.
A study shows that 62% of City traders “admit to missing key investment or sell opportunities because they didn’t keep track of time zone differences”.
Software company Information Mosaic has released an improved version of its corporate actions tool, IMActions, which it says will help banks and CSDs prepare for T2S.
Flawed decisions taken by machines are causing financial services firms to lose customers and suffer unexpected costs, according to new report by the Economist Intelligence unit. Yet retail banks are increasingly turning to technology to assess customers.
Four out of five financial institutions are not ready for new regulations governing the trading, reporting and clearing of OTC derivatives, according to a new survey by US communications company IPC.
Peter Reitz, managing director of Eurex Repo and Eurex Bonds since 2006, has stepped down from the posts. He will continue to bear overall responsibility for the two subsidiaries on the Eurex Executive Board.
Chilean broker Banchile, part of Santiago- based Banco de Chile, has deployed a brokerage platform from UK systems supplier Fidessa that will link it to international trading venues.
German central securities depository Clearstream has partnered with Belgian bank and insurance firm Belfius, to develop a new collateral service for bilateral trades, focusing on OTC derivatives and aimed at corporates and medium-sized banks.
Nasdaq OMX is to combine its market technology and corporate solutions businesses, in a move that it says will help the firm provide more transparency to customers and a stronger business proposition.
As job cuts continue to bite at some of the world’s largest banks and financial institutions, new figures from Bloomberg Industries reveal the scale of the cull driven by lacklustre macroeconomic performance in Europe, a declining stock market and tightening financial regulation.
Cambodia’s Acleda Bank has embarked on a massive programme of expansion in a bid to reach unbanked customers in the country, drawing on core banking technology provided by Swiss banking software company Temenos.
An alliance between central securities depositories in Germany, Spain, Brazil, South Africa and Australia aims to tackle the expected global shortfall in collateral arising from tough new financial regulation.
Far from coming out of a post-crisis period of grieving and re-learning how to engage with the wider world, the financial services industry looks like it is returning to its old belligerent self.
Interdealer broker ICAP has raised $36 million through the sale of a 12% stake in its Traiana post-trade processing and risk management business to a consortium of banks – Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, JP Morgan, Nomura, and the Royal Bank of Scotland.
European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.
US exchange operator BATS Global Markets’ revelation earlier this week that it may have accidentally breached best execution regulation on thousands of client transactions over a four-year period has been criticised by senior buy-side traders, who have expressed disappointment at the failure of exchanges to serve long-term investors.
Citi has established a set of alliances with Clearstream and Euroclear Bank that it says will transform the way broker-dealers manage their collateral, freeing up precious resources as onerous new regulations in the US and Europe burden banks with tougher collateral requirements.
JP Morgan has begun rollout of its new multi-asset class trading platform, JP Morgan Markets, which the firm says will make it easier for clients to bring together different elements such as research and analytics and convert them into successful trades.
The recent market data glitch on US consolidated tape C, in which investors were unable to view Nasdaq-listed stocks, highlights the need for regulation on resilience, according to Frederic Ponzo, managing partner at capital markets consultancy GreySpark Partners.
As the European Commission prepares new rules that will reform Europe’s capital markets, buy-side market participants must be careful to ensure that they are not misunderstood and even side-lined by politicians in Brussels, warns David Morgan, director for trading and client connectivity, capital markets at financial technology provider SunGard.
Global investment banks need to stop focusing on easy opportunities and start innovating, according to a new report by US business consultancy AlixPartners – even if that means unbundling services and embracing smaller financial institutions as allies.
Data users wanting to use Reuters Instrument Codes to access data carried on consolidated data feeds from other information providers will be able to do so following the resolution of a European Commission investigation into whether Thomson Reuters was abusing its monopoly position.
