Senior market participants have expressed outrage that exchanges continue to charge high fees for market data, while MTFs still lack the means to compete on auctions and are not represented on international indices.
2012 seemed like the year of regulators taking a prolonged look at computer trading – defining what it might be, its potential effects, why it may be problematic. It is still far from clear that we have answers to these fundamental questions.
Speed is becoming less of a competitive advantage for exchanges as regulation and the need to support long-term investors comes to the fore, according to Christian Katz, chief executive at SIX Swiss Exchange.
Bank deleveraging may inadvertently spur a revival of equity markets, Antonio Zoido, chairman and chief executive at Spanish exchange group BME told delegates at the World Exchange Congress in London yesterday.
Emerging markets Brazil, India and Turkey took the spotlight at yesterday’s World Exchange Congress event in London, as senior executives highlighted rising technological investment, growing competition and successful index performance.
As new rules for the reporting of OTC derivatives draw closer around the globe, US post-trade services utility the DTCC is positioning itself as the provider of a global network of trade repositories – but OTC derivatives reform will only work if consistent measures are taken everywhere, says Stewart Macbeth, president and chief executive at the DTCC.
Regulatory data collection tools have been refined, standardised identifiers nearly constructed and more frequent and granular reporting rolled into regulation. Now that regulators have this mass of data, what is the next step in linking it and putting it to use?
Market data and technology company Activ Financial has expanded its risk gateway tool to cover all Canadian exchanges, ahead of new rules that will require market participants in Canada to have pre-trade risk controls in place across all asset classes from next month.
Russian asset manager Alfa Capital has implemented SDX, SuperDerivatives real-time cross-asset front office system, for its structured products business.
HSBC and Barclays have begun trading Singapore-listed stocks on the London Stock Exchange, using the LSE’s newly-created international board.
The Taiwan Futures Exchange is to list futures and options on German derivatives exchange Eurex, following an agreement between the two bourses to make it easier for international investors to access each other’s markets round the clock.
Euroclear Bank has begun clearing and settlement for Russian ruble-denominated OFZ government bonds – a market worth US$100 billion, according to figures provided by Baring Asset Management.
Next month, the European Commission’s EMIR regulation on the central clearing and reporting of OTC derivatives is due to take effect in Germany. Investment managers Insight Investment and OFI Asset Management have begun clearing OTC derivatives on Eurex via its new service, EurexOTC Clear.
The National Bank of Abu Dhabi is strengthening the resilience of its internal technology as it seeks to embrace mobile and expand its coverage beyond the United Arab Emirates.
Indian exchange MCX Stock Exchange has set a date to begin trading in equity derivatives, in a move that opens up a new front in the competition between India’s dominant BSE and NSE exchanges.
As Asian markets continue to lure international investors, participants on Japan’s new Exchange will now be able to get market access and algorithmic trading tools from data and analytics company S&P Capital IQ, which has chosen to locate itself at KVH’s datacentre in Tokyo.
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”.
Russia’s central securities depository NSD is to get a complete business intelligence overhaul through a joint project with consultancy Optima Group. The deal should help bolster NSD as one of the key pieces in the government’s strategy to turn Moscow into an international financial centre.
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”.
Seven innovative start-up companies have been chosen to take part in a major new London-based project that aims to bolster advanced technologies in financial services. The seven firms will participate in a twelve-week programme in which they will gain support from the major banks and gather interest from venture capitalists and investors.
Flawed decisions taken by machines are causing financial services firms to lose customers and suffer unexpected costs, according to new report by the Economist Intelligence unit. Yet retail banks are increasingly turning to technology to assess customers.
Four out of five financial institutions are not ready for new regulations governing the trading, reporting and clearing of OTC derivatives, according to a new survey by US communications company IPC.
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.
Online investment bank Saxo Bank has opened an office in Istanbul, Turkey, following its acquisition of local broker Değer Menkul Değerler in May last year.
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.
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.
Former Liquidnet Europe head John Barker is to take up a new role at Russian financial services firm BCS Financial Group, Banking Technology has learned.
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.
As job cuts continue to bite at some of the world’s largest banks and financial institutions, new figures from Bloomberg Industries reveal the scale of the cull driven by lacklustre macroeconomic performance in Europe, a declining stock market and tightening financial regulation.
Cambodia’s Acleda Bank has embarked on a massive programme of expansion in a bid to reach unbanked customers in the country, drawing on core banking technology provided by Swiss banking software company Temenos.
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.
Investors looking to trade in Russia can now take advantage of a new high-speed route from Frankfurt to Moscow, built by technology and connectivity provider TMX Atrium. The idea behind the new link is to provide access for clients that need low-latency access to the Russian market, which currently represents the world’s sixth largest economy, […]
European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.
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.
