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In a role reversal, Xalts, a Singapore fintech startup founded 18 months ago, has acquired Contour Network, a digital trade platform set up by eight major banks including HSBC, Standard Chartered and BNP.
Deutsche Bank has chosen the London Stock Exchange Groups Trade Discovery compliance solution as it seeks to meet increasingly rigorous regulatory demands. Namely, accurate and comprehensive data specifically regarding cross-asset class financial instruments traded in regulated and over-the-counter (OTC) markets.
The Central Bank of Kenya has launched Bloomberg’s Electronic Matching System (EMS), BMatch, for interbank trading in the local foreign exchange market. These orders are displayed and subsequently matched with counterparty orders “based on mutual trading limits and other parameters configured by each bank”.
RULEMATCH, a new crypto trading venue, serves banks and securities firms which are already active in the crypto market has launched, offering a combination of integrated, post-trade settlement and ultra-low latency for participants including hedge funds and high frequency traders.
ABN AMRO Clearing, IMC, Standard Chartered Bank and Virtu Financial have been named as strategic partners for GFO-X ahead of its launch in Q1 2025. GFO-X is the UKs first regulated and centrally cleared trading venue dedicated to digital asset derivatives.
HSBC has executed a Hong Kong dollar repo transaction with the Bank of East Asia (BEA), which used Hong Kong government digitally native green bonds as collateral for financing purposes. According to the bank, this was the largest digital bond issuance globally, alongside being the first multi-currency digital bond issuance.
TD Securities has appointed Rob Fallon as director of sales trading, based in Dublin. Fallon joins the firm from Deutsche Numis, where he spent the last two years, most recently serving as director of sales trading. Earlier in his career, Fallon held a money market derivatives operations role at Deutsche Bank.
Deutsche Brse Xetra has further expanded its retail offering with a new ETF trading service. Transaction fees for retail executions have been reduced by Xetra, subject to the investor’s bank or broker participating in the service. The service applies to all Xetra trading in equities, ETFs and ETPs.
The North Carolina-based company reported a surge in third-quarter investment banking and trading income, which rose nearly 80% from the year-ago quarter.
The stock market is in the early stages of a period of rising retail investor activity, and that could bode well for Robinhood, according to Bank of America.
Euronext’s dealer to client trading platform MTS BondVision has secured the contract to supply the European Central Bank (ECB) with electronic trading platforms for euro-denominated bonds. MTS BondVision covers rates, credit and repo.
In the dynamic realm of the financial markets, the introduction of technology has proven to be a catalyst for transformative change, overhauling existing trading strategies. Among the wide range of advancements, algorithmic trading has revolutionised how financial instruments are bought and sold.
Autonomous, the financial services research business division within Bernstein, has appointed two new US bank analysts. Ken Usdin has been appointed co-head of the Autonomous US business, covering large-cap banks alongside Dwight Collins, who heads the research business US sales team.
Specifically, LoopFX’s ‘peer-to-bank’ matching engine technology is set to be embedded into Portware to allow FactSet clients to access the offering directly in the existing workflow on the desk. The post FactSet FX trading platform to integrate LoopFX appeared first on The TRADE.
Investec Bank is set to launch a new electronic trading platform aimed at facilitating low-touch equity trading, The TRADE can reveal. Investecs market expertise spans the UK and South Africa, and trades in 64 markets from these two regions.
JP Morgan Chase & Co has been issued with almost $350 million worth of fines and civil money penalties for inadequacies in its firm and client trade reporting program between 2014 and 2023. These gaps and deficiencies in JPMC’s trade surveillance program constitute unsafe or unsound banking practices,” the watchdog said in a statement.
The required skillsets on a buy-side FX trading desk are undergoing significant transformation due to technological advancements. Traditional skills, while still essential, are increasingly supplemented by a robust understanding of data analytics, algorithmic trading and technological tools.
Zakria Hussain has left Crédit Agricole, where she was most recently global head of eFX spot trading, to join Nomura Group’s digital assets subsidiary Laser Digital as head of OTC trading. The post Crédit Agricole head of eFX spot trading departs for Nomura’s Laser Digital appeared first on The TRADE.
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
Fintech giant FIS has acquired SaaS post-trade platform Torstone Technology, according to multiple sources close to the matter. Some of its major recent mandates include a 10-year agreement to provide post-trade technology to BNP Paribas and $1.5
We need to take a step back and look at today’s trading desk. By dissecting a trading desk into its functions, processes, and tasks, it becomes clear that 80% or more can be successfully automated with today’s technology – and that figure is just for the front-office, potentially even higher in the middle- and back-office.
Repo is increasingly no longer just a bank topic anymore, said experts speaking at a closed Deutsche Boerse roundtable on Tuesday. Robbert Booij The asset class is increasingly becoming a buy-side topic said experts as end clients are voluntarily joining the cleared repo environment, viewing it as a neat instrument to facilitate trading.
Leveraged loan trading revenue topped $900 million in 2023, up 16% from 2021 and 29% from 2022, a new report from Coalition Greenwich has found. Execution quality was the key priority when choosing a dealer counterparty, with 48% of buy-side leveraged loan trading volume allocated to dealers based on the execution quality.
We expect a continued shift of trading activity to more traditional, regulated exchanges and venues. In November, CME overtook Binance as the leading exchange from an open interest perspective on the bitcoin futures contract. Tokenisation has been a key narrative over the last 12 months, and we expect more of the same from banks in 2024. On
CobaltFX has launched an alternative post-trade messaging service to reduce risk in FX and combat the lack of competition in the market. According to Andy Coyne, founder of CobaltFX, a Single Point of Failure (SPoF) in FX post-trade messaging – created by market consolidation – poses a threat to the entire global financial ecosystem.
The largest investment banks globally have continually increased investment in technology over the last few years, with technology now accounting for 20% of these banks’ overall expenditure, a Coalition Greenwich report has found. Elsewhere, the report addressed the changing revenues of these banks in recent years.
Citi Treasury and Trade Solutions (TTS) has developed a new digital asset solutions service aimed at institutional clients for cash management and trade finance, called Citi Token Services. On a 24/7 basis, Citi Token Services will provide users cross-border payments, liquidity, and automated trade finance solutions.
More than three quarters of surveyed prop trading firms confirmed said volatility trading strategies had out-performed other markets last year, according to a new report from Acuiti. Around a third of surveyed firms which are not currently trading volatility products confirmed their intention to do so going forward.
The TRADE is delighted to announce the shortlisted nominees for the Industry Person of the Year Award 2024. The winner will be decided by a live industry vote at The TRADE’s Leaders in Trading gala awards night on 7 November at The Savoy. Congratulations to this year’s shortlisted nominees!
Since bottoming in late October 2023, the "money center" banks reporting this week have outperformed the S&P 500 by an average of nearly 15%. Can this outperformance continue?
Commerzbank has moved to simplify and streamline its cross-asset trading with a migration onto Murex’s MX.3 The bank has migrated its foreign exchange, commodities, derivatives, and equities onto the platform in a bid to simplify risk and trading. 3 platform.
The evolution of the FX swaps market is at an important turning point, with many participants looking to electronify and optimise what has traditionally been traded on an RFQ or RFS basis, as well as demanding much greater price transparency. As As the FX swaps market grows, we expect to see regional bankstrade more FX swaps.
Foreign banks with well-established electronic platforms have been able to provide liquidity in spot and forward instruments. Local participants are less familiar with trading USD/PEN electronically which gives a large space to improve traded volumes and the number of participants.
I never expected to revisit the topic of bulge bracket banks so quickly because the full list changes slowly, and we updated it a few years ago. What is a “Bulge Bracket Bank”? The name “bulge bracket” (BB) comes from the prospectus for an IPO or debt issuance, which lists all the banks underwriting the deal.
The watchdog also charged the bank with “failing to supervise” the head of its US Treasuries trading desk who allegedly made “hundreds” of illegal trades over that period. Mark Cave, associate director in the SEC’s division of enforcement, said: “Manipulative and deceptive trading undermines the integrity of our markets.
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