TheTradeNews.com

SGX plans circuit breakers to meet global trend

Wed, 19 Jun 2013 16:47:48 GMT

Singapore Exchange has revealed proposals for dynamic circuit breakers that would safeguard the venue and its members against severe price fluctuations and has sought industry feedback.

MiFID II by Christmas while dark concerns grow

Wed, 19 Jun 2013 15:58:48 GMT

A pre-summer start to trialogues will result in a completed MiFID II text by year's end, but buy-side concerns about dark pools remain.

Bank traders could be subject to approved persons rules

Wed, 19 Jun 2013 12:24:44 GMT

Banks' proprietary trading desks are facing tough recommendations to change their culture and could become part of the approved persons regime, according to the Banking Commission's latest report.

First Hong Kong listing for a renminbi bond ETF

Tue, 18 Jun 2013 14:31:06 GMT

The iShares RMB Bond Index ETF, Asia's first offshore renminbi bond exchange-traded fund, listed on Tuesday in Hong Kong. It follows a strong month for the asset class, as inflows into Asian ETFs increased to US$4 billion in May from US$1 billion in April.

ITG launches algo viewing tool

Mon, 17 Jun 2013 16:55:24 GMT

Buy-side traders will have greater visibility of automated trading decisions with a web-based tool launched by execution and research broker ITG that displays real-time metrics including the venues algorithmic orders access.

Traiana expands post-trade ‘translation’ tool

Mon, 17 Jun 2013 16:31:15 GMT

Traiana has expanded its Harmony ClientLink’s to equities and fixed income markets, allowing brokers to receive clients’ post-trade data through one gateway, regardless of the messaging preferences.

LSE plots swaps venue through MTS

Mon, 17 Jun 2013 16:13:58 GMT

London Stock Exchange-owned Italian fixed income trading venue MTS will launch a UK-based market for interest rate swaps, as regulatory frameworks for such venues emerge in Europe and the US.

Brokers told to integrate high- and low-touch

Mon, 17 Jun 2013 15:06:02 GMT

Buy-siders are keen to see integrated high- and low-touch services from brokers and enhancing synergies between the two roles will be key for broker development in coming years, according to new research from consultancy Woodbine Associates.

Repo market under threat

Mon, 17 Jun 2013 11:47:28 GMT

As European Union members consider implementing a financial transaction tax, the effect it could have on the repo market is seen by some to be a serious threat to market liquidity.

ICE adds interval price limit circuit breaker

Mon, 17 Jun 2013 11:23:08 GMT

Intercontinental Exchange (ICE) Group's ICE Futures US exchange has today launched interval price limit (IPL) functionality on futures contracts.

Goldman exec joins Tora to co-head liquidity services

Mon, 17 Jun 2013 9:03:44 GMT

Technology provider Tora has hired Brian Tafaro in a new role to support sales in Japan of liquidity services and provide client coverage, in tandem with additional similar responsibilities for the rest of Asia.

HFT impacts minimal, report finds

Fri, 14 Jun 2013 16:24:44 GMT

High-frequency trading (HFT) makes up just a small percentage of the market, despite a common perception that is has become widespread, according to research by brokerage Abel/Noser.

Swap futures up, but Eris takes long-term view

Fri, 14 Jun 2013 13:05:04 GMT

A mild boost to swap futures volumes on Eris Exchange since Monday's OTC derivatives clearing deadline for buy-side firms is minor compared to long-term expectations, the venue said.

Data handling ‘critical’ for hedge funds

Fri, 14 Jun 2013 12:51:01 GMT

Handling and aggregating large volumes of trade data is becoming a critical issue for hedge funds, industry experts have warned.

Bloomberg sole SEF applicant so far

Fri, 14 Jun 2013 12:04:28 GMT

Almost a month after the Commodity Future Trading Commission's (CFTC) publication of its rules for swap execution facilities (SEF), the only applicant is the regime's leading detractor.

Council MiFID stance limits buy-side dark trading

Fri, 14 Jun 2013 11:37:32 GMT

Pan-European regulatory regime MiFID II was yesterday jolted forward as the Council of the European Union's final position emerged, although dark pool use for the buy-side will be significantly reduced.

ASX takes a step forward on OTC derivatives clearing

Fri, 14 Jun 2013 9:00:18 GMT

ASX Group, the owner of the Australian Securities Exchange, has moved ahead with its plans to launch OTC derivatives clearing and a collateral management service.

House backs foreign derivatives exemption

Thu, 13 Jun 2013 16:50:09 GMT

The US House of Representatives has approved legislation that would exempt foreign derivatives trading by US firms from federal oversight, raising hopes that US regulators will relax their proposals.

Australian dark pool volumes slump by a third

Thu, 13 Jun 2013 15:29:47 GMT

Last week's cash market report from the Australian Securities Exchange appears to show a sharp decline in dark pool volumes following new rules on price improvement introduced at the end of May by the Australian Securities and Investments Commission.

LSEG board hires reflect expanding role

Thu, 13 Jun 2013 15:26:16 GMT

The London Stock Exchange Group has appointed the chairman of the International Swaps and Derivatives Association and the chief risk officer at Deutsche Bank to its board.

Nasdaq OMX expands Nordic SOR offering

Thu, 13 Jun 2013 10:54:57 GMT

Nasdaq OMX Nordic has expanded its smart order router (SOR), enabling it to offer trading in all shares across all five Nordic countries.

SGX hire latest in global post-trade plan

Thu, 13 Jun 2013 8:28:01 GMT

Singapore Exchange has appointed a new post-trade head as it continues to position itself ahead of changes to Asia's clearing and settlement environment.

Kepler Cheuvreux unveils execution offering

Wed, 12 Jun 2013 14:31:28 GMT

Newly formed European agency broker Kepler Cheuvreux has integrated its operations and will leverage its Continental presence and CA Cheuvreux's execution tools to drive trading operations.

Valuation challenge may thwart Euronext sale

Wed, 12 Jun 2013 14:05:28 GMT

Plans to dispose of markets operator Euronext after IntercontinentalExchange (ICE) acquires its parent firm NYSE Euronext has attracted widespread interest, but establishing a precise value for the entity will prove difficult, an expert has warned.

ISDA/FOA swaps clearing template an “important” step

Wed, 12 Jun 2013 14:01:59 GMT

A standard contract for buy-side firms and their clearing members "will make life easier" when clearing OTC derivatives across central counterparties, according to those involved.

AIFMD creates conundrums for Asian fund managers

Wed, 12 Jun 2013 12:56:21 GMT

Law firm Deacons gives its thoughts about how the ability of European investors to access Asian markets via its local buy-side managers will be affected by the Alternative Investment Fund Managers Directive.

DB Autobahn goes mobile

Wed, 12 Jun 2013 11:38:01 GMT

Deutsche Bank has extended the pre-trade components of its Autobahn trading platform to mobile devices, which will give buy-side traders greater access to trading information.

EMIR derivatives reporting likely delayed to 2014

Tue, 11 Jun 2013 17:29:04 GMT

The expected start date for derivatives reporting has been delayed by the European Securities Markets Authority to at least November – but one potential trade repository says it's now unlikely for reporting to begin before 2014.

Report reveals lack of sell-side algo knowledge

Tue, 11 Jun 2013 14:03:34 GMT

Execution consultants need to get a better handle on how their algorithms work in order to secure business, according to buy-sider participants.

Forest to head up EnterNext SME market

Tue, 11 Jun 2013 12:06:58 GMT

NYSE Euronext has appointed Eric Forest to be chairman and CEO of its SME marketplace, EnterNext.

Nice Systems launches proactive comms surveillance

Mon, 10 Jun 2013 16:47:59 GMT

Technology specialist Nice Systems has launched an automated communications surveillance system for trading floors.

Brokers support derivatives clearing standard

Mon, 10 Jun 2013 15:41:17 GMT

The International Swaps and Derivatives Association (ISDA) has signed up the first four firms to support its initiative to develop standardised reporting for cleared OTC derivatives.

Thomson Reuters positions OTC services as rules hit

Mon, 10 Jun 2013 15:11:29 GMT

Financial data information provider Thomson Reuters has acquired an OTC derivatives analytics software firm as its Tradeweb subsidiary begins pre-trade swaps checks for the buy-side.

Pressure mounts on CFTC to extend cross-border exemption

Mon, 10 Jun 2013 13:14:21 GMT

A group of six US sell-side associations has petitioned the Commodity Futures Trading Commission to extend a cross border exemption for swaps rules that expires next month.

End-investor in the crosshairs

Mon, 10 Jun 2013 11:29:33 GMT

In its current draft form, a potential pan-European financial transaction tax will hit pension funds alongside other market participants, which has both buy- and sell-side firms questioning the core aims underpinning the levy.

Nasdaq OMX appoints Billing to head Stockholm exchange

Fri, 07 Jun 2013 13:40:28 GMT

Nasdaq OMX has elevated Magnus Billing to president of Nasdaq OMX Stockholm to help guide the exchange through regulatory changes.

NLX shows buds of growth

Fri, 07 Jun 2013 13:35:09 GMT

In its first week of operation, new European listed derivatives trading venue Nasdaq OMX NLX has shown an initial steady growth in trading volumes.

Buy-side unprepared ahead of OTC clearing deadline

Fri, 07 Jun 2013 13:09:13 GMT

With the latest OTC derivatives clearing deadline due on Monday in the US, concerns remain that buy-side firms and third-party technology providers are not ready for the increased regulatory burden.

Otkritie reshuffles to prepare for Russian growth

Fri, 07 Jun 2013 13:08:45 GMT

Russian broker Otkritie Capital has elevated its head of repo and treasury to CEO as part of a staff reshuffle. The firm is preparing to meet the growing demand for Russian instruments linked to efforts to modernise the country's equity capital markets.

TriOptima links to DTCC for swaps portfolio reconciliation

Fri, 07 Jun 2013 13:07:14 GMT

Data reconciliation firm TriOptima will link to the Depository Trust and Clearing Corporation to support data verification and help market participants with portfolio reconciliation for OTC derivatives.

SWIFT signs CLSA as first Asian user of global electronic confirmations

Fri, 07 Jun 2013 9:01:23 GMT

SWIFT, the financial messaging provider, has struck a deal with Asian brokerage CLSA to become the first Asian broker to go live on SWIFT's global electronic trade confirmation product.

Academics give thumbs down to dark pools

Fri, 07 Jun 2013 8:55:09 GMT

The Sydney-based Capital Markets Cooperative Research Centre (CMCRC) has looked into North American dark pools. Its findings are likely to generate some controversy.

Instinet hires head of Asia Pacific sales trading

Fri, 07 Jun 2013 8:50:55 GMT

Instinet, the Nomura-owned execution-focused brokerage, has hired Karan Wadhera as head of regional sales trading, reporting to Shaun Bramham. He will be based in Hong Kong.

Buy-side expects 20% cost hike from OTC regs

Thu, 06 Jun 2013 13:05:51 GMT

Clearing and collateralisation costs are set to increase by up to 20% as a result of regulation, according to research from consultancy Celent.

FIX launches high speed trade review

Thu, 06 Jun 2013 9:26:20 GMT

Standards body FIX Protocol Limited is calling on trading venues and other stakeholders to take part in a review of how FIX could be used to support high performance trading.

Radical reform needed to sell-side business models

Thu, 06 Jun 2013 9:10:18 GMT

Brokers need to adapt their business models to better reflect the evolving needs of institutional clients and "radically" cut their cost bases, according to a raft of research released this week.

MarketAxess adds CDS data to BondTicker

Tue, 04 Jun 2013 12:58:38 GMT

Trading platform and technology provider MarketAxess has added live intra-day data for credit default swaps (CDS) to its BondTicker data service.

BlackRock and Euroclear reform iShares ETF settlement

Tue, 04 Jun 2013 11:48:14 GMT

iShares’ exchange traded funds will soon be issued and settled at international central securities depository Euroclear Bank for the first time.

Eris tweaks swap futures to attract buy-side flow

Tue, 04 Jun 2013 11:45:37 GMT

US futures market Eris Exchange, one of three US exchange operators that championed swap futures last year, has reduced the notional size of the instruments by 90% ahead of next week's swap clearing mandate.

GFI plans expanded offering with new hire

Tue, 04 Jun 2013 10:48:07 GMT

US wholesale broker and market operator GFI Group has indicated an expansion of electronic trading services with the appointment of James Toffey as global head of electronic markets - a new position in the firm.