Best execution
Waters Wavelength Podcast: Fixed income execution & innovation
This week, Spencer Lee, chief markets officer at TS Imagine, joins Tony on the podcast to discuss execution issues and innovation within the fixed income space.
Howson on steering Cboe past potholes and traffic cops
The head of the world’s largest options exchange discusses SEC regulation and SPX appeal.
UK divergence on trading venue perimeter threatens more costs and a complex compliance landscape
The FCA is in the middle of a tug of war over the definition of a trading venue. Will it diverge in a bid to present itself as a competitive market internationally or align with its EU partners?
SEC deadline raises existential questions for US market data
This month, the commission must decide on a fee filing under its market data modernization efforts. Jo wonders how likely we are to see those efforts materialize any time soon.
MarketAxess completes migration of Deutsche Börse’s reg reporting businesses
The market operator has onboarded about 500 new clients and aims to create new revenue streams to ease the ongoing cost and margin pressures.
Market data plans revive proposals to move odd lots onto Sips
Consultation on democratizing odd lots data closes next week, but more solutions to order protection concerns may be needed.
Shaking things up in the dark: Vendors build new tools for dark-pool trading in Asia-Pacific
New conditional order venues could bring more liquidity and sophistication to dark pool trading in the region.
This Week: T+1; FlexTrade/TradeFeedr; SimCorp/Snowflake; and more
A summary of some of the past week's financial technology news.
Data-Driven Execution—Looking Back to See Forward
Reviewing favorable outcomes and attempting to replicate them is by no means a new concept across the capital markets. Portfolio managers, execution professionals and risk managers use this principle to drive their decisions, although it is really only…
Six partners with BMLL for best execution analysis
The Swiss exchange is using the vendor's data and analytics to provide insight to brokers around Swiss EBBO liquidity.
This Week: Cboe, Euroclear; Société Générale, Bloomberg/Sustainalytics
A summary of some of the past week’s financial technology news.
This Week: Deutsche Borse; State Street; IHS Markit; MSCI; & more
A summary of the week's financial technology news.
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.