TheTradeNews.com

Abide Financial, SunGard, Rate Validation Services and more...

Wed, 22 May 2013 11:39:52 GMT

Regulatory compliance services firm Abide Financial has released a new service to help firms comply with the European market infrastructure regulation alongside the firm's existing reporting tool.

Buy-side firms concerned over sales trader knowledge

Tue, 21 May 2013 15:25:48 GMT

Over half of asset managers do not agree that sales traders understand their business and how they generate alpha, according to research from US consultancy Woodbine Associates.

Mini crash fuels calls for market structure overhaul

Richard Henderson — Tue, 21 May 2013 15:00:08 GMT

A 'mini flash crash' that wiped out the value of a US stock has again suggested US market structure distress, days after a roundtable saw captains of the finance industry agree that regulators should be careful not to interfere with a well-functioning system.

Barclays sees value in dark pool reporting

Tue, 21 May 2013 11:38:34 GMT

Barclays has confirmed it will continue reporting monthly aggregate data from its US dark pool LX citing the industry benefits of greater transparency, a month after rival dark pool operator Credit Suisse ceased relaying similar data.

SIFMA appoints new CEO and president

Mon, 20 May 2013 17:32:46 GMT

Sell-side trade body the Securities Industry and Financial Markets Association has appointed former US senator Judd A. Gregg as CEO and former US representative Kenneth E. Bentsen, Jr. as president.

SIFMA appoints new CEO and president

Mon, 20 May 2013 17:29:12 GMT

Sell-side trade body the Securities Industry and Financial Markets Association has appointed former US senator Judd A. Gregg as CEO and former US representative Kenneth E. Bentsen, Jr. as president.

FPL updates post-trade guidelines

Richard Henderson — Mon, 20 May 2013 15:51:07 GMT

Reducing settlement times and streamlining post-trade processes were key issues in new FIX Protocol Limited global post-trade processing guidelines released today, according to a senior member of FPL's post-trade team.

Rule-makers caught out in the dark

Mon, 20 May 2013 12:14:14 GMT

New rules introduced by MiFID II and a pan-European transaction tax could have far-reaching implications for dark trading in Europe, while US authorities are expected to review critical regulations that impact alternative trading venues.

CFTC gives SEFs green light

Fri, 17 May 2013 16:14:25 GMT

Swap execution facilities have been given the go-ahead after the US Commodity Futures Trading Commission passed final rules on OTC derivatives trading, including dropping the number of bids buyers must request to three.

Buy-side clearing issues grow as swaps face liquidity dip

Richard Henderson — Thu, 16 May 2013 15:35:19 GMT

Many buy-side firms will not be ready for the 10 June swaps clearing deadline under the Dodd-Frank Act, which will contribute to an estimated US$55 trillion notional shortfall, research has shown.

Cleared US dollar IRSs increase ahead of buy-side deadline

Paloma Migone — Thu, 16 May 2013 13:34:52 GMT

The number of US dollar-denominated interest rate swaps being cleared has jumped by 10% since US rules kicked in two months ago, according to a new tool using data from the Depository Trust and Clearing Corporation.

Traiana's management tool for swaps goes live

Paloma Migone — Thu, 16 May 2013 13:32:58 GMT

Traiana's risk management service for swap clearing is set to go live with users after the post-trade solutions provider completed testing with its first futures commission merchant.

Omgeo, MarketPrizm, IPC Systems and more...

Wed, 15 May 2013 14:14:53 GMT

Solutions provider Omgeo has updated its web-based global database to include fields for the Legal Entity Identifier.

Liquidnet appointments suggest further Continental push

Richard Henderson — Tue, 14 May 2013 12:36:44 GMT

Institutional block trading network Liquidnet has appointed two senior members to its EMEA team to build on positive early-year results as it grow its Continental Europe client base.

Quote milestone signals US market weakness

Richard Henderson — Tue, 14 May 2013 8:37:45 GMT

The US market infrastructure is on the verge of managing a capacity of three million quotes a second, but the growing disparity between quotes and filled orders will weaken the market, believes one high-frequency trading expert.

Volumes drift ahead of OTC derivatives reform deadlines

Richard Henderson — Tue, 14 May 2013 8:35:22 GMT

Global OTC derivatives trading volumes have slipped as market participants adjust to impending regulation and the emergence of swap futures, new data has shown.

Euroclear expands collateral offering to US with DTCC

Paloma Migone — Tue, 14 May 2013 8:29:37 GMT

Post-trade services providers Euroclear and the Depository Trust and Clearing Corporation are joining forces to allow firms to manage holdings at both depositories across the Atlantic as a "single collateral pool".

Baby steps in the dark

Chris Hall — Mon, 13 May 2013 15:52:17 GMT

The popularity of dark pools among institutional investors speaks volumes for their price improvement opportunities, but differences in execution performance are hard to tease out.

Is the waiting over for SEF rules?

Fri, 10 May 2013 14:50:09 GMT

Final rules on how OTC derivatives will be traded under Dodd-Frank could be revealed next week, with the US Commodity Futures Trading Commission scheduled to discuss key reforms.

SimCorp, Deutsche Börse, BT Radianz and more...

Wed, 08 May 2013 16:36:56 GMT

Asset manager Nordea Investment Management has gone live with new broker strategy functionality in technology provider SimCorp's Dimension order management system for ten of its brokers.

Will FPL shine new light on US order routing?

Rob Daly — Tue, 07 May 2013 14:14:46 GMT

Institutional investors may gain easy access to a bonanza of equities execution data as the Americas buy-side execution working group of standards body FIX Protocol Limited examined whether to adapt its messaging protocol and execution venue reporting guidelines to support data on where orders were routed, but not filled.

CFTC faces second lawsuit over ‘anti-competitive’ rules

Paloma Migone — Tue, 07 May 2013 13:50:22 GMT

Progress on derivatives rules under Dodd-Frank has been dragged down further with the US Commodity Futures Trading Commission facing a second lawsuit and accusations of being anti-competitive.

'Hash crash’ further erodes confidence in US market – report

Paloma Migone — Tue, 07 May 2013 13:18:16 GMT

Market confidence has been dwindling since the 'flash crash,' but a new report shows the recent Twitter fiasco that sent markets on a free fall last month had relatively little impact on participants' outlook.

FIX bond adoption set to open up cross-asset efficiencies

Fri, 03 May 2013 11:26:59 GMT

Major execution venues active in electronic bond trading are committing to adopting open standardised protocols, said Sassan Danesh, managing partner, Etrading Software, and co-chair of message standards body FIX Protocol Limited (FPL) global fixed income committee.

Electronic trading set to mushroom for US corporate bonds?

Fri, 03 May 2013 11:10:53 GMT

Research firm Aite Group has issued a report that concludes electronic institutional trading models are set to increase their participation in the US corporate bond trading markets. The firm predicts that electronic trading will account for 40% of the market this year compared to 30% in 2012.

ICE sets date for US credit futures

Fri, 03 May 2013 10:55:14 GMT

The InterContinental Exchange (ICE) will launch its first US credit futures contracts next month, which will offer an alternative to credit default swaps that are due to migrate to new electronic trading facilities, subject to rules being finalised.

Direct Edge offers new incentive to high-volume users

Thu, 02 May 2013 16:42:15 GMT

US exchange operator Direct Edge has released its latest incentive for high-frequency trading by offering active market participants a reduced fee to remove and route shares.

SEC plans ‘robust and workable’ roadmap for cross-border swaps

Thu, 02 May 2013 8:48:56 GMT

The US Securities and Exchange Commission yesterday unveiled its new framework for cross-border swaps, with chairman Mary Jo White claiming that its ‘substituted compliance’ approach would reduce the regulatory complexity faced by global market participants.

CFTC to address systemic risks, moots ‘guidebook’ on swaps data

Chris Hall — Wed, 01 May 2013 14:18:27 GMT

The Commodity Futures Trading Commission (CFTC) is to lay out its plans to bolster the stability of US derivatives markets with the publication of a concept release before the end of June. Speaking ahead of yesterday's meeting of the CFTC's technology advisory committee.

BWise, Sapient Global Markets, TradingScreen and more...

Wed, 01 May 2013 14:10:39 GMT

BWise, a subsidiary of NASDAQ OMX providing software in compliance, governance and risk management, has launched its Vendor Risk Management product to help manage vendor and supply chain risk.

Euronext IPO remains a ‘go’ as NYSE-ICE deal progresses

Tue, 30 Apr 2013 17:19:41 GMT

The merger between Intercontinental Exchange and NYSE Euronext is still going to result in a planned initial public offering for the Euronext portion of the business.

Microstructure issues hamper meaningful reform debate

Tue, 30 Apr 2013 13:13:01 GMT

Last week's delayed opening of the Chicago Board Options Exchange is just the latest in a long line of technology-related financial markets 'face plants', which last year included Knight Trading's rogue algorithm and the painful Facebook and BATS Global Markets IPO experiences.

Don’t make a hash of it!

Tue, 30 Apr 2013 12:50:35 GMT

Last week’s fake tweet set US markets into an instant free fall and showed thatmarkets still react to misinformation as quickly as verified fact.

Can FX trading learn from equities?

Tue, 30 Apr 2013 12:20:06 GMT

Algo trading pioneer Joe Wald explains how FX traders can leverage tools and expertise developed in the equities markets.

Derivatives tax proposal ‘would punish risk management’

Thu, 25 Apr 2013 14:38:11 GMT

A US budget proposal that would change how derivatives are taxed could, if agreed, increase portfolio risk and damage both the derivatives and underlying markets, investor bodies and analysts claim.

Aladdin deal shifts credit market towards open platform

Thu, 25 Apr 2013 10:28:03 GMT

MarketAxess has said its deal with BlackRock's Aladdin Trading Network to develop a platform for the US$14 trillion US credit market will increase the market's focus on a single set of open-platform solutions despite a likely increase in competing venues.

Twitter Tuesday shows US equity market resilience

Thu, 25 Apr 2013 10:18:43 GMT

Tuesday's Twitter-inspired mini-crash confirmed the US equity market's vulnerability to misinformation in the social media age, but a rapid rebound suggested the resilience of trading systems, industry experts have stated.

Aladdin deal shifts credit market towards open platform

Thu, 25 Apr 2013 9:00:08 GMT

NYSE Technologies, Caplin Systems, Lucena Research and more...

Wed, 24 Apr 2013 12:46:17 GMT

NYSE Euronext's technology arm, NYSE Technologies, will launch a new consolidated feed that provides a real-time, unified view of Level 1 market data, including Best Bid and Offer and Last Sale information on NYSE markets.

Cangemi elevated to CEO of ConvergEx London business

Tue, 23 Apr 2013 17:40:29 GMT

Brokerage and trading services provider ConvergEx Group has appointed its head of electronic equity trading and sales to CEO of the firm's UK based broker-dealer, ConvergEx Ltd.

Investors support call for Dodd-Frank extraterritoriality changes

Tue, 23 Apr 2013 17:39:20 GMT

Buy-side associations have backed the substance of a letter from nine governments warning of damage to derivatives markets unless the US abandons its plan to subject overseas subsidiaries of US entities to Dodd-Frank.

Bloomberg lawsuit will not stem swap futures

Richard Henderson — Tue, 23 Apr 2013 15:55:00 GMT

Bloomberg's legal action against the Commodity Futures Trading Commission this week will not constrain the growth of swap futures, experts have warned.

Inertia ‘to blame for near-savage markets’

Tue, 23 Apr 2013 13:26:36 GMT

A breakdown in the consensus over market structure has left investors confused in conditions of "near savagery" as they scour the margins for advantage, according to California-based Jones Trading.

BATS Chi-X Europe appoints new COO

Richard Henderson — Mon, 22 Apr 2013 16:53:19 GMT

BATS Chi-X Europe, the region's largest equities trading venue by volume traded, has appointed David Howson as COO from rival multilateral trading facility Equiduct Systems.

SGX appoints new equities chief

Fri, 19 Apr 2013 13:29:10 GMT

Singapore Exchange has hired Jenny Chiam as senior vice president of head of securities to lead the venue's equities strategy.

SunGard, Interactive Date, FlexTrade and more...

Wed, 17 Apr 2013 16:16:19 GMT

SunGard is expanding its Valdi suite of trading tools with the introduction of a product that takes real-time trade execution and financial analytics to the front office.

SEC prepares bond market for end of quantitative easing

Rob Daly — Tue, 16 Apr 2013 16:14:23 GMT

While the gold, oil, grain and other commodity markets try to recover from the beatings experienced over recent days, the US Securities and Exchange Commission is turning its attention towards the health and transparency of the corporate bond market with an all-day roundtable addressing the market's transparency and market structure today.

LX framework targets toxic trading

Mon, 15 Apr 2013 17:23:54 GMT

Barclays has introduced a 'toxicity framework' to its LX dark pool that it claims makes predatory trading easier to identify.

Bloomberg futures exchange ‘one of several options’

Mon, 15 Apr 2013 17:21:45 GMT

Bloomberg today qualified its earlier announcement that it would set up a futures exchange if the Commodity Futures Trading Commission failed to amend an "arbitrary and capricious" rule it says penalises OTC swaps at the expense of futures trades.

Buy-side swaps reporting thwarted by vendor reliance

Mon, 15 Apr 2013 17:20:37 GMT

Asset managers' reliance on advice from third-party vendors and clearing brokers as they prepare for new swaps reporting and trading regimes could lead to significant compliance delays, an expert has warned.