Analysis
Getting Ready To Meet The CICI Deadlines
Two important dates for adopting the US precursor to the legal entity identifier will soon be here. JP Morgan's Robin Doyle presents the steps firms need to take in response
Circuit Breakers Adequate for Flash-Crash Prevention
A recent report by London-based consultancy GreySpark Partners has found that circuit breakers and venue controls on algorithms should be sufficient measures to control aberrant behavior related to algorithmic trading, without a need for further…
Updated: SAC Capital Settlement, Investigation Widens
SAC Capital’s $616 million compounded penalty handed down by the Securities and Exchange Commission (SEC) is an enormous number, but the outcome is both manageable for SAC and, given previous insider investigations, expected. Just the same, other funds…
Outsourcing: An Example from Marriage
Gone are the days when buy-side firms could choose an outsourcing service provider and then "leave them to it." Today, the process is much more like a marriage, with both parties in it for the long haul.
Chan and Donahue of Fidelity Capital Markets Talk Dark Liquidity Sourcing
Not all dark pool liquidity is the same, says Fidelity Capital Markets' VP of product development, Derrick Chan. Each dark pool brings some unique liquidity to the table. But he has also found a good deal of repackaged liquidity. And just as a lion doesn…
Citadel Technology Preps End-to-End Solutions Suite
Over the next year, Citadel Technology will begin rolling out new risk and compliance solutions, and coupling portfolio construction with its order management capabilities.
First Derivatives Plans FX SEF Launch
First Derivatives has announced that it will register as a swap execution facility (SEF), dealing with foreign exchange (FX) swaps that fall under incoming US regulatory mandates.
EMCF to Combine with EuroCCP
European central counterparty clearing houses (CCPs) EuroCCP and EMCF will combine their operations this year to create a single entity for cash equities clearing, subject to regulatory approvals.
SEF Infrastructure Unaffected by RFQ Rules Kerfuffle
A joint ISDA–Sifma poll shows near universal dislike for a CFTC proposal on SEFs, but it turns out the regulator has already changed its tune. In this respect, at least, SEFs are safe from a mass exodus.
Infrastructure Isn't Everything, But It Helps
High-frequency traders continue to find value in emerging markets, but just how important is a city's existing infrastructure?
Banks, Broker-Dealers Falling Behind on T2S Preparation
A recent Celent report has found that while parts of the European financial services industry are getting ready for the implementation of the Target2-Securities (T2S) settlement platform, others are lacking preparedness and facing large costs.
Operating Model Rethink Required, Says Milestone Chief
Buy-side institutions can increase efficiency and reduce costs by changing to dynamic operating models, according to Geoff Hodge, CEO of Milestone Group, which provides software to the funds management industry.
OMSs, EMSs Need to Embrace Data Visualization
At the TradeTech conference in New York last week, a panel discussed transparency, multi-asset capability, and the future of trade management systems.
Visions of a Corporate Genome Map
The CFTC interim identifier may not be enough of a spark, but other bright lights illuminate ways to map entities, says Wipro's Jennifer Ippoliti
Resources and Regulations Produce Pressures for European Firms
European regulators’ demands are realistic, but the incremental technology-related changes they are proposing will significantly impact overall market structure and liquidity, say panelists who spoke at last week's FIX Protocol Ltd. (FPL) EMEA Trading…
For Emerging Markets, Electronic FX Trading Requires a New Mindset
Although the electronic trading of non-deliverable forwards (NDF) in emerging markets is growing, it needs higher participation and a shift in attitudes to become prevalent, panelists at FIX Protocol Limited's EMEA Trading Conference said last week.
VC Funds Focus on Data Analytics and Research
Venture capital (VC) funds are turning toward analytics and research providers as the supply of low-latency and alternative liquidity sources has surpassed critical mass.
Risk, Cost and Geographical Concerns Limit Shorter Settlement Moves
As Europe moves towards T+2, or settling two days after trade date, moves to further shorten settlement cycles are unlikely to be mandated by regulators, panelists and attendees at the FPL EMEA Trading Conference said last week.
FPGA Straight Talk: Benefits Tempered by Expense, Programmer Dearth
Mohammad Darwish's company, AdvancedIO Solutions, sells field-programmable gate array (FPGA) technology. But you wouldn't know it from hearing him talk—he does not sugarcoat the hardware's flaws.
SEF Rule Delays Present Issues and Opportunities
Panelists at the 2013 FIX Protocol Limited (FPL) EMEA Trading Conference in London yesterday said that the delays over finalized rules for Swap Execution Facilities (SEFs) in the US are leading to over development on platforms and an uncertain regional…
Nasdaq Economist: Equities' Electronic Opacity Inhibits Confidence, Growth
At TradeTech East this week, Nasdaq OMX chief economist Frank Hatheway offered a blunt assessment of what's needed to pull the global economy back to into “a virtuous cycle of expansion.” Providing a clearer view into electronic equities trading is one…
ICAP Exec: Europe Can Align OTFs with SEFs
Incoming regulation in the European Union that reforms over-the-counter (OTC) derivatives trading has the opportunity to sync up with analogous US legislation, an executive from interdealer broker ICAP said yesterday at FIX Protocol Limited's 2013 EMEA…
Nomura Research Institute: 60 Seconds with Shin Kusunoki
Shin Kusunoki, corporate senior vice president and financial and asset management systems division manager, Nomura Research Institute (NRI)
Benchmark Boom Pushes Data Managers To New Approaches
The increasing volume of index and benchmark data coming from more sources is inciting firms to find new ways of managing the data, according to a survey of end-users conducted by Rimes Technologies