ICAP’s new London SEF targets OTC derivatives
ICAP has launched a swap execution facility in the UK, as part of a push to dominate both the European and the US OTC derivatives markets as they are brought under new regulation.
ICAP has launched a swap execution facility in the UK, as part of a push to dominate both the European and the US OTC derivatives markets as they are brought under new regulation.
The capital markets industry continues to be amongst the top data driven industries. Electronic trading generates millions of market messages during a given day. With diminishing returns in high-frequency trading, focus has shifted from high-speed trading to looking for patterns in large volumes of market data for financial information and use cases.
Swift’s Innotribe Startup Challenge has named the five European finalists for its annual competition, which seeks to find the best new companies in financial services and bring them to compete in the final at Sibos Boston in October.
The introduction of a financial transaction tax could mean London losing a swathe of banking business to financial centres with a lighter regulatory regime, such as Hong Kong or Singapore not to mention the logistical and technical challenges for banks.
US clearing body the Depository Trust & Clearing Corporation is pushing a move to shorten the settlement cycle for the US markets to T+2, claiming support from industry bodies and firms including JP Morgan.
Broker ICAP will use high-frequency trading infrastructure from specialist Perseus Telecom as it seeks to expand its coverage across Brazil and Latin America. ICAP is already active in the region, where it connects to São Paulo and Mexico City. The Perseus LiquidPath service provides connectivity, hosting, consulting, and real time monitoring, and includes HFT services […]
One of the central characters featured in Michael Lewis’ controversial book Flash Boys, has added fuel to the fire of debate over high frequency trading by claiming that in a market with less HFT, average order sizes would get larger and long-term investors would benefit.
When the requirement brought about by the German high frequency trading act to tag algorithms comes into force this month, market participants may well feel hamstrung by the complexity of the regime – and some might wonder whether this requirement goes one step too far …
Trading firms are still struggling with the Dodd-Frank requirement for certain swaps to be traded on registered Swap Execution Facilities. According to a survey conducted by trading communications vendor IPC Systems, 60% of survey respondents said the industry as a whole was behind on meeting the deadlines on SEF trading, though only 39% said their […]
Consolidation of market infrastructure in Europe will continue, as firms choose post-trade service providers that meet their needs in terms of cost-effectiveness or value-added services. However, some of the real cost issues in Europe are still to be addressed.
Despite the deep controversy created by Michael Lewis’ expose of HFT Flash Boys, global equity markets are not broken, according to a senior capital markets panel at Trade Tech Paris 2014.
Banks should be wary of jumping the gun and assuming that SEPA implementation is a done deal. Far from being over, the task of learning to live with SEPA is just beginning.
FX trading service EBS has launched Watch EBS, a new mobile app that is designed to show users the global spot FX market in as close to real time as possible.
What is the latest technological snag affecting high-speed trading performance? In a word, jitter – a major risk, particularly when carrying out arbitrage.
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.
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.
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.
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.
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.
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.
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.
IntercontinentalExchange has revealed further details of its plans for Liffe, following its acquisition of NYSE Euronext in November.
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.