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Single-stock trading and program trading in US equities are becoming increasingly interlinked, as advances in algorithmic trading blur the lines between the two. Between workflow innovation and good old-fashion inflation, the definition of program trading itself is now in flux. constituents.
Likewise, rather than using long-dated FX forwards of up to a year or two, many fund managers chose to lock in rates of up to six months or less to add an extra layer of flexibility and nimbleness should the market move against them. Whether volatility will significantly increase again in 2024 is somewhat beside the point.
Simon Gallagher, chief executive, London and head of global sales, Euronext We think that the introduction of an anonymised, single-level pre- and post-trade consolidated tape will trigger innovations at trading venues. We see the entire post-trade space becoming more and more of a platform business. But we are seeing changes.
Michael Peters At a recent roundtable, Deutsche Börse Group derivatives exchange, Eurex, shared its plan to harmonise onto one riskmanagement infrastructure over the next two years. Almost a decade ago, back in 2014, Eurex clearing was a leading innovator when it came to real-time riskmanagement.
The London Stock Exchange (LSEG) saw overall growth across its key businesses in 2023, with considerable improvement across data and analytics, capital markets, and in particular, post-trade. LSEG labelled 2023 an “outstanding” year for post-trade, having seen significant strategic progress. rise year-on-year as compared to 2022.
Portfolio trading as a concept has exploded in the last few years, egged on by market conditions and volatility brought on by the pandemic and other macroeconomic factors. However, whether or not all firms are able to monetise the tool by managingrisk effectively in today’s environment, is up for debate.
Kerim Acanal, global head of emerging markets, Tradeweb The request-for-market (RFM) protocol will continue to be the next frontier for electronic trading in emerging markets. In today’s ever-changing financial landscape, RFM allows clients to not reveal the direction of the trade, therefore minimising the footprint of their transaction.
Blue Ocean Technologies (BOT) and Members Exchange (MEMX), have entered a technology partnership in which the latter’s market-as-a-service trading system will operate the Blue Ocean ATS global trading platform. Last year, BOT continued to expand globally with a focus on extending its trading model in Asia-Pacific.
The desk has been focused on equipping itself with advanced data analytics to enable traders to make more data-driven decisions related to pricing and riskmanagement, and to utilise this data to make us more relevant to our clients based on client insights analysis.
The annual Leaders i n Trading gala is the most distinguished awards night for the trading community. Among the most coveted awards categories is the Editors’ Choice Awards and today we bring you the 2023 nominees for Outstanding Post-Trade Services Provider.
Trading Technologies International (TT) has unveiled two new dedicated business lines, TT Compliance and TT Quantitative Trading Solutions (QTS), to fuel growth for 2024 across asset classes.
The first three recommendations focus on enhancing liquidity riskmanagement practices and governance. FSB’s report highlights the critical balance between margin and collateral calls as necessary riskmanagement measures and their potential to amplify liquidity demand during periods of stress.
Ivan Brown The exchange operator said the new venue will align with the needs of options industry participants and tackle riskmanagement challenges in the market. The post IEX firms up launch date for new options exchange appeared first on The TRADE.
Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for the Outstanding Market Data Provider category, shining a light on those displaying recent excellence in the data sphere.
Cboe Global Markets has announced new options on Cboe Volatility Index (VIX) futures which are expected to begin trading on Cboe Futures Exchange (CFE) on 14 October. Catherine Clay, global head of derivatives at Cboe The new options on VIX futures will offer investors an additional tool to help manage US equity market volatility.
October 16, 2024 – Solganick & Co. (“Solganick”) has published its latest M&A update on the Cybersecurity industry sector. It covers the latest mergers and acquisitions deal announcements, valuations, public company data, and other trends announced in Q3 2024.
A key contributing factor for banks and investors clearing more than previously is the increasing cost of trading derivatives OTC as a result of uncleared margin rules. Reducing counterparty risk for swaps contracts is a no-brainer. Bilateral exposure to another counterparty can last years. to just over £2.6 to just over £2.6
January 15, 2025 – Solganick has issued its latest mergers and acquisitions (M&A) update for the Cybersecurity industry sector, covering Q4 2024 and a 2025 outlook. Financial buyers were significantly more active in Q4 2024 over the previous quarter (13 versus 3), a healthy rebound from recent levels.
One counterparty defaulting could pass risk on to another party, this in turn could have a cascading effect on liquidity across the market. In addition, currently, the Fixed Income Clearing Corporation (FICC) is indirectly exposed if one of its members makes a trade with a non-member and subsequently defaults on the transaction.
What are your expectations for 2024? Also, clients are becoming a bit more choosy as to where they want to trade. There’s a huge amount of platforms out there and what we’re seeing over the last few years is concentration of volume amongst the leading platforms and we think that will continue in 2024.
Robbert Booij is set to take over as chief executive of Eurex Frankfurt AG, effective from 1 July 2024, succeeding Michael Peters in the role. Eurex is a global derivatives powerhouse, both in trading and clearing,” said Booij. “I The post Eurex names ex-ABN AMRO Clearing Bank chief exec as new CEO appeared first on The TRADE.
Exchange and clearing house operator Cboe Global Markets is planning to introduce a central counterparty (CCP) clearing service for securities financing transactions (SFT) in Q3 2024. The post Cboe Clear Europe to introduce clearing service for securities financing transactions appeared first on The TRADE.
The Securities and Exchange Commission (SEC) is in the process of introducing noteworthy rule changes to the clearing of fixed income securities, a development which is set to reshape the landscape for fixed income trading. For trading desks, the new rules will result in a range of operational and regulatory shifts.
This means that having pre-trade transparency on funding costs, clearing fees, collateral schedules and initial margin becomes an important part in deciding what your implementation looks like as well as potentially impacting counterparty selection. How can TCA be best leveraged when trading equity derivatives?
Lastly, firms are urged to assess the potential benefits of third-party services in improving non-centrally cleared variation margin processes, considering their capabilities and ensuring proper riskmanagement for outsourced services.
Overall, CME, ICE and Eurex posted solid quarterly results, driven in large part by the demonstrably positive correlation between an uncertain macroeconomic backdrop and riskmanagement opportunities. Speaking to this, Jeffrey C.
The DTCC launched a similar service in the US recently, and much like its counterparts across the Atlantic, Cboe said it expects “to help to bring improved capital efficiencies, enhanced riskmanagement and streamlined operational procedures to this market”.
Over that time, I have traded and managedtrading businesses across most products in fixed income and foreign exchange. I have also worked on different types of trading desks ranging from full-franchise to proprietary trading. This can be addressed via regular and consistent analysis of client request/trading data.
As trading of these assets has become easier and market conditions are predicted to fall in line, the industry has seen a swathe of new EM-focused hires, increased attention paid to developing markets’ performance, and enhanced offerings from providers. “EM is a mosaic of sub-asset classes rather than a unified universe.
“Year-to-date, we’re seeing for the first time in many years a notable uptick in new fund launches and spin outs from bigger places,” says Jack Seibald, managing director, co-head of Marex prime services and outsourced trading. in April 2023, to 92% in 2024. They are now trading in all these other asset classes.
The importance of these rules can be linked to the reshaping of the regulatory environment and ultimately creating a more robust trading environment and promoting investor confidence. In a wider sense, Basel III impacted financial market by promoting greater stability, resilience, and riskmanagement within the banking sector.
If we look ahead to capital markets over the next two decades, the future of trading infrastructure will be built on a fabric of interconnected markets with a common data architecture, seamless connectivity throughout the ecosystem of exchanges and participants, minimal latency, and advanced AI-powered tooling.
Hayley McDowell, EU equity electronic sales trader and market structure consultant, RBC In 2025, we will see momentum in European dark trading continue to build. CBOE, Nasdaq and Aquis are launching between Q4 2024 and Q1 2025. Euronext introduced their dark book in Q2 2024, enabling clients to trade at mid-point in the dark.
Lisa Danino-Lewis, chief growth officer, CLS In 2024, weve witnessed a continuation in the buy-sides emphasis on adhering to best practices for mitigating settlement risk to meet regulatory expectations and to ensure robust riskmanagement practices.
Jim Kaye, Executive Director at the FIX Trading Community Next year will be the year of preparation. One of the key challenges facing firms is the need for faster and more accurate trade matching. Under the current T+2 cycle, discrepancies in trade details can often be resolved with minimal impact.
European derivatives exchange Eurex is set to launch futures contracts on EU issued bonds, with trading scheduled to begin on 10 September 2025. The move builds on conversations between Eurex and market participants and the EU Commission and follows the addition of the EU commission to Eurex repo as a trading member in 2024.
The TRADE is thrilled to announce that Natasha Cocksedge has joined the team as a reporter, effective 7 April. Annabel Smith, editor of The TRADE, said: Im delighted to welcome Natasha to our editorial team. Previous experience also includes stints reporting for: The Londoners, ENDS Report, and The Farnham Herald.
This latest development builds on SimCorp’s existing collaboration with LSEG Data and Analytics for market and reference data, established in 2024, allowing for improved access to LSEG data across the investment platform SimCorp One. The post SimCorp and Yield Book partner on analytics suite integration appeared first on The TRADE.
How has the trading of ETFs evolved and what role are market structure changes having in this evolution? Market structure changes, particularly regulatory reforms like Mifid I and, more specifically for ETFs, Mifid II, have significantly reshaped the European ETF trading landscape. LSE, NYSE, NASDAQ, etc.),
Simon Dove, managing director, head of liquidity at Instinet Incorporated As we bid farewell to 2024, we are left with many questions about the dawn of 2025, a year that promises to be a game-changer. We will likely witness further regulatory divergence between the UK and the EU. helping bring this to life.
Listening to our customers has led us to innovations such as periodic auctions, securities financing transactions clearing, and VWAP trajectory crossing all market-led solutions that deliver improved trading performance, better riskmanagement and greater capital and operational efficiencies.
Bruno Lettich, global head of rates trading, Standard Chartered and Thomas Kikis and global co-head, corporate sales and head of markets, US and Americas, Standard Chartered The coming change in US administration will see a front-loaded agenda of policy change in 2025.
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