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.
A week before the final reporting deadline for the European Commission’s EMIR regulation, tech firms are making a last push to get OTC trade reporting up and running.
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.
Post-trade services company Traiana plans to connect to four trade repositories in preparation for the European Commission’s EMIR legislation, which requires trade reporting and clearing of OTC derivatives.
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.
Reforms to the way derivatives trade in the US and Europe are causing a conflict between consumer desire for bespoke solutions and regulatory attempts at standardisation – and the self-inflicted panic as the deadline approaches indicates the cost may be too high, according to a panel of senior capital markets representatives speaking at an event organised by the Futures and Options Association in London on Tuesday.
IntercontinentalExchange has revealed further details of its plans for Liffe, following its acquisition of NYSE Euronext in November.
Germany’s Commerzbank has just signed up to Regis-TR, the European trade repository owned by German CSD Clearstream and Spanish CSD Iberclear, as part of the bank’s drive to ready itself for the EMIR legislation on OTC derivatives reporting.
Italian CSD Monte Titoli will connect to T2S via Colt and SIA, rather than via Swift, as the two companies vie for business ahead of the June 2015 go live date.
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.
Sapient Global Markets has launched a close of business reporting service that it says will help capital and commodity markets trading firms to meet regulation at lower cost.
The group of banks holding a controlling interest in SIA, the Italian payments processor and systems developer, have reduced their ownership in a sale to a consortium of investment funds led by Fondo Strategico Italiano.
Euroclear UK and Ireland is planning to shorten its settlement cycle to T+2 from October next year, bringing its operations into line with clearing in Germany and Russia, which already operate T+2.
Standard Chartered and Agricultural Bank of China have launched renminbi-denominated clearing services in the UK in a deal that reflects the ongoing internationalisation of the currency.
Bank algos may superficially appear to be well-tested – but the process may be open to any number of unexpected flaws, according to Steve Wilcockson, industry manager at big data specialist firm MathWorks.
Enlightened buy-side firms are facing the challenges of high-touch regulation, fragmented liquidity and ongoing cost pressures head on and developing new business models and approaches at every stage of their workflow.
Fintech vendor Volante Technologies has launched its T2S Accelerator, which is designed to help financial services firms to prepare for the T2S settlement platform.
Regulators should consider carefully the implications of their actions, and not be too hasty to censure or restrict trading activity on dark pools, according to a report released by analyst firm Celent this week. The findings have been supported by senior financial services executives at Fidessa, who have called for investor choice to be maintained.
IntercontinentalExchange is to acquire Singapore Mercantile Exchange, including the venue’s clearing house, in a deal that will give it a foothold in Asia for the first time. SMX offers futures for metals, currencies, energy and agricultural commodities.
Market participants need to be sure they understand how their collateral is being handled. They also need to make sure they are ready for EMIR, according to financial executives at the Mondo Visione Exchange Forum this week.
The wisdom of emerging market exchange deals was a subject of controversy at the Mondo Visione exchange forum in London on Wednesday, with some participants lambasting such deals as “not worth the air miles they were written on”. Others had a more positive view.
Large exchange groups face a backlash from businesses trying to raise capital if they do not change to address this part of their function, leading to the emergence of private equity markets and more political interference and protectionism.
The European Commission has rejected a request from the European Securities and Markets Authority to delay the reporting of exchange traded derivatives, with the effect that all derivatives trades will have to be reported to registered trade repositories from 12 February next year.
ICAP and Interactive Data Corporation have begun a collaboration aimed at making pre-trade price information more easily available for institutional investors and risk managers.
Commodity traders are rapidly adopting new analytics tools to help, testing how a combination of powerful cloud-based processing systems and increasingly sophisticated analytics tools can boost their bottom line.
To prepare for the overhaul to settlement in Europe, financial institutions need to face up to T2S and work closely with their settlement service providers to ensure that they maximise the business benefits. It’s time to seize the opportunities presented by the T2S initiative.
Portugal’s Caixa Geral de Depositos bank is planning to grow its trading business in Brazil, using a hosted service provided by SunGard.
