By Ivy Schmerken Eighteen months after MiFID II rules to unbundle research payments from executions have been in force in Europe, U.S. asset managers are dealing with uncertainty around paying for research and how to compete with global firms that adopt the EU rules. Many US asset managers are evaluating the need for increased transparency …
By Ivy Schmerken, Editorial Director A wave of consolidation has hit high-speed trading firms and brokers in the past few months, and many are blaming low volatility and weak trading volumes in the face of rising compliance and market data costs. Starting with electronic market-maker Virtu’s acquisition of rival KCG in April, Two Sigma Securities …
by Ivy Schmerken, Editorial Director There is still uncertainty around the fate of the Order Protection Rule, a key rule governing U.S. stock trading that has led to more complexity, speed and order types, but also protects retail investors from receiving inferior prices on their orders. Also known as the trade-through rule, Rule 611 …
It’s no secret that institutional traders are utilizing transaction cost analysis (TCA) for equities trading as a tool for measuring execution quality and reducing slippage against trading benchmarks. But now that TCA has matured in equities, the question is where is TCA moving next?
Transaction cost analysis has been the Holy Grail of best execution in equities trading, but the evolution of TCA in foreign exchange trading must consider the OTC nature of currency markets.
FlexTrade is proud to announce its has been shortlisted in eight categories of this year’s Wall Street Letter Institutional Trading Awards.
For institutional asset managers, measuring foreign exchange trading costs has become imperative as the global FX market moves electronic. The emergence of FX transaction costs analysis (TCA) is directly attributable to the spread of algorithmic trading from equities to other asset classes, with FX being the prime class next in line. However, there are hurdles to overcome in …
Waters Technology Awards Trying to pinpoint the best algorithmic or direct market access (DMA) provider to the buy side is a lot like picking among multiple choice answers on a law school entrance exam: Almost all of them seem right, depending on your line of argument, but only one can be best among them. Indeed, …
This morning’s note is intended to give a cursory refresher course on how VWAP works, talk about how typically our industry has gone about trying to improve VWAP performance, and finally to tell you how we think the industry should go about trying to improve VWAP performance. History Volume Weighted Average Price (VWAP) institutional trading …
Buy-side customers to gain aggregate view of broker liquidity and improved trade execution capabilities through integration of Autex Indications of Interest data and FlexTrade Execution Management System in Thomson Reuters flagship financial markets desktop NEW YORK, LONDON, May 20, 2014 – Thomson Reuters today announced that it has enhanced equities and futures trading capabilities in …
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