Fixed Income

Chi-X deal allows investors to trade Brazil stocks in own currency

International investors will be able to buy and sell Brazilian equities using streaming quotes in their own base currency, following an agreement between exchange technology provider and trading venue operator Chi-X Global and BM&F Bovespa, the Brazilian exchange group.

BaFin imposes naked short-sale ban

German financial regulator BaFin has banned naked short selling on a selected number of securities and instruments as part of efforts to curb speculative trading in the eurozone.

Crisis creates new breed of fixed income broker – Pershing

The global financial crisis has led to the development of a new class of intermediary in the European fixed income market, according to a white paper published by Pershing, a provider of outsourced clearing and execution services.

LSE retail bond trading platform goes live

The London Stock Exchange (LSE) has successfully launched its electronic order book for bonds and has signed three firms to provide market-making services on the new platform.

Newedge names new Asia-Pacific, fixed income heads

Newedge, a multi-asset brokerage and clearing provider, has appointed Laurent Cunin as head of the Asia-Pacific region and Pierre Gay as head of global fixed income, currency and commodities (FICC).

German investors lack confidence in equities – Greenwich

A large percentage of German institutional investors plan to leave their equity allocations at low levels over next three years, potentially relegating equities to the status of a niche asset class in the country for the foreseeable future, according to research and consulting firm Greenwich Associates’ 2009 German Investment Management Study.

Deutsche Börse to challenge bond trading injunction

German exchange group Deutsche Börse will attempt to persuade the Frankfurt Regional Court to lift before the end of the month the injunction that closed its new electronic bond market.

New bond MTF to use BNP Paribas’ post-trade services

Vega-Chi, a planned multilateral trading facility (MTF) for convertible bonds, has appointed BNP Paribas Securities Services, a division of French bank BNP Paribas, as a post-trade partner.

Electronic bond trading in Europe to recover – Celent

Volatility and wider spreads wrought by the financial crisis have pushed more European fixed income trading towards voice-based channels, but an electronic trading resurgence among the buy- and sell-side is underway, according to a new report from research and consulting form Celent.