Sell-Side Technology/Analysis
The Art of Communication—Not So Easy Across an Enterprise
At this year's North American Trading Architecture Summit conference in Midtown Manhattan, end users discussed the challenges involved in keeping everyone throughout the development cycle in the loop.
Morgan Stanley CTO: Crowdsourcing Key for Innovation
At this year's North American Trading Architecture Summit in Midtown Manhattan, keynote speaker Tsvi Gal of Morgan Stanley discussed how his firm has employed a new crowdsourcing platform to promote innovation.
Liquidity Aggregation Through FCMs Appealing, But Info Leakage a Question
Even as the estimated number of swap execution facilities (SEFs) drops, fragmentation is still predicted to become an issue in the world of centrally cleared swaps. There is therefore room in the market for an aggregation service, to source liquidity…
Tradition Debuts Long-Awaited ParFX Platform
Broker-dealer Tradition has announced that its spot foreign exchange (FX) ParFX platform, formerly known as TraFXpure, has been launched.
After Lsoc Implementation, Talk of Algo-Enabled Portability
The legally-segregated, operationally-comingled (Lsoc) paradigm is designed to bring greater protection to futures on a customer and ecosystem basis. Futures Commissions Merchants (FCMs) and clearinghouses are pondering a pair of technology issues as…
New Kid on the Block: Squawker Begins Phased Launch in Europe
Later this week, sell-side block negotiation venue Squawker will begin the first part of its phased roll out, following months of preparation, testing and implementation. Built using a mix of social media principles, intuitive connectivity and coverage…
Mobile ROI Hard To Quantify For Financial Firms
At a debate on the impact of consumer technology in the financial services industry, four mobile specialists expressed their opinions on what has been overhyped and what's been underhyped.
Chan and Donahue of Fidelity Capital Markets Talk Dark Liquidity Sourcing
Not all dark pool liquidity is the same, says Fidelity Capital Markets' VP of product development, Derrick Chan. Each dark pool brings some unique liquidity to the table. But he has also found a good deal of repackaged liquidity. And just as a lion doesn…
First Derivatives Plans FX SEF Launch
First Derivatives has announced that it will register as a swap execution facility (SEF), dealing with foreign exchange (FX) swaps that fall under incoming US regulatory mandates.
EMCF to Combine with EuroCCP
European central counterparty clearing houses (CCPs) EuroCCP and EMCF will combine their operations this year to create a single entity for cash equities clearing, subject to regulatory approvals.
Infrastructure Isn't Everything, But It Helps
High-frequency traders continue to find value in emerging markets, but just how important is a city's existing infrastructure?
Banks, Broker-Dealers Falling Behind on T2S Preparation
A recent Celent report has found that while parts of the European financial services industry are getting ready for the implementation of the Target2-Securities (T2S) settlement platform, others are lacking preparedness and facing large costs.
Resources and Regulations Produce Pressures for European Firms
European regulators’ demands are realistic, but the incremental technology-related changes they are proposing will significantly impact overall market structure and liquidity, say panelists who spoke at last week's FIX Protocol Ltd. (FPL) EMEA Trading…
For Emerging Markets, Electronic FX Trading Requires a New Mindset
Although the electronic trading of non-deliverable forwards (NDF) in emerging markets is growing, it needs higher participation and a shift in attitudes to become prevalent, panelists at FIX Protocol Limited's EMEA Trading Conference said last week.
SEF Rule Delays Present Issues and Opportunities
Panelists at the 2013 FIX Protocol Limited (FPL) EMEA Trading Conference in London yesterday said that the delays over finalized rules for Swap Execution Facilities (SEFs) in the US are leading to over development on platforms and an uncertain regional…
Nasdaq Economist: Equities' Electronic Opacity Inhibits Confidence, Growth
At TradeTech East this week, Nasdaq OMX chief economist Frank Hatheway offered a blunt assessment of what's needed to pull the global economy back to into “a virtuous cycle of expansion.” Providing a clearer view into electronic equities trading is one…
ICAP Exec: Europe Can Align OTFs with SEFs
Incoming regulation in the European Union that reforms over-the-counter (OTC) derivatives trading has the opportunity to sync up with analogous US legislation, an executive from interdealer broker ICAP said yesterday at FIX Protocol Limited's 2013 EMEA…
Collateral Transformation's Influence on Optimization
Some people see collateral transformation and collateral optimization as equivalent solutions to the margin demands of central counterparties. In reality, they should not be considered different sides of the same coin.
Liability Protection, R&D Needed After Cybersecurity Executive Order
One of the Obama Administration's first actions in the new term is proving controversial. All parties agree on the perils of hacking, but financial firms are skeptical that regulating cybersecurity, alone, is the right approach.
A Crowded Market: Brokers, Vendors Battle with FIX
As FIX connectivity costs have risen over the past five years, more brokers are looking to outsourced or hosted solutions to manage those costs. But vendors must prove much in order to win business in an increasingly commoditized space.
Fixed Income Panel Talks Fragmentation and SEF Rules
A panel at a recent Tabb Group conference on the future of fixed income debated the delay in implementing SEF rules and the effect of venue aggregation.
CFTC's O'Malia Says Tech Training Wheels Are Off
The only way to face the Commodity Futures Trading Commission's challenges is through robust surveillance automation and analytics. Technology is the bike—the commissioner says the regulator needs to learn to ride.
Second Time Around, Corporate Bonds Platforms Putting Interface First
Benchmark Solutions and iTB both aim to make corporate debt tools elegant as trading in the asset class incrementally goes electronic. Their interfaces illustrate two approaches, fit to purpose.
Regulatory Uncertainty Inhibits OTC Preparation, IPC Survey Finds
A recent survey by vendor IPC Systems has found that a lack of clarity over regulations governing how over-the-counter (OTC) derivatives will trade in the future is leading to a lack of preparedness among market participants, even as most accept that the…