Low frequency trading
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”.
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”.
Technical problems at Nasdaq and BATS have reinforced the impression among many market observers that there may be something seriously wrong with equity market structure. Recent history reads like a catalogue of disaster for many of the world’s most prominent trading venues.
As new rules for the central clearing of OTC derivatives loom ever larger on the horizon in both Europe and the US, technology is helping to make the transition easier – but the kind of contracts being traded may well change, according to CME Group.
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”.
UK Prime Minister David Cameron gave a speech earlier this week in which he promised to hold a referendum on UK membership of the EU by 2018, if he is re-elected. The speech reflects pressures not just in the Conservative party, but fundamental differences in Europe as a whole over how to approach financial markets and the wider economy.
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.
The newly created East Africa Exchange, which is currently taking its first steps in Rwanda, is part of a regional integration project between Burundi, Kenya, Tanzania and Uganda that aims to boost liquidity and provide a commodities market for 130 million people across the region.
Hong Kong Exchanges and Clearing has improved its connectivity to the outside world, through a deal with low-latency specialist Telstra Global at its new data centre at Tseung Kwan O.
Too many brokers are still using outdated methods such as email and telephone to confirm trade matches, undermining the advantages gleaned from high-performance trading technology, according to a new study by financial research firm Aite Group.
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.
The upcoming IPO of Russia’s Moscow Exchange on its own bourse is just one step in a titanic effort to transform Russia’s capital markets and attract attention from international investors – and it may not be the most important one, according to Serge Alexandre, electronic trading services at Russian broker Otkritie.
Squawker, the start-up block trading venue headed by Christopher Gregory, has moved one step closer to its goal of providing a pan-European mid-point matching service for banks and brokers, following a deal between it and Switzerland’s SIX Financial Information this week.
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.
The London Stock Exchange Group has entered a partnership with Peru’s Lima Stock Exchange, in which the LSEG will provide trading and smart order routing technology to Peru.
Proposals in Germany that would affect the country’s capital market structure could create problems of regulatory arbitrage when the European Commission’s MiFID II arrives in 2015-16, according to Mark Spanbroek, general secretary at the FIA European Principal Traders Association.
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.
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.
A heated argument that erupted between panellists at an event in London yesterday signals deep divides in Europe over the role that financial regulators should take as France and Germany introduce their own national rules.
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.
Market participants have expressed support for controversial new proposals in Germany to control high-frequency trading, including a requirement to obtain a licence or stop trading.
Online trading service DCM Capital has released a trading platform with a social media sentiment feed, allowing traders to incorporate information from channels such as twitter and Facebook into their trading decisions.
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.
BNY Mellon is planning to open a new issuer central securities depository that it claims will offer market participants more efficient post-trade services.
UK technology company Celoxica has launched a new futures trading platform, which it says will make automated trading strategies even faster and more efficient.
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.
Alternative investment management firm Man Group has gone live with Swift’s Global Electronic Trade Confirmation messaging service, and successfully confirmed its first trades with Morgan Stanley using the Cor Financial Salerio post-trade management service.
Brokers are being forced to consider novel approaches to doing business – including outsourcing of areas that have been previously seen as core – as they struggle to work out viable economic models for their products and services.
Swiss market operator SIX is to expand its post-trade infrastructure in Scandinavia with the acquisition of Oslo Clearing, a subsidiary of the Oslo Børs, for NOK180 million (£19.8 million).
The unit is authorised to act as a central counterparty in Norway and currently clears derivatives and securities lending products. It will become will be part of SIX Securities Services.
Like Apple under Steve Jobs, Bloomberg has a long-held reputation for being a ‘closed’ sort of company, reluctant to compromise its products or its ways of working.
Capital markets participants are increasingly turning to combined execution and order management systems that include tools for algorithmic and basket trading strategies in multiple asset classes, according to a new report by consultancy GreySpark Partners.
The Singapore Exchange has stepped up its efforts to connect to international market participants, with a deal between itself and German derivatives exchange Eurex that will allow traders in Europe to access the Singapore market more easily.
Market participants trying to clear OTC derivatives under new European trading rules will soon be able to use a service from CSD Euroclear and clearinghouse CME Clearing Europe that promises to make the job easier.
BNP Paribas Securities Services is planning to offer a post-trade service for banks and brokers that want to take advantage of the new cross-trade deal between the London Stock Exchange and the Singapore Exchange.
Despite delays and arguments over migration, the European Central Bank’s T2S project to improve Europe’s post-trade infrastructure is now back on track, according to senior industry participants.