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CME Group and Google Cloud have been in partnership since 2021, with recent work having been made to enhance CME Group’s cloud-based data platform and migration of critical clearing applications to the cloud. Over the last three to four years significant investments have been made, and long-term partnerships forged across the market.
Baugh is an industry stalwart, having worked in the financialmarkets for over 25 years. His team provides opinions and insights into shifting regulation and market structure, illustrating how these changes directly affect day-to-day business.
Industry Person of the Year 2024 shortlist: James Baugh, managing director, head of European market structure, TD Cowen James Baugh is an industry stalwart, having worked in the financialmarkets for over 25 years.
A divergence at the macro level … A couple of years ago, I was working with some colleagues and our research team on our Capital Markets Vision 2025 report. We were keen to develop some insights into the evolving landscape of financialmarket infrastructure. Looking at those numbers, a significant macro divergence leapt out.
The Quantile transaction, first announced in 2021, was set to help the derivatives offering run more smoothly. LSEG acquired data and analytics giant, Refinitiv in a $27 billion blockbuster deal back in January 2021 following almost 18 months of deliberations.
Thriving US Middle Market Fundraising and Resilient Private Equity Regarding Global M&A Private Equity Trends, looking at the positive news, the US middle-market fundraising landscape remained stable throughout 2022, with 156 funds closing at an aggregate value of $133.5 billion, similar to the figures seen in 2020 and 2021.
Our latest whitepaper – the largest since its inception in 2021 – focuses on the next frontier for the industry which is the growing applicability of technologies. Okan Pekin, head of securities services at Citi, said: “The move to T+1 has taken centre stage in the post-trade industry over the last few years.
And that is exactly what happened when I watched Dumb Money , the movie about the GameStop short squeeze in 2021 , the other day. I wrote about the GameStop short squeeze back when it happened in February 2021, and it turned into the most popular article of the year. I wrote many articles about it.
Prior to joining State Street in 2021, she previously served for more than 17 years at UBS across Zurich, London and Singapore and at Credit Suisse. Prior to joining LCH, Robinson held roles within JP Morgan’s investment banking and asset management divisions and the Commonwealth Bank of Australia’s financialmarkets division.
David Tamburelli, global head of content acquisition at Bloomberg, highlighted how important BSE is within Chinese financialmarkets and praised the progress it has facilitated through increased transparency of operations and contributing to the increase in the number of listed companies and supporting data.
Euronext Clearing is now the pan-European clearing house for Euronext cash markets and with the move is set to foster a unified European financialmarket and ecosystem.
The PRA specifically cited “significant failures in risk management and governance between 1 January 2020 and 31 March 2021, in connection with the Firms’ exposures to Archegos Capital Management”. The default of Archegos Capital Management, a $10 billion family office founded by renowned New York investor Bill Hwang, occurred in March 2021.
According to data from ESMA, fails peaked at around 12% of total settlement instructions in May/June 2021, and again spiked following the introduction of CSDR’s Settlement Discipline Regime in February 2022, which introduced penalties for late or failed trades. On social media however, some experts questioned the consistency of the data.
SVB’s deposits grew from ~$62 billion at the end of 2019 to $173 billion at the end of 2022, and its loan-to-deposit ratio went completely out of whack: Tech startups were flush with cash due to a ridiculous fundraising environment in 2020 – 2021, and they put the money they raised in the bank. to back them.
The shift of liquidity itself As providers continue with their committed goal of creating a better and healthier future across the financial services industry, it remains an often-unspoken truth that the market in the end needs to develop as one, with each faction committed to playing their parts. Subsequently, liquidity follows.
In a letter to ESMA, the Association for FinancialMarkets in Europe (AFME) was against the immediate shift to T+0, stating: “We emphasise that we do not consider a default T+0 settlement cycle for securities transactions to be a realistic or desirable near-term policy objective.”
The buy-side are “aware and worried” as the US shift to T+1 looms closer and the testing phase begins globally, a panel held by the Association for FinancialMarkets in Europe (AFME) has said. Panellists raised concerns over FX, settlement fails, and potential regulatory hurdles during the webinar held by AFME on 27 June.
There has been a recognition that there needs to be a balance between reducing those costs but also remaining vigilant to ensure that the quality of issuers coming to market is maintained. An additional factor that gives us a flavour for where regulators are looking at when it comes to trying to foster European financialmarkets is T+1.
And sitting on its global trading desks are a pod of traders known for their ability to interact with some of the most inaccessible financialmarkets around the world. Gibson is a seasoned trader with an extensive career in markets. We’re talking circa 50% in both their currencies this year.
Over the past two decades, several critical financialmarket regulations have been implemented globally, particularly in response to the 2008 Global Financial Crisis (GFC). The years following 2008’s GFC experienced continued financial regulatory reform.
Beginning his career in 1990 as an FX dealer at Bank of America in Sydney, Grady has spent almost four decades working in financialmarkets across the globe. Nominated by several buy-side peers for the Lifetime Achievement Award, Grady has a strong history of contributing to industry discussion and development.
The current plan is the Capital Markets Union (CMU): a flagship initiative designed to boost investment, enhance access to finance, enable cross-border investment, and reduce the fragmentation of Europe’s financialmarkets. Sounds great, right?
So, 2025 will see more heated debate, and perhaps some real progress, towards the alignment and streamlining of regulation in an attempt to remove barriers to growth and improve the efficiency of financialmarkets. Europe cannot achieve competitiveness without embracing competition.
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