Best execution
Choose your execution: Traders tout benefits of algos for ETFs
In a space dominated by RFQ protocols, trading desks are exploring hybrid strategies for executing ETF orders.
Waters Wrap: On EMSs, regulation, and (among others) BlackRock Aladdin
Regulators in the US and Europe have turned their sights on execution management system providers. Anthony examines some of the questions the industry is trying to answer.
What is Aladdin Trader? BlackRock’s fixed-income tool still a mystery
Sources tell WatersTechnology that Aladdin Trader will expand on the platform’s ‘limited’ execution functionality.
Goldman’s Marquee is a gradual revelation
Multiple apps are being corralled into a sticky cross-asset ecosystem, updated with Python and cloud
Terminal velocity: MarketAxess bets on algo trading as electronification of fixed income gathers speed
MarketAxess hopes to bring fresh ideas from other asset classes with acquisition of multi-asset algorithm provider Pragma.
Shall we compare thee to a multilateral trading venue?
As regulators confirm that perimeter guidance applies to tech firms, the focus shifts to enforcement.
Outsourced trading sees uptick as buy side seeks more bang for its buck
Buy-side firms see outsourced trading as a way to simplify their operating model, while custodians see an opportunity to sell bundled services.
Automation in fixed income: Sorting the bluster from the bleeding edge
Automation is gaining traction in fixed-income markets, but use cases are limited and progress is slow. Market participants must overcome some uniquely human problems before they fully embrace the machine.
No big boost to UK dark trading after Brexit
Expected explosion in hidden equity liquidity has failed to materialize
Regulation Best Ex: Investors’ ‘new bestie’ or just extra hassle?
The SEC's proposed best execution regulation has ruffled some feathers. With a host of key details still to be resolved, industry experts say the rule in its current form could represent a big change in the way orders are handled.
SEC’s $5M Bloomberg BVAL fine targets ‘dark magic’ in fixed income pricing
Recent actions against Bloomberg and Ice for violations relating to evaluated pricing services suggest the US regulator may be setting the stage for stricter regulations to govern the sector.
Waters Wavelength Podcast: Fixed income execution & innovation
This week, Spencer Lee, chief markets officer at TS Imagine, joins Tony on the podcast to discuss execution issues and innovation within the fixed income space.
Howson on steering Cboe past potholes and traffic cops
The head of the world’s largest options exchange discusses SEC regulation and SPX appeal.
UK divergence on trading venue perimeter threatens more costs and a complex compliance landscape
The FCA is in the middle of a tug of war over the definition of a trading venue. Will it diverge in a bid to present itself as a competitive market internationally or align with its EU partners?
SEC deadline raises existential questions for US market data
This month, the commission must decide on a fee filing under its market data modernization efforts. Jo wonders how likely we are to see those efforts materialize any time soon.
MarketAxess completes migration of Deutsche Börse’s reg reporting businesses
The market operator has onboarded about 500 new clients and aims to create new revenue streams to ease the ongoing cost and margin pressures.
Market data plans revive proposals to move odd lots onto Sips
Consultation on democratizing odd lots data closes next week, but more solutions to order protection concerns may be needed.
Shaking things up in the dark: Vendors build new tools for dark-pool trading in Asia-Pacific
New conditional order venues could bring more liquidity and sophistication to dark pool trading in the region.
This Week: T+1; FlexTrade/TradeFeedr; SimCorp/Snowflake; and more
A summary of some of the past week's financial technology news.
Data-Driven Execution—Looking Back to See Forward
Reviewing favorable outcomes and attempting to replicate them is by no means a new concept across the capital markets. Portfolio managers, execution professionals and risk managers use this principle to drive their decisions, although it is really only…
Six partners with BMLL for best execution analysis
The Swiss exchange is using the vendor's data and analytics to provide insight to brokers around Swiss EBBO liquidity.