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An old story in modern times. Duncan Mavin's pretty darn good book on Greensill

Bronte Capital

One of the stories of the financial crisis is that the bankers that ran big institutions, who had billions entrusted to them, and who projected the air of masters of the universe were in fact buffoons incompetent at anything other than organising their own bonus. I recommend Duncan's book. And not in 2017. Really - buy it.

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TNS extends access to all US equity options exchanges

The TRADE

Transaction Network Services (TNS) is set to expand access to US equity options with connectivity and market data support for the recently launched MIAX Sapphire Options Exchange. Tom Lazenga, general manager, TNS Financial Markets The move comes as part of TNS’ commitment to comprehensive coverage of the US listed options marketplace.

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China Minsheng Bank enhances market-making capabilities through adoption of Bloomberg sell-side solutions

The TRADE

As China’s financial markets continue to open up, China Minsheng Bank is committed to strengthening ties and communications with foreign investors and enhancing our market-making capabilities,” said Qingyu Wang, head of financial markets department at China Minsheng Bank.

Bank 64
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LSEG sees double-digit growth across post-trade as exchange continues to reap benefits of acquisition push

The TRADE

Our post-trade business is in the early phase of its next stage of growth, helping financial institutions manage risk and improve capital efficiency across the whole trading book.” In capital markets, the 6.1% LSEG labelled 2023 an “outstanding” year for post-trade, having seen significant strategic progress.

Trading 113
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Fragmentation and regulatory complexity pegged as main hurdles to European ETF growth

The TRADE

There’s only top book data value attribution and obviously the time scale is still really vague.” Such developments, he argued, will continue to promote growth within this segment of financial markets, helping bring everything together more efficiently.

Trading 78
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European Parliament’s approval of Mifid/Mifir revisions a starting gun for change

The TRADE

Adam Farkas, chief executive of AFME made clear that today’s vote by the European Parliament, though welcome, lacks ambition, asserting: “As the 2019-2024 EU legislative cycle concludes, new and pressing challenges have emerged including strained public finances, demographic shifts and an estimated annual transition investment of EUR 700 billion.

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T+1 settlement: The biggest FX shake up in decades

The TRADE

Will FX markets also change to T+1 e.g., EUR-USD and USD-DKK? We also have some system limitations on how fast trades can be booked as they go through post-trade compliance. On large volume days it can take an hour to book trades after US close.” “Will they be able to handle T+0 in CLS?

Trading 69