Insights
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CAT is Out of the Bag
Despite a one-year delay and other missed deadlines, the order-tracking system known as the Consolidated Audit Trail is back on track as exchanges were due to begin reporting required equities and options data into the CAT on Nov. 15.
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BIG Data: Getting Granular with ESG Factors
Despite some of the weaknesses in company-published ESG data, big data and artificial intelligence have enabled the construction of new data sets for analyzing investments.
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A.I. on the Fast Track
In the future, analysts will consult artificial intelligence software to crunch big data, find historical precedents, and run statistics to predict what lies ahead, all within a few minutes.
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Data Science Platforms Help the Buy Side Integrate Alternative Data
Asset managers are looking for ways to mine alternative data sets for investment ideas, recognizing that stock pickers cannot rely on traditional research.
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MiFID II Reaches Across the Pond: Is This the Calm Before the Storm?
Despite the view that MiFID II is a European regulation, US investment managers are experiencing disruption as they align their research payment and execution practices with the influential standard.
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Treasury Trading Evolves with Bilateral Streaming
Electronic trading in the US Treasury secondary market is evolving and shifting, as non-bank liquidity providers and dealers participate on venues that offer bilateral streaming on a disclosed basis.
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Buy Side Juggles Efficiency and Workflow in Search for Corporate Bond Liquidity
Corporate bond investors are seeking operational efficiencies on their fixed income trading desks to lower costs. As the search for liquidity across a fragmented credit trading marketplace remains a priority,-side firms are grappling with two distinct workflows – voice-based and electronic – in the $8 trillion corporate bond market.
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Algo Development 2.0 Looks to Open Source, Cloud & Big Data
In the next five to 10 years, don’t be shocked if hedge funds begin to outsource their algorithms to a team of quants coding in Python using the cloud and open source tools.
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Global FX Code Gains Adoption but Last Look is a Thorny Issue
Over 200 market participants have signed the FX Global Code of Conduct, a voluntary set of principles published a year ago to restore trust and curb bad behavior in the wholesale foreign exchange market.
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Equity Market Innovation Leads to Venue Proliferation
Several startups are planning to launch either new venues or order types, and even listing standards, to solve problems in US equity trading. FlexTrade’s Ivy Schmerken investigates.
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SEC Steers Pilot on Equity Trading Fees and Rebates Amid Headwinds
Diving into one of the more controversial issues in equity market structure, U.S. regulators are moving forward with the transaction-fee pilot that will force stock exchanges to lower the fee caps on rebates they pay to brokers and market makers.
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MiFID II Post-Mortem Cites Delays on LEIs and Data Quality as Key Challenge
With the rollout of such a massive regulation as MiFID II, there are bound to be some hiccups, but so far firms are mainly wrestling with trade reporting and data quality issues. That sentiment was expressed on a webinar hosted by A-Team Group, MiFID II Trading Technology Requirements: What Worked and What Hasn’t? in which panelists aired their views on the most challenging aspects of the implementation and areas that need improvement.