Best execution
Sell side pushing for bilateral connectivity for fixed income
Fixed-income liquidity providers, battling tighter margins, want to execute directly with clients, but are buy-side and tech firms willing to absorb the connectivity costs?
Charles River, Wave Labs team up for enhanced OEMS
The strategic partnership will involve a three-part integration including system connectivity, combined visualization and the creation of client feedback loops.
Burden of Proof: Meet the IEX breakaways looking to shake up broker algos
Founded with the principles of “transparency and academic rigor,” some say Proof’s model and technical approach is a test case for a new generation of cloud-native broker startups.
New entrants want to feed bond market’s hunger for data
In the absence of a consolidated tape for debt securities in the EU, vendors with different approaches to distributing fixed-income market data are emerging.
Inside RBC’s Aiden project: 5 years of deep learning
Aiden, a trading platform launched last year, is the product of five years of experimentation with deep learning by RBC Capital Markets on top of an additional five years of hypothesizing about what best execution would one day require.
BMLL partners with quants for HFT regulation
Researchers from a Paris university are using the provider’s data and coding environment to build models for more efficient regulatory approaches.
CDS trading remains stubbornly human
Buy-sider traders remain skeptical of the benefits of algo execution for credit derivatives.
US competing consolidators grapple with pricing uncertainty as SEC, exchanges battle over new Sip regime
Vendors who want to provide consolidated market data under the SEC’s new system can’t make plans until they know how they are going to be charged for market data. But the fee schedules are mired in legal action and confusion.
OTC FX options market gears up for faster electronification
The share of electronic trading in the market remains low, but a host of factors promise to change that for good.
Funds urged to scrutinize outsourcing models to reduce data leakage
Asset managers can choose from a range of trade-outsourcing models, but some traders say certain providers’ data-sharing techniques carry greater risk of information leakage.
Has Covid stopped the clocks on FX timestamp efforts?
Budget reallocation may not be the only factor stalling standardization progress, say market participants.
Futures trading algos ripe for disruptive new entrants
Algorithm development specialist BestEx Research is making a play to address inefficiencies in futures trading algorithms.
SEC’s Market Data Infrastructure Rule Not Easily Said or Done
The finalized equities market infrastructure reforms will make a difference, but some market participants are calling for additional clarity.
TradingHub Looks to Analyze Aggregated Client Data to Improve Market Abuse Risk
The service would aim to allow buy-side firms to proactively monitor for trading abuse, rather than react after the event.
Industry Still at Odds Over Use Case for an EU Consolidated Tape
Market participants say they want a high-quality, centralized source of market data for EU equities. But who and what is it actually for?
Covid Could Cause US Regulators to Rethink Surveillance
Not having specific requirements and procedures for firms to refer to ended up putting some funds in a tough place during the pandemic’s early days.
Waters Wrap: The NEX Brand Slowly Disappears (Plus Market Data Fights & AI Integrations)
Anthony looks at what's become of NEX since the CME acquisition, as well as discussions over odd lot reform and S&P's Kensho implementation.
Exchanges, SEC At Odds Over Odd Lots
Industry insiders warn that the regulator’s attempts to modernize equities data by redefining trading lots will fall short of the mark if odd lot orders remain unprotected.
TradingScreen Continues OMS Expansion on the Buy Side
Vendor firm will release enhancements to allocation, pre-trade compliance, and reporting and analytics in September.
Scrutiny and Frictions Follow EMS Vendors into Fixed Income
Aggregators are facing resistance from venues and attracting the attention of regulators.
Covid-19 Reveals Need for Better Comms Plug-Ins for Traders
Traders should have real-time voice modules in trading systems and the ability to add detailed notes to replicate trading floor experience.
EU Consolidated Tape: Support Wanes With Lack of Answers
With regulators slow to answer industry questions relating to how a CT should be built and what it's for, development has slowed.
Wavelength Podcast Ep. 175: Tradeweb's Billy Hult
Duncan Wood interviews Tradeweb's Billy Hult about the changing trading landscape.
The Rise of the Algo Wheel
An examination as to how the buy side is embracing algo wheels and where the challenges still remain.