Moscow Exchange has opened its new cleared OTC derivatives market, marking a major step towards Russia’s G20 commitments. But some observers still have doubts about Russia’s reputation as an investment destination.
A surprisingly high proportion of US banks are still not prepared to comply with Dodd-Frank’s regulations on swaps, despite the impending arrival of mandatory trading on swap execution facilities, according to Charley Rich, vice president of product management at tech firm Nastel.
Swift has completed network acceptance testing for its connectivity service for T2S, the EU project to reform Europe’s post-trade infrastructure.
Sell-side only block trading network Squawker has completed its pan-European rollout, connecting 70 sell-side firms to the new venue, which promises ‘algorithm-free’ trading in 13 European countries.
Nasdaq OMX is planning to launch a test facility for algo trading early next year. The Algo Test Facility will be developed jointly with Thesys Technologies, a subsidiary of Tradeworx,
Trading firms need to upgrade their technology as often as every three months or face getting left behind by the ferocious pace of competition, according to specialists behind the HFT industry’s breakneck expansion into the world’s emerging markets and untamed asset classes.
Financial information services company Markit is aiming to create the largest financial markets messaging community and remove barriers to cross-market communication through its open messaging initiative and supporting technology, Markit Collaboration Services.
A new tool designed to help banks and their clients gain a decisive trading advantage over their rivals based on Twitter posts has been launched by UK-based fin tech firm Eagle Alpha.
The European Commission has expressed concerns that the US government shutdown is preventing a deal between the EU and US regulator, just as new swaps rules come into force for firms based both inside and outside the US.
Trading infrastructure provider TMX Atrium has released a set of options for trading Russia through its connection to Frankfurt’s Equinix FR2 IBX data centre and the Moscow Exchange – a move designed to shepherd customers as rival providers stake out their own claims to the Russian market.
Most emerging Asian countries have developed or are developing their own CCPs and trade repositories in response to global reforms of OTC derivatives markets – but proliferation of CCPs is a concern, according to new research by analyst firm Celent.
Eurex clearing, the post-trade arm of Germany’s Eurex derivatives exchange, is to act as the clearing house for new securities borrowing and lending venue SL-x Trading Europe when it launches in Q4 this year.
The complexity of corporate actions has stymied automation efforts for more than a decade. But there could be light at the end of the tunnel …
Momentum is building behind the European Central Bank’s (ECB’s) Target2-Securities (T2S) settlement platform. With the ECB confirming the platform will be delivered on time, further proof of the industry’s confidence in the initiative has come via a series of announcements regarding connectivity to T2S.
With implementation of Europe’s Target2-Securities beginning in 2015, financial institutions are still defining their strategies and business models. Some questions remain to be answered.
South African central securities depository Strate and Belgium’s Euroclear are planning a new collaboration to make South Africa’s mutual fund transactions more electronic –including the creation of a centrally hosted mutual fund settlement and custody platform.
Germany’s Commerzbank and Benelux-based Clearstream are planning to launch a new service designed to help customers in the G20 nations gear up for central clearing of OTC derivatives.
Russian broker BCS Prime Brokerage plans to install a new pre-trade risk system called TripleCheck, which it says will help it to meet tough new regulations on algorithmic and proprietary trading.
Italian banking group Instituto Centrale Banche Popolare Italiane has introduced a new trading and recording system across its Milan operations, which it says will help it to better keep up with changing regulation and offer a better service for its traders.
Created in April 2013, Turkey’s new Borsa Istanbul exchange is at the heart of an ambitious project to turn Istanbul into a major global trading centre. With the country’s economy ascendant, Turkey has a lot to offer, according to Ali Çöplü, chief information officer of Borsa İstanbul.
A three-hour trading crash at Nasdaq OMX caused by a connectivity issue has once again put the spotlight on trading technology and the resilience of financial markets, which have been sorely tested in recent months and years.
Financial industry analysts have warned that investors should be careful about how they approach automated trading, following news that a trading error at Goldman Sachs lost the firm $100 million on Tuesday.
A fragmented data architecture can threaten a financial institution’s ability to keep track of its assets. All too often, front office systems are separated into individual asset classes and lines of business, making the integration of the transaction flows from these systems very difficult.
Most debates about High Performance Computing in financial services quickly turn into conversations about high frequency trading, but there are many more reasons for getting the best of out of systems. Electronics and computer technology have always been pushing the boundaries of smaller, faster, cheaper (or at least, ‘more affordable’) and financial services firms have always been quick to take advantage of the latest advances.
As the world’s banks continue to struggle with severe regulatory change, economic turbulence and technological evolution, a new report by analyst firm Tabb Group says that financial institutions will have to provide immediate, friction-free access to content, community and execution, or face extinction.
Financial services firms in Japan are taking early steps to prepare for new rules on OTC derivatives, according to a new survey carried out by fintech company Calypso in Tokyo.
An international derivatives market called Global Markets Exchange Group International has been launched by co-founders Hirander Misra and Vj Angelo, in a bid to target new business opportunities created by changing financial regulation.
As the Moscow Exchange launches a new liquidity incentive promotion, Sergey Sinkevich, head of DMA at Russian broker Otkritie, argues that Russia’s move to adopt T+2 settlement is the most important development in the last 20 years for the country’s capital markets.
Bloomberg has received approval to launch a Swap Execution Facility, ahead of the compliance deadline for new US Dodd-Frank rules for clearing of OTC derivatives.
New research shows that large businesses are continuing to identify risk management and corporate governance as pressing financial priorities. To achieve true visibility into these areas, corporate treasurers need detailed insight and accurate forecasting capabilities.
Ukraine’s UniCredit ‘Ukrsotsbank’ has chosen US technology firm Fiserv to provide its Integrated Currency Manager tool, which the bank will use to improve its supply chain management and make better use of its available resources.
Argentina’s Caja de Valores central securities depository has chosen the London Stock Exchange to be its technology provider, as the depository gears up to support the country’s new Bolsa & Mercados Argentinos exchange.
For firms who remember MiFID I, and those that don’t, round two is almost upon us. This month, the Council of the EU agreed their general approach, meaning that the draft of MiFID II/MiFIR is free to advance to the European Parliament. If all goes according to the current plan, the new combined legislation will be with us in time for 2015 implementation.
Financial technology company SIA has acquired Italian telecoms firm Emmecom, as part of a plan to create a new technology infrastructure across Europe for merchants and banks.
US post-trade utility the DTCC has agreed to acquire post-trade specialist firm Omgeo, in a deal that it says will help improve collaboration between investment managers, broker-dealers and custodian banks and reduce risk for market participants.
Securities trading in France, the Netherlands and Belgium is to move to T+2 settlement in October 2014, following a decision by Euroclear to pre-empt Europe-wide settlement reforms.
A group of Chilean banks working on a new CCP for OTC derivatives have chosen Calypso technology to help build its core clearing platform, in an initiative that highlights Latin America’s efforts to match G20 financial sector reforms.
At a passionate debate in Westminster this week MPs, led by Rushanara Ali, member for Bethnal Green & Bow, called for government action in the wake of Barclay’s recent decision to close accounts for a large number of small payments businesses in the remittances sector.
With lots of different regulatory benchmark efforts now underway, the industry could be forgiven for not taking a common stance. With IOSCO issuing final principles, ESMA and the EBA are simultaneously consulting on a European set of principles. Meanwhile the UK is moving ahead with its own reforms.
On 23 April 2013, the markets suffered a brief, sharp drop as algorithms reacted to “news” from the Associated Press’s Twitter handle that President Obama had been injured in a bombing attack at the White House. In a few minutes, the Dow Jones dropped 145 points, Standard & Poor’s 500 Index lost $136 billion in […]
