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Earlier this year, the custodian added a Financial Information Exchange (FIX) application programming API to its Fund Connect ETF portal. Available to all participants on the platform, the enhancement provides connectivity and electronic communication through an industry protocol used in electronic trading.
The solution includes fast access to relevant new issue securities with the most up-to-date information, electronic order routing, and automatic delivery of final allocations. First, orders from various portfoliomanagers are staged and aggregated before being electronically routed to InvestorAccess.
Tradeweb claims to be the first electronic trading platform to make OIS curves available during the repo trade negotiation process, which will enable institutional clients to better assess the price competitiveness of different repo rates across different currencies and maturities.
Appital Insights went live in September 2023, helping unlock liquidity unavailable through traditional electronic trading venues. FactSet Portware EMS has also made a new functionality available, ‘Live Watchlist’, allowing buy-side institutions to assess the viability of executing larger ADV orders without alerting the market.
Bookbuilding platform Appital has launched a new initiative to unlock liquidity unavailable through traditional electronic trading venues. Traders and portfoliomanagers will also be able to access exposure to liquidity events in relevant equities meeting their minimum ADC or pricing thresholds.
Fixed income trading venue and data provider MarketAxess has expanded its integration with the Investortool platform for its municipal bond activity From now, MarketAxess’ offerings will be displayed on the Investortools Dealer Network (IDN) as it seeks to expand its electronic municipal trading.
Algorithmic development has and always will evolve to achieve the best performance possible versus the client benchmark,” says Alex Harman, head of EMEA electronic and program trading at Goldman Sachs. The longer I take, the more opportunity/risk I’m exposed to.
Miller is a Bloomberg veteran having spent over 20 years at the company, holding several senior positions, including: global head of sales and account management (global markets electronic trading); global head of fixed income, currencies, commodities electronic sales; and global head fixed income electronic trading sales.
Alex Livingstone, formerly head of trading for ETFs and FX at Titan Asset Management, joined Titan Investment Solutions as a junior portfoliomanager and trader. He has also worked for CrossTower and ISE Holdings as global head of product strategy and product management director, respectively.
Axes have typically been used by traders looking to execute larger or block trades which they are not comfortable executing electronically. Over the years, buy-side use of axes has evolved significantly, with portfoliomanagers increasingly using them as well.
She has been with State Street since 2000, beginning as a relationship manager. As head of State Street Global Advisors Europe – her current role – she is responsible for the firm’s EU-based portfoliomanagement, distribution, product development, fund management and operations.
While traders don’t have the authority to load up trades, outside of execution they are expected to collaborate with their portfoliomanagers to bring value add to the investment process by making suggestions around idea generation and execution. The trading team work closely in tandem with portfoliomanagers when preparing a strategy.
Industry stalwart Dan Hinxman joined Bloomberg as head of European credit electronic trading following almost six years as managing director at TP ICAP. He began his career as a junior portfoliomanager at RSA covering US equities.
A recent Coalition Greenwich report on fixed income trading technology confirmed this trend, highlighting two main contributing factors – the readiness of the asset class and improved attitudes towards electronic trading. Buy-side users of EMS have until 12 July to provide feedback on their vendors for the 2024 edition.
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).
Prior to this appointment, she spent three years as head of EMEA EFX sales, bank sales, platform sales, custody FX and cross border payments for FIs at Citi, and before that served as head of EMEA electronic FX sales. Previously, Latif was co-head EMEA electronic FX sales at Goldman Sachs for eight years.
One of the benefits of growth in FX clearing includes developments in financial resource management tools, said Coalition Greenwich, further highlighting that increased clearing is set to affect how and with whom the buy-side trades.
Earlier this month , Ace Capital became the latest buy-side firm to adopt the offering for electronic communications monitoring. The post NJ Asset Management streamlines order management and compliance management with Bloomberg solutions appeared first on The TRADE.
Beginning her career on the buy-side at boutique asset manager Credit Suisse First Boston as an investment portfolio analyst in London in 1986, Ruffles has seen the markets through several highs and lows. When I joined State Street in 2004, we were electronically trading then. “In asks Ruffles. Absolutely yes. Ruffles says.
The trader of today has to be able to distil a vast amount of disparate information and filter it in a bespoke fashion to the needs of individual portfoliomanagement teams. That requires the ability to utilise many different execution methods, be it electronic, RFS, voice, bartering, understanding the mechanics of algos.
“In the end, the efficiency that we hoped to reach with having one desk was not realised and therefore we said we want to focus on one specific asset class with dedicated equity traders, fixed income traders and FX traders,” says head of equity trading and operational portfoliomanagement at Robeco, Robbert Wijgerse. “We
Hopefully soon it will be possible for those allocations to electronically flow back into the OMS making the workflow fully STP [straight through processed]. The post The Big Interview: Angela McLean appeared first on The TRADE.
Specifically, Collery highlighted the important role of portfoliomanagers and a proactive approach to forging those key relationships. However, despite this, Joe Collery, head of trading at Comgest endorsed a measured approach whilst speaking at TradeTech earlier this week.
Electronic trading capabilities have led to a major shift away from voice trading, and this has changed the role that counterparties play when they work together. With electronic trading comes the added benefit of requiring less time to be spent on small trades.
Axes are no longer the preserve of the trading desk at asset managers. The use of this data by the portfoliomanagement function means they can better represent their investment process by taking liquidity into account. Dealers still need to get better at distributing their data and managing where it goes to.
In turn, high-tech firms can provide funds with front-, middle-, and back-office tools – like order management, risk management, and portfoliomanagement systems – that improve automation and efficiency in their own operations.”
Raymond joined LGIM as its head of credit trading in 2019 when the asset manager was undergoing the process of splitting up its portfoliomanagement and trading capabilities. Chicago is a very small community and so I knew most of the portfoliomanagers and management at LGIM America before I came over.
” or “give me a breakdown of value by portfoliomanager” Taking a step further, orders can be grabbed to prep or allocated internally across the desk. From a fixed-income perspective, bilateral electronic connections are finally becoming commonplace.
“There is a structural case for emerging markets, and it is set to remain a core part of the fixed income opportunity set,” asserts John Espinosa, head of sovereigns and portfoliomanager for Nuveen’s global fixed income team. “It One of our protocols – Rebalance, our dealer-to-dealer electronic business – is suited for that.
If a portfoliomanager wants to execute a trade days after such an event, they need to understand that liquidity may be reduced, and they must be confident in their strategy if they’re willing to pay more in the bid-offer spread.” This context is crucial for our day-to-day operations.
It is rare, for example, that you’ll find an asset manager worrying about the good of the market or how an order might influence the primary lit market share, over whether or not they have achieved the optimal outcome for their portfoliomanager and end investor. They’re built for slightly different purposes.”
On the other hand, foreign exchange – the largest financial market in the world – benefits from the fact that trading is not limited to one central location but is instead conducted between participants by phone and electronic communication networks (ECNs) in a wide range of markets globally. Already in EMEA, we have six valid trading days.
These systems touch upon all elements of the trading lifecycle throughout the front-to-middle-to-back-office including execution, order, risk and portfoliomanagement. However, DMA is the process of directly connecting electronically to an exchange in order to trade on exchange securities without using a broker or intermediary.
Byron Cooper-Fogarty, chief operating officer at Neptune, at the time highlighted that “this has been a client driven addition, as buy-side traders and portfoliomanagers continue to ask for high quality data from liquidity providers such as Mizuho.”
Looking ahead, AI is poised to play a pivotal role in bond trading, transforming how fixed-income traders, analysts and portfoliomanagers process and leverage the growing volume of data from electronic trading. This growth is projected to continue into 2025, fuelled by a steady increase of credit e-trading.
The rise in electronic trading supported more granular order data availability. The ability to measure performance versus each point in the order lifecycle allows information to be provided to portfoliomanagers and traders on any glaring issues such as delay costs and order profiling.
What are the most impactful changes AI is making on electronic trading, and markets in a wider sense? This helps market participants, especially portfoliomanagers, to reduce both the noise in their portfolio and in their portfolio tracking error overall.
Around 75% of leaders from UK and Singapore view outsourced managed services as having a highimpact on costreduction, according to FISs 2024 Global Innovation Research.
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