Trading Venues

Will Fidelity’s new ATS cure the block liquidity blues?

Initiatives such as the planned buy-side only block crossing pool mooted by US giant Fidelity Investments earlier this month reflect the desire of asset managers to make good on their fiduciary responsibility to end-investors, according to Kevin McPartland, principal, market structure and technology at research firm Greenwich Associates.

Credit trading on SEFs led by dealer-to-client platforms

A report from consultancy Celent on swap execution facilities has shown credit products are dominated by one venue, while liquidity in rates instruments remains tightly held by inter-dealer brokers.

HKEx issues results of securities market survey

Hong Kong Exchanges and Clearing Limited has released its annual cash market transaction survey. It shows year-on-year increases in the value of all types of trading in its securities market.

Global FX banks join new platform

Citi and JP Morgan have joined ParFX, the wholesale spot FX electronic trading platform launched in April 2013 by inter-dealer broker Tradition.

Buy-side yet to trade on SEFs ahead of MAT deadline

Despite months of lead time, many US asset managers will next week execute their first swap execution facility trades when mandatory trading begins, although the key test for buy-side firms will be the transition to central limit order book trading, a New York conference heard yesterday.

EU-US deal reached on derivatives trading venues

The European Commission and the Commodity Futures Trading Commission (CFTC) have agreed a deal that allows European OTC derivatives trading venues exemption from US regulations until equivalent European rules come into force.

Margin efficiency will drive interest rate swap futurisation – KCG

Changes in the structure of the interest rate derivatives market will open up the field to new entrants such as KCG, while margin costs will gradually lead to the ‘futurisation’ of the market, according to Isaac Chang, the firm’s global head of fixed income.