Industry veteran Tom Dalglish has joined SmartStream Technologies as head of transformation services, managing post-trade processing and data management projects for global clients. Initially he will be responsible for managing the back-office transformation programme at an unnamed European bank.
Most capital markets firms are still not using big data and even those that do often lack a concerted strategy, according to a new report commissioned by Thomson Reuters.
The rising volume of market data is comparable to the Cambrian Explosion in which the number of species on Earth dramatically increased around 542 million years ago. Banks will have to adjust to this deluge of data if they are to keep pace with aggressive new competitors.
New intraday liquidity reporting tools set out by the Basel Committee on Banking Supervision could pose a serious challenge for banks, according to a new white paper by Swift.
It is often said that market data in Europe is too expensive, but it would be unfair to blame that solely on the exchanges, according to Christiane Baumgarten, vice president, market data and services at Deutsche Börse (right). With the consolidated tape mandated by MiFID II due by 2016, market data is at the centre of the European Commission’s plans for a better trading environment in Europe.
Trading technology specialist Cinnober has big plans for BOAT, the trade reporting service it acquired from Markit on 1 July – including new asset classes, a new focus on banks and brokers, and a renewed push at data quality.
Bloomberg Vault has introduced File Analytics, a hybrid cloud-based service that enables firms to “identify, categorise, track and manage” unstructured data held in corporate files and documents.
Depending on who you speak to, the definition of a data scientist seems to mean different things to different people. Some see it as a glorified number crunching role, others believe the position requires someone more inquisitive to spot and respond to key trends.
The explosion of data in the securities and capital markets industry – more than 30% CAGR – is rapidly becoming a problem for market participants and managing that challenge will require a disciplined approach to the development of new data architectures.
One company grateful for the flurry of publicity given to the practice of front-running orders by the publication of Michael Lewis’s book Flash Boys earlier this year is New York-based Trillium, whose Surveyor market manipulation detection tool can be used to detect the practice.
Tullett Prebon has launched an aggregated swap data repositories data feed for the interest rate swaps market, aiming to increase price transparency in accordance with the Dodd-Frank Act.
Despite promises of change heralded by the European Commission’s upcoming MiFID II, the cost of market data in Europe is still far too high and transparency remains a serious problem, according to senior financial industry executives. Yet the arrival of the Market Model Typology standard earlier this year may provide a catalyst for change.
Shifting settlement cycles, the rise of big data, global regulation and increasing demand for post-trade services are creating both challenges and opportunities that global exchanges would do well to face wisely, according to Lars Ottersgard, head of market technology and Eva Saidac, head of business development market technology at Nasdaq OMX.
Dutch bank ING has installed an enterprise data sharing solution for its fixed income traders in Amsterdam , which the bank’s head of fixed income trading likened to a “whiteboard in the sky”.
Citi has launched a new set of trading features and transaction cost analysis tools on its Citi Futures and Options Execution platform, which it says will help clients to gain clarity from their futures clearing merchants.
Nasdaq OMX has launched a new business intelligence service called MiQ, which it says will help its regional exchange, clearinghouse and CSD customers to better understand liquidity, market movements, performance and business opportunities.
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.
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.
Citi has launched an electronic block pricing tool via the Bloomberg App Portal, marking the first time a major tier one broker has ever used the Portal to deploy an application around the world.
The European Commission’s MiFID II legislation has produced a disappointing outcome for those hoping for a consolidated tape of post-trade data, while exchanges continue to bear the brunt of participants’ anger over the price of market data.
New regulations requiring financial institutions to increase the amount of data fields they have on their customer records and swingeing fines imposed when processes and data are found to be inadequate have triggered an increased focus on data governance.
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.
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 […]
Europe doesn’t need more trading venues – instead, it needs more innovation, more fairness, more competition and better enforcement, according to panellists speaking at the Trade Tech conference in Paris.
What is the latest technological snag affecting high-speed trading performance? In a word, jitter – a major risk, particularly when carrying out arbitrage.
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.
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.
A new post-trade monitoring system will allow French broker Newedge to better manage its risk exposure from its Asian direct market access platform.
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.
MasterCard has partnered with mobile technology specialist Syniverse under an audacious plan that aims at nothing less than “bringing mobile financial services to every single mobile user on the planet”.
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.
Vienna’s Raiffeisen Bank International is to centralise reconciliation across six of its regional subsidiaries, in a move it says will lead to better automation and more efficient processing.
What do taxis, the weather, mobile wallets and raincoats have in common? They are all potential variables in determining a person’s daily spend – and they provide a great opportunity for banks to use data to save customers money, according to Aman Narain, global head of digital banking Singapore at Standard Chartered.
Etrali Trading Solutions has rolled out its mobile voice recording service in Japan, allowing financial institutions to meet FSA regulations in the country. Etrali’s solution is SIM-based, and is already being used in Europe and the US.
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.
As data volumes continue to grow, being able to make greater use of the information enhances competitive advantage. The financial services industry is taking steps towards using predictive analytics technology to do just that.
Europe’s trade repositories have reported a largely smooth transition, following the deadline under EMIR on 12 February – but behind the scenes deep questions remain about the viability of the European Commission’s ambitious derivatives reform.
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.
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?
Switzerland’s SIX Financial Information has begun delivering FATCA tax information to the US Inland Revenue Service, ahead of the controversial extraterritorial tax’s reporting deadline in July.
