Western investment firms looking to trade in Asia Pacific should not rely on algorithms that have been ported from the US or Europe, according to William Capuzzi, president of trading technology company ConvergEx’s global execution business – instead, they should adopt dedicated tools built from the ground up.
JP Morgan has begun rollout of its new multi-asset class trading platform, JP Morgan Markets, which the firm says will make it easier for clients to bring together different elements such as research and analytics and convert them into successful trades.
The recent market data glitch on US consolidated tape C, in which investors were unable to view Nasdaq-listed stocks, highlights the need for regulation on resilience, according to Frederic Ponzo, managing partner at capital markets consultancy GreySpark Partners.
As the European Commission prepares new rules that will reform Europe’s capital markets, buy-side market participants must be careful to ensure that they are not misunderstood and even side-lined by politicians in Brussels, warns David Morgan, director for trading and client connectivity, capital markets at financial technology provider SunGard.
New regulations that will affect how banks run crossing networks for their buy-side clients should avoid constraining investor choice by forcing a ‘one-size-fits-all’ approach to trading, according to Miranda Mizen, senior consultant at TABB Group.
Global investment banks need to stop focusing on easy opportunities and start innovating, according to a new report by US business consultancy AlixPartners – even if that means unbundling services and embracing smaller financial institutions as allies.
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.
Further clarification on the European Union’s Alternative Investment Fund Managers’ Directive, due to come into force in July next year, has been welcomed by the Alternative Investment Management Association, the global hedge fund association.
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.
The European Parliament has voted to approve the introduction of a financial transaction tax across 11 EU member states including France, Germany and Italy – but market participants warn that it may have unintended consequences.
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.
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.
