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CME Group has launched repo on corporate bonds and mortgage-backed securities (MBS) on its dealer-to-client (D2C) request-for-quote (RFQ) trading platform, BrokerTec Quote. US corporate bonds began trading yesterday, 20 May, with the remaining products expected to be live by the end of next month.
Delikaris rejoins the firm from Coinbase, where he most recently served as head of digital finance trading. Prior to that, he spent nine years at State Street, serving as managing director, global head of AAPS – a role he will reprise. Previously, he served as State Street’s global head of algorithmic trading, securities finance.
McDonald told The TRADE that he is looking forward to the new role, adding: I’ve been warmly welcomed into the team by everyone and am very grateful for the opportunity to work for Julius Baer. I’m thoroughly looking forward to working in Monaco, focusing on providing excellent cross-asset trade execution to clients.
Portfolio trading as a concept has exploded in the last few years, egged on by market conditions and volatility brought on by the pandemic and other macroeconomic factors. However, whether or not all firms are able to monetise the tool by managingrisk effectively in today’s environment, is up for debate.
Hedge funds are significant players in financial markets given the size of their capital bases and the frequency of their trading. as of the end of 2020, hedge funds managed approximately $3.6 One widely cited estimate is that hedge funds account for around 5-6% of total equity trading volume in the US.
Getaround’s stock soared 135% in after-hours trading on the news, reaching a high of $0.80. The combined company’s stock began trading at around $10 per share, but promptly plummeted. Securities and Exchange Commission. To date, Getaround’s stock has lost 96% of its value. million in cash and cash equivalents.
The London Stock Exchange (LSEG) saw overall growth across its key businesses in 2023, with considerable improvement across data and analytics, capital markets, and in particular, post-trade. LSEG labelled 2023 an “outstanding” year for post-trade, having seen significant strategic progress. rise year-on-year as compared to 2022.
Nasdaq and the Indonesia Stock Exchange (IDX) have expanded their technology partnership which will see the former upgrade its core trading platform to Nasdaq’s most advanced matching engine. The post Indonesia Stock Exchange taps Nasdaq to build out market infrastructure appeared first on The TRADE.
Exchange and clearing house operator Cboe Global Markets is planning to introduce a central counterparty (CCP) clearing service for securities financing transactions (SFT) in Q3 2024. Settlement will take place in 19 European Central Securities Depositories (CSDs). European SFTs primarily occur on a bilateral basis and are not cleared.
SpectrAxe and OSTTRA have partnered on an end-to-end service aimed at streamlining FX options trading through automation of the entire process. Patrick Philpott, product design lead, FX and securities at OSTTRA, said: “Automating the post-trade workflow is crucial for enhancing operational efficiency and reducing risk.
The London Stock Exchange Group (LSEG) has gone live with historical analytics powered by Snowflake, offering clients greater detail on bond securities. The post LSEG launches historical analytics for bonds via Snowflake appeared first on The TRADE. million bonds with a 20 year look back period.
In response, the FSB has outlined eight policy recommendations aimed at strengthening the liquidity preparedness of non-bank market participants for margin and collateral calls across both centrally and non-centrally cleared derivatives and securities markets, including securities financing such as repo.
FIA Tech’s Trade Data Network (TDN) is now certified with and connected to Singapore Exchange (SGX), with FIA Tech expected to roll out TDN connectivity to all SGX members subscribed to the network in Q4. The post FIA Tech connects Trade Data Network to Singapore Exchange appeared first on The TRADE.
Blue Ocean Technologies (BOT) and Members Exchange (MEMX), have entered a technology partnership in which the latter’s market-as-a-service trading system will operate the Blue Ocean ATS global trading platform. Last year, BOT continued to expand globally with a focus on extending its trading model in Asia-Pacific.
BlackRock has promoted from within for its new head of European credit trading, according to an update on social media. Dean Catton has been selected to take the helm for the asset manager’s European credit business after spending the last two years as its head of European leveraged finance trading for its alternatives business.
The Securities and Exchange Commission (SEC) has adopted major rule changes for the $26 trillion US Treasury market requiring more trades to be centrally cleared. Today’s adopting release addresses clearing of treasury securities in two important ways,” said Gary Gensler, SEC chair.
UK-based Marex has joined the Australian Securities Exchange (ASX) as futures clearing and trading participant with the move slated to increase competition within the currently heavily concentrated market. The post Australian Securities Exchange welcomes Marex as futures clearing participant appeared first on The TRADE.
Marex has become a trading and clearing member of Singapore Exchange Group (SGX), which will allow the firm to offer direct trading and clearing services to clients across SGX. Marex’s clearing business offers infrastructure services to a range of clients including banks, hedge funds, asset managers, corporates and trading groups.
Citi has developed a new foreign exchange (FX) solution utilising blockchain infrastructure in order to price and execute bilateral FX spot trades. The offering supports cryptographically secure record-keeping of trade data and only counterparties to a quote or trade have access to underlying trade details.
The central clearing of securities finance transactions (SFTs) is not a new concept, it is one which has been tried before with varying degrees of success. The post Cboe outlines why its clearing service for securities financing transactions will succeed where others have failed appeared first on The TRADE.
. “In today’s complex and fast-paced investment landscape, real-time performance attribution can provide transparency and clarity regarding the drivers of financial returns, particularly in portfolio construction and active riskmanagement,” said Lars Ole Hansen, global product manager at SimCorp.
The addition of these treasury bond futures will help regional and global investors interested in accessing China manage their interest rate and investment risks more effectively, according to HKEX. ” The post HKEX reveals plans to launch China treasury bond futures appeared first on The TRADE.
MEMX, the member’s exchange, has launched its platform for trading listed options following approval from the US Securities and Exchange Commission in August last year. MEMX Options will leverage MEMX’s data-centric exchange architecture and infrastructure, offering traders passive and active riskmanagement capabilities.
Cboe Global Markets has announced new options on Cboe Volatility Index (VIX) futures which are expected to begin trading on Cboe Futures Exchange (CFE) on 14 October. Catherine Clay, global head of derivatives at Cboe The new options on VIX futures will offer investors an additional tool to help manage US equity market volatility.
Low-latency connectivity and workflow services provider TransFICC has launched a new service which automates request for quote (RFQ) negotiation workflows for banks trading on dealer-to-client (D2C) venues. TransACT claims to simplify the process and time to market for a bank to develop automated trading solutions for customers.
As part of the move, Mizuho Bank will be able to benefit from SwapAgent’s offering including centralised trade processing and optimisation. In February, TD Securities joined LCH SwapAgent as first Canadian bank member. The post Mizuho becomes latest member to join LCH SwapAgent appeared first on The TRADE.
Clearing services will be provided through LCH SA’s new dedicated service, LCH DigitalAssetClear, for these contracts traded on the UK FCA regulated digital asset derivatives trading venue, GFO-X. LCH DigitalAssetClear is underpinned by a segregated default fund, a unique riskmanagement model and dedicated set of clearing rules.
Intercontinental Exchange (ICE) is set to launch a clearing service for all US treasury securities and repurchasing agreements. However, ICE confirmed that the new offering will have a separate rulebook, membership, riskmanagement framework, financial and liquidity resources, and risk committee.
FXCM’s institutional arm FXCM Pro has entered a liquidity bridging partnership with Tools for Brokers (TFB), an international provider of technology for retail brokers, prop trading companies and hedge funds. Brokers are also provided with data analysis and improved riskmanagement through one user interface. “We
However, implementing AI solutions has inherent risks, including potential biases, data quality issues, and security vulnerabilities. Robustness and security AI models can be vulnerable to attack, making robustness and security critical considerations during AI due diligence.
The newly expanded clearing rules from the US Securities and Exchange Commission (SEC) will see daily Treasury clearing activity on DTCC increase by more than $4 trillion when they take effect, an industry survey has predicted.
BNY Mellon has selected Eurex as the f irst c learing house to centrally clear repo trade s in Europe , having already executed the first of these transactions. We are pleased to become a trading and clearing member at Eurex. Access to Eurex enhances our overall liquidity management tool kit.”
The new rule changes published by the SEC have been primarily driven by the need to enhance market stability and reduce systematic risk. 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.
With the size of transactions in the US Treasury market now exceeding $7 trillion daily, CCLF is will serve as a riskmanagement tool used for managing FICC’s liquidity risk linked to settlement activity. The post DTCC’s FICC launches new contingency liquidity calculator appeared first on The TRADE.
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.
The calculator enables participants to evaluate potential margin and clearing fund obligations associated with becoming a member of DTCC’s Fixed Income Clearing Corporation (FICC) Government Securities Division (GSD). The post DTCC’s FICC launches new public-facing Value at Risk calculator appeared first on The TRADE.
BlackRock promoted Dean Catton to take the helm for its European credit business after spending the last two years as its head of European leveraged finance trading for its alternatives business. Previously in his career, he spent several years in credit trading roles at StormHarbour Securities, UBS and Elgin Capital.
These new indices will also function as benchmarks for AsiaNext’s crypto derivatives trading platform and institutional investors worldwide. The post SIX launches crypto reference rates and real-time indices for institutional investors appeared first on The TRADE.
In a letter to ESMA, the Association for Financial Markets in Europe (AFME) was against the immediate shift to T+0, stating: “We emphasise that we do not consider a default T+0 settlement cycle for securities transactions to be a realistic or desirable near-term policy objective.” asset-backed securities)”. to just over £2.6
LCH – part of the post-trade division of London Stock Exchange Group – has announced that Barclays and Barclays Ireland are now live as clearing brokers at CDSClear. Two years later, the European Securities and Markets Authority reauthorised the CCP to clear the products under the European Market Infrastructure Regulation.
AI agent startups secured $8.2 From algorithmic trading and riskmanagement to fraud detection and customer service, the applications are vast and varied. I have a simplistic view of the tech itself – an agent will perform a specific task it is built for, in a particular sequence, to provide a specific output.
The guidelines currently exclude secondary trading activities. Designed to be asset class and technology-neutral, the DASCP does not advocate for any particular DLT architecture – be it public, private, permissioned, or public permissioned. To achieve these goals, we intend to put these principles into action.
The post BIS committees unveil latest proposal for central clearing systems appeared first on The TRADE. BIS committees have teamed up to share collective insights on initial margin calculations and future requirements for centrally cleared transactions.
The shortening of settlement cycles across markets and asset classes, combined with increasing trade volatility, is creating new pressures on manual operational processes for both buy- and sell-side participants across multiple trade lifecycle functions. AI has the potential to transform all stages of the trade lifecycle.
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