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Acuiti’s research – commissioned by MIAX – included responses from senior executives across 94 proprietarytrading firms, hedge funds, banks and interdealer brokers, as well as the main futures commission merchants ( FCM ) that serve the derivatives market.
Fixed income proprietarytrading firm Millenium Advisors has opened a new office in Singapore as it continues its expansion across Asia. Announced on social media, the move was described as marking “a significant milestone in Millennium Advisors’ growth, reinforcing [its] commitment to the APAC region”.
The exchange group set out plans at the end of 2021 to grow the Euronext Clearing’s headcount by 65% at the end of 2023, amounting to roughly 50 new hires across its risk, technology, sales and product development functions. We will therefore have sales and development resources close to the relevant stakeholders.
Once both parties agree to firm up, that will trigger the VWAP period, Aquis Exchanges head of sales, Sakeena Lalljee, tells The TRADE. At the end of that period, that’s when the volume weighted average price will be known based on lit trades that have taken place in that window.
This is done to increase oversight of ProprietaryTrading Firms (PTFs), which play a significant role in providing liquidity in the US Treasury market. PTFs engage in trading with their own capital rather than on behalf of clients and will have to register with the SEC and FINRA as dealers.
I have also worked on different types of trading desks ranging from full-franchise to proprietarytrading. I have had the privilege to experience many different cultures and time zones, having worked in Sydney, Wellington, Hong Kong and London. I have seen many significant moments in history.
As highlighted in Acuiti’s report – which included responses from senior executives across 94 proprietarytrading firms, hedge funds, banks, interdealer brokers, and futures commission merchants (FCM) that serve the derivatives market – 2022 saw a surge in interest in volatility trading from the market.
Underwriting is the process of assessing financial risk and committing to purchasing the shares from the issuing company to ensure the successful sale and distribution of the newly offered securities to investors. There are a lot of other ways that investment banks make money, like Asset Managem ent and proprietarytrading.
Institutions should also note that the SEC has implemented a regulatory change to redefine the term ‘dealer,’ aimed at increasing oversight of proprietarytrading firms (PTFs), which are key liquidity providers in the US Treasury market.
Cost must be balanced with effectiveness When it comes to outsourcing trading, seeking offerings with clear value-add and a smooth operational set-up has been front of mind for firms. It is important to be clear in terms of identifying activities that are in and out of scope to consider outsourcing.”
For more information on the various providers in the EMS market, check out The TRADE’s annual survey. Bloomberg Terminal Up next and needing little introduction is the Bloomberg Terminal, Bloomberg’s data and proprietarytrading platform.
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