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Emerging markets broker Arqaam Capital has launched a new proprietarytrading infrastructure tool, ArqNET, aimed at enabling European institutional clients to trade faster in Middle East and North Africa (MENA) markets.
The Securities and Exchange Commission (SEC) has moved to expand the remit of national securities associations such as the Financial Industry Regulatory Authority (FINRA). to cover previously exempt proprietarytrading firms.
Aquis attributed the growth in market share to changes to its proprietarytrading rule in September. Market share had grown from 4.97% in December last year to 5.46% in February.
MIAX has gained approval from the US Securities and Exchange (SEC) for its new US options electronic exchange and physical trading floor, MIAX Sapphire. The physical trading floor is expected to go live in 2025 and will be the first national securities exchange to be established in Miami, Florida.
Coming in at number three in our most read stories was news in September that the US’ Securities and Exchange Commission (SEC) had issued a ruling for a new National Market System. Yet, some of today’s broker-dealers continue to rely on an exemption from national securities association registration that’s older than the cell phone era.
Trading and ProprietaryTrading Many large banks are involved in trading activities. This can be trading on behalf of their clients (like when you buy a stock through a bank's brokerage service) or proprietarytrading where banks invest their own money.
They will bolster the security of the US Treasury market by mandating central clearing for eligible securities, such as repos and reverse repos, inter dealer broker transactions and other cash transactions. In doing so, these rules are intended to reduce counterparty risk, limit contagion and increase transparency in the market.
It was then that he moved onto the proprietarytrading desk at the bank, mentored by former head trader at Moore Capital, Joe Cardello, and Jim Byrd, global head of macro trading at RBC. “My My key takeaway from those guys was that the core foundation of trading isn’t about buying and selling.
The Securities and Exchange Commission (SEC) is in the process of introducing noteworthy rule changes to the clearing of fixed income securities, a development which is set to reshape the landscape for fixed income trading. For trading desks, the new rules will result in a range of operational and regulatory shifts.
Securities and Exchange Commission in 2020 to require an activist to disclose their position in a Schedule 13D filing within five days of owning more than 5% of a company, rather than the current 10-day requirement. At issue is a measure initially proposed by the U.S.
Securities and Exchange Commission in 2020 to require an activist to disclose their position in a Schedule 13D filing within five days of owning more than 5% of a company, rather than the current 10-day requirement. At issue is a measure initially proposed by the U.S.
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.
While fingers of blame are being pointed in each direction, the bottom line is asset managers are now facing operational challenges, the notion of pre-funding trades and balancing settlement security with best execution obligations. I’m not seeing it yet. That cannot be seen to be a positive outcome.”
“We as an outsourced trading community are always going to come up against the ‘fear factor’. However, by not being present in the set-up of a new regime [buy-side traders] are missing opportunity to have a say and effectively create even greater job security with a hybrid approach,” asserts Hantman.
Non-traditional liquidity providers such as Flow Traders, Jane Street, Optiver, and Citadel Securities have made waves in fixed income and all-to-all platforms provided by the likes of MarketAxess, Tradeweb and Bloomberg have exacerbated this – offering buy-siders a chance to face off against firms they might not otherwise have been connected with.
These measures included mandates for constraints on proprietarytrading (known as the Volcker Rule), and enhanced supervision of derivatives markets, as well as increased capital reserves. On 30 June 2023, Livor was replaced by the Secured Overnight Financing Rate (SOFR).
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. Portfolio trades have historically helped many institutions to move big blocks of risk.
In 2022, CME Group saw a record year for its exchange-listed foreign exchange products, which was followed by a record day for its FX suite of products in March this year, trading $296 billion notional in one day across over three million contracts.
The proprietary systems that once gave large banks and hedge funds a competitive edge are no longer exclusive to those with deep pockets. Firms of all sizes are now able build their own trading systems from the ground up rather than relying on off-the-peg technology.
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