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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.
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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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CAT Compliance Ramps Up on Sell Side with Interfirm Linkages
While adhering to the CAT reporting timeline, sell-side firms are responsible for monitoring the CAT Reporter Portal and for fixing errors and rejects that come back from FINRA. So far, experts say the industry is doing very well with their data submissions. But error rates could escalate as the industry tackles more thorny order events and submits higher volumes of data.
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The Buy Side’s Hunt for Bond Liquidity
Aggregation tools that pull in direct pricing streams and RFQs into an execution management system (EMS) or order management system (OMS) are becoming a critical part of creating a composite view of the fixed-income market.
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FlexTRADER EMS Now Offering Liquidnet Targeted Invitations
FlexTrade Systems, a global leader in multi-asset execution and order management systems, announces direct availability of Liquidnet’s Targeted Invitations in its multi-asset trading blotter for equities. The functionality provides traders with targeted natural liquidity from other Liquidnet buy-side members and selected brokers, directly into the parent order blotter.
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AI and Machine Learning Gain Momentum with Algo Trading & ATS Amid Volatility
With the hiring of data scientists, advances in cloud computing, and access to open source frameworks for training machine learning models, AI is transforming the trading desk. Already the largest banks have rolled out self-learning algorithms for equities trading.
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Globally Distributed Teams Prove Vital in Pandemic
Banks and asset managers relied on global teams to backup and transfer workloads during the pandemic. But, in moments of crisis, exposure to operational risks, model risks, cybersecurity attacks, and fraud can increase exponentially.
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Factor Strategies React to Crisis-Induced Volatility
In volatile markets, asst managers were monitoring portfolios in real-time to determine how factors were behaving and affecting risks in their portfolios.
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Reforming the SIP with Odd Lots and Competing Consolidators
With attention riveted on volatile stock and bond markets and the economic fallout from the COVID-19 pandemic, brokers and asset managers are focused on keeping up with the high volumes of market data and trades. With so many unknowns, the situation could impact market data reforms to overhaul the securities information processor or SIP.
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FX Algos Gain Adoption on the Buy Side as Best Ex and TCA Fuel Change
With the proliferation of algorithms in currency markets and regulatory pressure to prove best execution, buy-side trading desks are adopting algorithms to source liquidity and lower trading costs in FX trading.
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Unlocking Data Silos to Reach the Promised Land of Smart Data Analytics
With mountains of market data, historical prices, and transactions data stored in disparate systems, securities and investment firms are shifting from a focus on collecting data to extracting value from it. But the problem is that most of these huge and large data sets are siloed in legacy system architectures.