Thomson Reuters has added foreign exchange trading capabilities for corporate treasurers to its financial markets desktop Thomson Reuters Eikon, linking it to FXall QuickTrade, a request for stream service.
Regulations aimed at transparency across financial markets may be making things simpler for the regulators, but they are making life more complex for banks, according to Sven Ludwig, senior vice president, risk management and analytics EMEA, at SunGard.
South Africa’s Johannesburg Stock Exchange is moving its derivatives and fixed income markets onto Millennium Exchange, the trading platform it bought from the London Stock Exchange when it moved its equities market earlier this year.
Five years on from the Dodd-Frank Act being signed into law in the US, a number of outstanding issues for derivatives reform need to be resolved, according to a new paper by the International Swaps and Derivatives Association.
Technology is equipping non-bank market-makers to move into the US Treasury Market, giving them analytics and speed to manage and hedge risk, while enhancing market liquidity. “Market makers have been deploying electronic tools at varying degrees over the past decade,” says Anthony Perrotta, a principal and head of fixed income research at Tabb Group, author […]
Boat Services now supports the post trade publication of Russian OTC trading, by including stocks listed on the Moscow Exchange. The addition covers more than 300 Russian security instruments, including common and preferred stocks.
ICAP has become the first UK institution to implement a range of enterprise data governance systems from Oracle, replacing a legacy process involving manual spreadsheet maintenance and frequent e-mail exchanges.
Post-trade market infrastructure the Depository Trust & Clearing Corporation has launched a new centralised data provisioning service, DTCC Data Products and expanded its exchange traded funds and ISO 20022 corporate actions data offerings.
BBVA Group has entered a multi-year agreement with Broadridge Financial Solutions) for a post-trade managed service to support its institutional fixed income business in the US. Under the agreement, Broadridge will provide an integrated managed service to support fixed income and repurchase agreement processing, international clearance and settlement and investor communications services
Target2-Securities, the European Central Bank project to harmonise Europe’s post trade infrastructure, has finally gone live after nine years of preparation. Italy’s Monte Titoli was not part of the first wave.
US post-trade utility the DTCC has issued a series of recommendations on global data harmonisation, beginning with credit derivatives, as part of a grand push to harmonise 30 data fields across global trade repository providers and create a global data dictionary.
Eleven financial associations have published their support for a new set of derivatives reporting standards developed by ISDA, which is calling for greater cross-border harmonisation of data standards – even if that means some national laws will have to be amended.
TABB Group forecasts global compliance spending among capital markets firms will some increase 7.5% to 8% in 2015, reaching $2.592 billion , and growing at a similar pace for 2016, driven by global regulations that require institutions to expand coverage, enhance existing capabilities and standardise compliance solutions and processes.
Clearing costs at Nasdaq’s new NFX futures venue will be half those on rival CME, the exchange claims. NFX is due to launch later this summer.
As the European Commission’s MiFID II legislation moved towards implementation of technical standards, some of Europe’s national regulators are seriously worried that mandatory open access to CCPs may not be such a good idea. Concerns about the ability to manage risk and the ability to effectively handle data were highlighted by speakers at the IDX FIA conference in London yesterday.
Swift has formally launched a new business intelligence solution for securities market participants following the completion of an early adopter programme. Watch for Securities is “ready for full scale use” by local and global custodians, investment banks, asset managers and broker/dealers, allowing them to monitor and gain business insights from their network traffic.
The Shanghai-Hong Kong Stock Connect link has made significant in-roads in the opening of China’s capital markets to international trading but barriers to participation, including restricted trading strategies, introduce risk and create operational complexity. The long-term success of the venture hinges on removing these barriers, according to a study carried out for the DTCC.
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
Global regulators are struggling to find the balance between recognising each other’s existence and learning to harmonise and coordinate their activities, and protecting domestic national economic stability. But people who can’t accept that there will be some differences in regulation between Asia, Europe and the US are not realistic, according to Timothy Massad, chairman of the Commodity Futures Trading Commission.
Citi has launched Futures trading functionality on Citi Velocity, the trading platform which provides clients with access to Citi’s research and liquidity across FX, Rates and Credit. Launched in January 2012, Velocity 2.0 is continuously upgraded to include new features and asset classes. It provides clients with an integrated trading suite enabling fastest possible execution […]
Treasury and capital markets software specialist Calypso Technology has developed “an industrialised blueprint for reducing complexity and cost in banks”. The Calypso Bank-in-a-Box was developed in collaboration with a group of global banks to consolidate and document their processes and systems in the face of market and regulatory changes.
MCO Europe, exclusive distributor of the McObject high performance database financial markets in the UK and Europe, is raising investment through Crowdcube, the UK’s largest crowdfunding site, to fund growth and expansion. McObject’s eXtremeDB Financial Edition high-performance database is used for trading and risk management by banks, fund managers, brokers and data vendors.
Deutsche Börse plans a joint venture with the Shanghai Stock Exchange and China Financial Futures Exchange to develop and market Chinese-based financial instruments to investors outside mainland China.
The UK’s Financial Conduct Authority’s study into competition in investment and corporate banking will focus on choice, transparency, bundling and cross-subsidisation in debt and equity capital markets, mergers and acquisitions and acquisition financing. It will also consider links between competition in these primary market services and related activities such as corporate lending and broking, and ancillary services.
Three-quarters of market participants use the FIX protocol for confirmation and affirmation of their transactions, according to a new survey released by financial industry standards body the FIX Trading Community.
The International Swaps and Derivatives Association has launched UTIPrefix.org, a service that enables counterparties to obtain a unique trade identifier (UTI) prefix for derivatives trade reporting.
US post-trade utility the DTCC is reporting that almost half of the respondents in its most recent Systemic Risk Barometer Study cited cyber security as their top concern, making it the single largest fear and doubling its rating compared to just 12 months ago.
A decade ago, one of the driving factors behind outsourcing was reducing cost and headcount. However, with the growing regulatory and compliance burden, firms are increasingly becoming more cautious about outsourcing.
Boat Services, the OTC trade reporting service provider owned by technology vendor Cinnober, plans to introduce a MiFID II compliance solution, offering publication services for all instrument classes. It will apply for authorisation by the FCA in the UK when Approved Publication Arrangement registration is available in 2016.
IG Group has launched a trading app for the Apple Watch, which it says is one of the first of its kind. The Apple Watch is due to be released on 24 April.
The International Swaps and Derivatives Association has published a set of derivatives trading principles, which are part of an effort to get regulators around the world to harmonise their efforts at derivatives market standardisation. The principles include a call for greater flexibility on US swap execution facilities.
Russian investment banking firm BCS Financial Group says using IBM Commerce to create and manage personalised marketing campaigns has increased cross sales of its online trading, brokerage, and investment strategy consulting services have increased by 20% in six months.
Hotspot, the institutional foreign exchange market owned and operated by BATS Global Markets, is to expand its European presence with the launch of its first Europe-based FX matching engine later this year. The new matching engine will be located in the London Slough Campus data centres and will target Europe and Asia and specific FX currencies that dominate the European and Asian trading hours.
The UK should lead the development of an EU Capital Markets Union because of its better-established markets, according to a report from a House of Lords committee published today.
Financial market regulations across the globe are increasingly focusing on risk management. This includes ensuring it is clear who firms are trading with and for, and confirming that firms can identify the instruments being traded. As a result, the field of reference data is increasingly held under the regulatory microscope and that lens extends to the standards used to identify financial instruments, writes Chris Pickles.
A new US bond trading venue with a mission to help electronify fixed income markets for investors using experience gained in the equity markets is preparing to launch in the US this quarter. Called OpenBondX, the venue was Created by former Lime Brokerage chief executive Alistair Brown and former colleagues, OpenBondX is an ‘all to all’ system open to the buy-side and the sell-side.
Deutsche Börse, Eurex and the Bombay Stock Exchange have further extended their strategic cooperation offering connectivity services. Participants of BSE will be able to use Deutsche Börse’s resilient low latency N7 network services to connect to BSE back-ends in India through the Deutsche Börse access points in Hong Kong and Singapore.
A three-party alliance between alternative FX market LMAX Exchange, retail FX provider Z.com Trade and retail FX trading platform MT4 have built a combined liquidity pool, which aims to provide ‘last look’ liquidity to a wider market.
The European Securities and Markets Association is consulting financial institutions on which messaging protocol and data formats would be best for trade reporting under MiFIR. As the timeframe for reporting comes ever closer to real-time, the consequences could be serious.
SIA, in partnership with Colt, has been awarded the contract to connect Hungarian central securities depository Keler to T2S, the new single European platform for the settlement of transactions in domestic and cross-border securities.
