Insights

25
May
21

Fixed Income Trading Desk of the Future

Data is shaping the fixed-income trading desk of the future. Keeping up with the exponential rise in data from inbound liquidity, new issues, and pricing services has become a challenge for asset managers in an OTC market landscape that is shifting and becoming more automated. Demand for data is exploding with the evolution of the …

28
Apr
21

Regulating Fixed-Income Platforms: Separating Fact from Fiction

The fixed-income trading space has exploded with innovation from electronic trading protocols to new pricing services. In recent years, execution management systems (EMSs) have expanded their functionality in fixed income to provide more efficiency and price transparency to the buy side. Now a global conversation is taking place about the regulation of fixed-income electronic trading …

8
Apr
21

Converting Capital Markets to Cloud

By Ivy Schmerken The pandemic has accelerated the trend toward adopting cloud-based market data services and computationally intensive risk analytics, according to analysts on recent capital markets webinars. Despite past concerns over latency and security with the public cloud, many banks and asset managers are using cloud-based market data services and data analytics for historical …

19
Mar
21

Algo Wheel Takes FX Algo Trading to the Next Level

With liquidity fragmented across the foreign exchange landscape and regulations like MiFID II placing more responsibility on the buy side to obtain best execution, there has been an increased uptake in algorithmic trading. According to an October 2020 study on FX execution algorithms by the Bank for International Settlements (BIS), FX execution algorithms today account for an …

25
Feb
21

GameStop Saga Puts Focus on Inaccessible Liquidity

Now experts are saying that ‘inaccessible liquidity’ is costing institutional investors three times as much in transaction costs, and it’s affecting the calculations made by their algorithms such as volume weighted average price (VWAP) and percentage of volume (POV), which rely on overall volumes.

9
Feb
21

Desktop Interoperability on the Trading Desk

Everyone is talking about the desktop interoperability (interop) movement, collaboration, and open Application Programming Interfaces (APIs). It’s a sign of the evolution of the modern desktop in capital markets where traders want a better user experience, more efficient workflows, and seamless data shared across applications. We are seeing the desktop interop movement gain momentum as …

alternative data
13
Jan
21

Alternative Data’s Rising Star in COVID Era

With everyone seeking up-to-the minute data, analysts and investment managers utilized foot traffic from geolocation data to quantify retail sales and disruptions to the global supply chain. The rise of new marketplaces should remove some of the onerous work of sourcing, collecting, and normalizing data feeds from multiple vendors.

15
Dec
20

A Year in Review: Top Blogs in 2020

The rise in off-exchange market share fueled by retail trading, liquidity aggregation on fixed-income trading desks, and how options traders adjusted to all-electronic trading during the pandemic were among the most popular topics. On the technology front, readers were drawn to the adoption of AI and machine learning by algo trading desks, ATSs and Algo Wheels.

fixed income trading
8
Dec
20

Multiple Protocols Boost Liquidity in E-Trading of U.S. Treasury Bonds

Another trend has been the mergers and acquisitions of exchanges and bond trading platforms, and joint ventures between fintech companies and fixed-income venues. Exchanges have been acquiring fixed-income venues over the past few years, which is also driving the consolidation of liquidity pools and e-trading protocols.

16
Nov
20

Equity Market Structure Wrestles with “Inaccessible Liquidity”

Equity market participants are learning about new exchanges, order types, and periodic auctions bringing innovation and competition to the equity trading landscape. Citing the concept of “inaccessible liquidity,” asset managers pointed to the surge of retail trading by mom and pop investors whose orders are executed off-exchange on private platforms.  

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