The results so far: Equities rebounding as market stays primed for continued macro uncertainty
The TRADE rounds up the current state of play across banks’ Q1 trading and markets results, featuring: Citi, JP Morgan Chase, Jefferies, and Wells Fargo.
Sell-Side
Morgan Stanley cross-asset futures execution co-head to join Liquidnet
Incoming individual will co-head Liquidnet’s futures business in the Americas alongside Brian Cashin.
Barclays names new head of securitised products bond trading
Incoming individual has previously served at: Merrill Lynch, Credit Suisse, and Atlas SP Partners.
Two thirds of prop trading firms plan to trade new exchanges this year
Sentiment is soaring following a strong start to the year with 24% ‘very optimistic’ about the Q2 outlook as firms look to further expand their reach, according to the latest Acuiti report.
BNY Mellon to enable buy-side to direct repo trades at point of execution
Tie-up with GLMX comes off the back of growing demand from clients seeking to expand their BNY Mellon triparty usage beyond uncleared margin into repo financing.
Smoke and mirrors: The growth of two-way pricing in fixed income
Annabel Smith explores the market’s growing interest in the request for market protocol, including the desire to shroud market impact, use cases, and whether or not it will ever become fully applicable for the buy-side when trading credit.
Saudi Exchange welcomes Merrill Lynch to growing list of market makers
Merrill Lynch becomes the fourth market maker to be onboarded since July last year, as well as being the first international market maker to conduct market making activities on Saudi equities.
JP Morgan fined almost $350 million for reporting inadequacies across ‘billions of instances of trading activity’
Office of the Comptroller of the Currency (OCC) is ordering the bank to correct the deficiencies before onboarding new trading venues.
Vienna Stock Exchange adds Jump Trading as its newest trading member
The total member count has now grown to 70, including 21 Austrian and 49 international banks and securities firms.
Major investment banks and asset managers partake in landmark blockchain pilot
Landmark pilot from Digital Asset’s Canton Network involving 45 organisations across 22 permissioned blockchains invited participants across 45 organisations to try 22 dApps to exchange tokenised securities, money market funds, and deposits across applications.