As the growth of digital assets continues at a rapid pace, Wesley Bray explores its influence on traditional finance, market structure and trading practices, and looks at what can be learned from the asset class.
For the South African derivatives market to be improved, panellists highlighted bettering liquidity, technology and increasing settlement times for more uniformed trading as key drivers.
Panellists discussing the future broking model in South Africa unpacked the role that the liquidity landscape, regulation, technology spend, and collaboration will play on its development.
The decision follows an agreement reached by the European Union and Parliament concerning the Mifid/Mifir review in June last year.
New rules would require certain hedge funds active in the Treasuries market to register as dealers as the US regulator looks to reform the $26 trillion market.
Market participants have until 29 April to provide comments; ESMA will publish its final report in Q4 2024.
With Emir refit implementation set to come into force in April for the EU with the UK to follow in September, The TRADE spoke to Thomas Steimann, chief executive of SIX’s Regis-TR to unpack the readiness of those market participants trading over the counter (OTC) derivatives markets, the key implementation considerations across both sides of the Channel, and what the firms should prioritise going forward.
Testing schedule began in August 2023, providing industry players nine months and 21 cycles of testing ahead of scheduled shift to T+1 in May.
The platform – which is backed by Goldman Sachs and Dawn Capital – has become one of the first digital asset tech providers to receive the authorisation.
Fenics Markets Xchange combines BGC’s low latency electronic trading platform for US Treasuries, Fenics UST, and FMX US futures trading on one platform.