The TRADE

MAY 20, 2024

When accessing retail liquidity, we would check the usual sources as for any trade, including agency broker block flows, broker indications of interest, which brokers have traded volume recently, and any potential to trade stock on risk. Currently what are the most common approaches when accessing retail liquidity?

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The TRADE

JANUARY 30, 2024

Electronic trading platforms captured almost a third (32%) of overall Canadian equity trading volume in 2023, with this share expected to rise in the next three years, a new report by Coalition Greenwich has found. As a result, electronic and/or algorithmic trading has seen usage increase.

Equities 80

Equities Trading Electronics Asset Management 80

The TRADE

MAY 9, 2024

With additional presence in Mexico, Cicada has built an all-to-all electronic alternative trading system (ATS) allowing institutional buy- and sell-side participants to trade Mexican government fixed income securities without the need of a pre-existing trading relationship.

Trading 69

Trading Investment Electronics Government 69

The TRADE

JANUARY 23, 2024

His appointment comes as GTN continues its expansion efforts to build a comprehensive electronic trading and investment platform. GTN serves brokers, banks, asset managers, and fintech clients. Omar Darwish has joined fintech pioneer GTN as equity sales trader following a three-and-a-half-year stint at Arqaam Capital.

Sale 105

Sale Equities Asset Management Capital 105

The TRADE

MAY 20, 2024

Kepler Cheuvreux’s head of market structure and liquidity solutions has left the broker dealer, The TRADE can reveal. He joined the broker dealer in 2016 as its head of portfolio and electronic sales trading, later assuming his most recent role as head of market structure and liquidity solutions in 2022.

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Broker Trading Electronics Sale 52

The TRADE

JUNE 26, 2024

Former head of market structure and liquidity solutions at broker dealer Kepler Cheuvreux Byron Griffin is set to join Franco-German financial services firm ODDO BHF, The TRADE can reveal. Griffin left Kepler in May after over eight years with the broker dealer. He joins as head of execution sales and microstructure.

Trading 52

Trading Broker Sale Financial Services 52

The TRADE

FEBRUARY 14, 2024

Agency broker BTIG has selected the former head of execution strategy at Millennium to take up the same role. In his new role, he will also co-head electronic trading and be responsible for the development of BTIG’s new generation algorithms.

Electronics 52

Electronics Trading Broker Portfolio 52

The TRADE

DECEMBER 4, 2023

Albon has been appointed associate director, senior sales for EMEA electronic trading and program trading, set to join the firm in February next year, The TRADE can reveal. She will report to global head of electronic trading and distribution, Jason Rand. Kepler Cheuvreux and Berenberg declined to comment.

Electronics 64

Electronics Trading Sale Broker 64

The TRADE

JUNE 20, 2023

Bloomberg has introduced a white label solution for US treasuries, allowing a wide range of broker dealers to provide liquidity for trades initiated on its platform as part of its D&I dealer initiative. The offering – which has been expanded to include US treasuries – is used by investment managers and bond dealers as a pool of liquidity.

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Broker Trading Electronics Boutique 64

The TRADE

DECEMBER 8, 2023

Instead, a combination of rising interest rates, inflation, soaring energy prices and geopolitical tensions have hit hedge funds, and subsequently the risk management practices of prime brokers. Elsewhere, other local regulatory changes and benchmark replacements continue to impact prime brokers.

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Broker Asset Management Trading Funds 113

The TRADE

APRIL 26, 2024

Head of execution strategy and an electronic sales trader at Liberum are set to up sticks to join Investec, The TRADE can reveal. Dom Lowres and Matt West Dom Lowres, head of execution strategy, and Matthew West, electronic sales trader, are set to join the firm in the coming months to set up a new low touch electronic desk.

Sale 52

Sale Electronics Trading Equities 52

The TRADE

JULY 1, 2024

Former head of market structure and liquidity solutions at broker dealer Kepler Cheuvreux Byron Griffin is set to join Franco-German financial services firm ODDO BHF. Griffin left Kepler in May after over eight years with the broker dealer. He joins as head of execution sales and microstructure.

Bank 64

Bank Banking Sale Trading 64

The TRADE

JANUARY 18, 2024

Following the announcement from MIAX last October about plans to launch a new US options electronic exchange and physical trading floor, The TRADE wanted to delve into why open outcry has persisted and the potential for a quiet resurgence of the dying practice. There’s often much, much more liquidity behind those on-screen prices.

Trading 130

Trading Electronics S&P IT 130

The TRADE

NOVEMBER 3, 2023

Next up in our introduction to the distinguished nominees for the Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist the Best Broker Electronic Trading Initiative. Jefferies Jefferies Electronic Trading (JET) offers algorithmic strategies and program trading across Europe, the US and Asia.

Electronics 52

Electronics Trading Broker IT 52

The TRADE

MAY 24, 2024

That is something that the mid and smaller brokers can access relative to the bulge bracket who don’t really see that as an important USP for the business right now. We all know it is very cheap and easy to trade electronically but you’re not necessarily fulfilling your liquidity obligations.

Bulge Bracket 52

Bulge Bracket Electronics Retail Trading 52

The TRADE

SEPTEMBER 4, 2023

These include Sell-Side Market Structure Excellence (to recognise those firms most dedicated to supporting their clients through the ever-shifting regulatory landscape), Best Broker Electronic Trading Initiative (to reward those sell-side desks most committed to developing their electronic offering to meet client demand) and Best Innovation at the (..)

Trading 52

Trading Electronics Broker Collaboration 52

The TRADE

DECEMBER 15, 2023

There was a recent case regarding short selling, where we had a certain interpretation of the short selling rule, commonly accepted among market participants, and we consulted with our brokers and the regulators to check that they agreed with that interpretation. The problem with that approach is that it tends to alienate.

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Broker Trading Stock Consulting 105

Sun Acquisitions

AUGUST 2, 2022

Sun Acquisitions is pleased to announce the closing of three Buy-Side campaigns in the last two months including an industrial pumps distributor, specialty electronics distributor, and a waste management firm. Sun Acquisitions’ clients were both private and publicly held companies which acquired domestic and international targets.

Acquisitions 98

Acquisitions Mergers and Acquisitions Advisory Middle Market 98

The TRADE

SEPTEMBER 7, 2023

“Interdealer FX Swaps trading has stayed largely manual due to the current market structure and use of voice brokers, but increased regulation, better technology access via the cloud, and the need for transparency are driving change towards a more electronic market, while trading volumes continue to increase.”

Trading 59

Trading Risk Management Electronics Broker 59

The TRADE

JULY 26, 2023

Emerging markets broker Arqaam Capital has launched a new proprietary trading infrastructure tool, ArqNET, aimed at enabling European institutional clients to trade faster in Middle East and North Africa (MENA) markets.

Proprietary Trading 52

Proprietary Trading Trading Capital Electronics 52

The TRADE

MARCH 18, 2024

XplorTrade will offer brokers flexibility in tailoring visual and functional aspects of the platform to meet specific user experience objectives. As part of the deal, GCEX clients gained access to Crossover’s execution-only crypto electronic communication network (ECN), with GCEX providing brokerage and liquidity services on the platform.

Trading 69

Trading Electronics Broker Management 69

The TRADE

DECEMBER 28, 2023

In 2024, interdealer trading of FX swaps, which has traditionally been dominated by the broker market, will start to migrate to electronic venues. 360T  360T and LSEG offer electronic interdealer FX swaps trading venues, and many other marketplaces are looking into establishing new and additional venues.

Trading 111

Trading Funds Risk Management Management 111

The TRADE

JANUARY 23, 2024

Interdealer broker BGC Group has received approval from the Commodity Futures Trading Commission (CFTC) for its FMX Futures Exchange to operate as an exchange for US Treasury and SOFR futures. It has a clearing services agreement with LCH, offering an integrated trading and clearing solution.

Trading 64

Trading Electronics Broker Shares 64

The TRADE

AUGUST 2, 2023

One of BCS Global Markets’ prime services sales leads has left the investment bank to join boutique merging markets broker and investment bank BancTrust. Grigoriy Kozin has been appointed head of business development, prime services and electronic execution at BancTrust after three years in his role at BCS.

Boutique 52

Boutique Sale Bank Banking 52

The TRADE

SEPTEMBER 25, 2023

UK-based investment bank Peel Hunt appointed former head of electronic and program trading and sales at Numis Securities, Nishad Vallonthaiel, to head up its own electronic trading division. Also appointed to the electronic trading team at Peel Hunt alongside Vallonthaiel is Vinesh Chhaya, who joins the unit as a senior sales trader.

Trading 64

Trading Sale Electronics Bank 64

The TRADE

JULY 3, 2023

Alongside him, Torsten Schöneborn joined the bank from BNP Paribas where he had been global head of electronic platform and global head of quant prime broking. Before that, he spent almost 10 years at Deutsche Bank, where his roles included global co-head of electronic equities and head of eFX spot quant trading.

Trading 64

Trading Investment Banking Bank Banking 64

The TRADE

AUGUST 15, 2023

Trading, portfolio and risk management solutions provider TS Imagine has added CLSA’s AI-powered European algo suite to its list of certified brokers. TS Imagine’s TradeSmart features pre-certified connections to more than 250 listed brokers and venues, as well as broker algos.

Broker 52

Broker Trading Risk Management Investment Manager 52

The TRADE

AUGUST 9, 2024

It’s extremely important that the trading desks are also in tune with the analytics to ensure efficient onwards processes like liaising with brokers on their trading performance. Drilling deeper into brokers’ venue choices has also become imperative to analyse on the buy-side. Can the use of TCA in fixed income mirror equities?

Investors 52

Investors Trading Broker Equities 52

The TRADE

SEPTEMBER 22, 2023

Goldman was found to be lacking in its processes for verifying the accuracy of its electronic blue sheet submissions. The SEC stated today that it found Goldman “willfully violated the broker-dealer recordkeeping and reporting provisions of the federal securities laws”.

Trading 59

Trading Electronics Broker Securities 59

The TRADE

NOVEMBER 29, 2023

Armando Diaz, chief executive of PureStream The ATS claims to provider brokers and their institutional clients with improved bandwidth in order to access liquidity faster, more cost-effectively and with greater security. PureStream is exclusively available to broker dealers and does not connect directly with the buy-side.

Trading 64

Trading Retail Broker Electronics 64

The TRADE

NOVEMBER 15, 2023

Stephen Murphy, chief executive and co-founder of Genesis Global, said: “Built in only two months, the FLEX-FA platform demonstrates that trading operations for even the most bespoke financial products can migrate from spreadsheets and manual processes to modern, enterprise quality solutions which benefit brokers, market makers and end users, alike.”

Trading 59

Trading Electronics Broker Management 59

The TRADE

OCTOBER 13, 2023

Deutsche Bank has completed the acquisition of institutional broker Numis and has unveiled a new offering to be known as ‘Deutsche Numis’. We are proud to introduce Deutsche Numis as a leading corporate broker in the UK and we look forward to working with Alex, Ross and the rest of the team.”

Bank 59

Bank Banking Acquisitions Investment Banking 59

The TRADE

OCTOBER 2, 2023

RBC appointed two former Credit Suisse senior algorithmic trading individuals to join its low touch electronic sales and trading team. Electronic market maker Optiver selected Philippe Rizzo to join its institutional sales team, effective from 9 October.

Asset Management 64

Asset Management Management Sale Capital Market 64

The TRADE

DECEMBER 11, 2023

Albon has been appointed associate director, senior sales for EMEA electronic trading and program trading, set to join the firm in February next year. She will report to global head of electronic trading and distribution, Jason Rand. Previously in her career, she spent three and a half years as a cash equity broker at Tullett Prebon.

Trading 64

Trading Sale Electronics Financial Institution 64

The TRADE

SEPTEMBER 19, 2023

The news follows JSCC’s plan to replace their existing process between clearing houses and brokers respectively following execution of clients’ Yen swap transactions, in favour of supporting MTF and SEF trading.

Collaboration 59

Collaboration Corporation Securities Trading 59

The TRADE

AUGUST 3, 2023

Launched in March, CROSSx is Cossover’s execution-only cryptocurrency electronic communication network (ECN). Coinciding with this new relationship with a US-based clearing broker, Crossover’s data centre footprint will expand to Equinix’s NY4, building upon its existing presence in Equinix’s LD4 for international counterparties.

Trading 52

Trading Electronics Collaboration Broker 52

The TRADE

MAY 28, 2024

Market fragmentation has increased over recent years and led to the dispersion of trading activity across primary exchanges, lit and dark multilateral trading facilities (MTFs), banks’ systematic internalisers (SIs) and electronic liquidity providers’ (ELP SIs). Could a consolidated tape offer up a suitable alternative tool to CLOBs (CT)?

Equities 59

Equities Trading Portfolio Management Investors 59