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The Cloud is increasingly the primary choice of deployment for post-trade workloads and trading, a new Nasdaq paper has found, with market readiness one of the factors driving the adoption.
The shift to T+1 in the US can largely be described as a success – affirmation rates remain comfortably high, fail rates have stayed reasonably low and FX trades don’t appear to have shifted to bilateral settlement as feared. Depending on the day of the week or the settlement cycle used it’ll be more expensive to trade.”
What are the costs associated with opening a North American FX trading desk? One trader for full-time responsibilities, and a backup for BCP (Business Continuity Planning) purposes or holidays, etc. Each trader will need a terminal depending on the trading platform being used, which carries a considerable cost.
The current timeline for the UK appears to include a plan being put in place in 2025 with the implementation of a T+1 settlement cycle in UK occurring no later than 31 December 2027. When we proposed the rule in February 2022, only about two-thirds (68%) of transactions were being affirmed on trade day.
Companies That Issue Reliable/Predictable Dividends as a Business Policy – Many oil & gas transportation companies are like this, as are power/utility companies with regional monopolies on essential services like electricity and water.
In one of the most high-profile examples of this increased scrutiny, the US Federal Trade Commission (FTC) attempted to block Horizon Therapeutics’ $29.3 Deal momentum in the AI space was one of the main talking points for cross-border dealmaking in 2023, with some estimates projecting the overall market size will reach $407 billion by 2027.
Stephane Boujnah The trading venue saw full year revenue and income up 10% from 2023, totalling 1,627 billion. Overall trading revenue contributed towards this, growing 14% year-on-year to 559 million, driven by strong results within its fixed income and FX divisions, as well as solid growth in cash trading revenue.
Jim Kaye, Executive Director at the FIX Trading Community Next year will be the year of preparation. Market participants readiness for key milestones, like the anticipated go-live of the European consolidated tape (CTP) in 2025 or the transition to T+1 settlement in the UK/EU in 2027, will be critical to ensure long-term success.
A shrinking number of brokers are accounting for over half of trading activity in Europe, a new report by Coalition Greenwich has found. Around 20% of trading activity is executed with the top broker, while 60% is executed with the top five brokers, Coalition Greenwich has suggested.
This is driven by an overarching business imperative but with increased impetus driven by regulations such as DORA. These regulations emphasise resiliency, prompting businesses to seek solutions that bolster internal operations and ensure the stability of third-party providers.
I think it’s similar to 2024 to some extent, the main challenges are going to be political and macroeconomic uncertainties and how that will impact traders trading strategy. Financial products are different in EM than in developed markets where products are more electronic, with more high frequency trading, etc.
As the industry moves towards a consolidated tape and the looming T+1 deadline, established players will likely continue positioning themselves to expand their market share or protect their existing trading, data, and technology businesses. European firms need to start preparing while learning from their US peers.
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