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The Trading Mesh

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Hirander Misra wrote a new blog post titled Blockchain, cryptocurrencies and ICOs – Where are we headed?
Being agile and adaptable in this fast-moving market is essential, and a single month in ‘blockchain-land’ is equivalent to 6-12 months in the traditional world. The technology is fundamentally game-changing and should be used to facilitate high impact change. Sometimes second-mover advantage is beneficial; learning from first-mover successes and mistakes allows us to optimise or design something much better. Think digital watches: the UK invented them, but the Japanese perfected them and by mass marketing the output, Casio was able to dominate the market globally. Of course,...
4 days ago,(2018/11/14)
Andrew Walton wrote a new blog post titled The Buy-side and Outsourced Trading in Europe
Buy-side firms can improve execution and save costs by outsourcing all, or parts, of their trading operations. Andrew Walton, head of European business at Tourmaline Partners, shares his experience and observations. For many investment firms, managing their trading infrastructure can be a costly and complex challenge. Experienced trading professionals must be recruited, technology needs to be maintained and updated and brokerage counterparties must be reviewed on a regular basis.  New regulatory requirements only add to the cost and compliance burden for buy-side managers.  For...
5 days ago,(2018/11/13)
Hirander Misra wrote a new blog post titled The Death of Exchange 1.0 and advent of Digital Exchange 2.0: more than just the matching engine
In order to generate development and innovative change, we must question and challenge what is already before us. It is not as simple as taking the next step up the ladder or adding to what you already have, it is about stripping a business model back to the basics, clarifying what you want to achieve and doing so by taking a completely different path. So what does this mean in the context of exchanges and financial market infrastructure? A good place to start is to learn from the past to see what might happen in the future: After the emergence of electronic markets, exchanges, for some...
5 days ago,(2018/11/12)
Wesley Cooper wrote a new blog post titled Data: Asset or Liability – regulatory compliance data innovation
In this series of blog posts, we explore how the next generation of intelligent regulatory reporting solutions are delivering insights far beyond their original purpose. This second feature in the series looks at the importance of managing data as an asset, and hidden risks that should be mitigated to prevent it becoming a liability. The wave of complex regulatory compliance requirements, combined with advancements in ‘big data’, has created an explosion of data that financial services firms collect, store and report. In our previous blog, we looked at how to maximise the data...
9 days ago,(2018/11/09)
Mark Montgomery wrote a new blog post titled Maximising double volume cap data
The introduction of the double volume cap (DVC) mechanism as part of MiFIR has heralded a new era in European equity trading, limiting for the first time the universe of securities that can be traded on dark pools. Nearly eight months on from the first DVC suspensions, we can begin to assess how the new regime is working and how the market is adapting. When it first kicked off the DVC framework in March 2018, the European Securities and Markets Authority (ESMA) acknowledged that data quality and completeness issues had delayed implementation by two months, but since then it has kept its...
9 days ago,(2018/11/09)
Steen Blaafalk wrote a new blog post titled Why regtech is key to scalability in financial services
The new era of regulatory requirements triggered by the global financial crisis presents the financial industry with many challenges. Regulation and technology are two of the most important mega-trends that have shifted the tectonic plates of global finance. In the wake of the financial crisis, authorities across the globe have introduced a wave of new, comprehensive and more prudent regulation. Banks must either adapt their operations and ride this wave of new regulation or try to patch together existing systems and workflows. The latter could work from a compliance point of view but the...
9 days ago,(2018/11/09)
Steve Barnes updated their profile icon
10 days ago,(2018/11/08)
Tom Fulford-Brown wrote a new blog post titled Singapore's thriving FinTech environment
BSO recently became a member of the Singapore FinTech Association, and the country’s third FinTech Festival next month (November) highlights why this makes perfect sense in such a thriving fintech environment. This year, there will be 60 finalists competing at the festival, selected from 500-plus applicant firms across 40 countries. Forward-looking regulator The Monetary Authority of Singapore (MAS) actively encourages fintech innovation, and has highlighted that more than half of the FinTech Festival finalists come from the Association of Southeast Asian Nations, thanks to the new...
11 days ago,(2018/11/07)
Akhil Shah wrote a new blog post titled Energy traders can reap the benefits of an eye in the sky
Picture the scene: A tropical storm has wended its way along the Gulf Coast of the United States, one of the more refinery-rich stretches of land in the developed world. Or imagine rumours are circulating of a build-up of troops in the Persian Gulf. Or perhaps an OPEC member has just announced a production cut but has not given details. Any of these developments has the potential to roil energy markets, and for a simple reason. They’re all extremely supply-sensitive pieces of information. But this kind of news brings a lot of uncertainty with it. How much supply are we actually talking...
18 days ago,(2018/10/31)
The Realization Group wrote a new blog post titled Roundtable report: Practical steps for successful innovation within Capital Markets
Roundtable discussion hosted by The Realization Group, led by Ascendant Strategy, TreoTrade and Nomura on 3 October, 2018 The importance of creating a culture of innovation has long been recognised in the capital markets industry, but why this can prove hard to achieve continues to be a matter of some debate. The reasons given for these difficulties can also be complex and seemingly insurmountable, from long procurement cycles through to lack of diversity within larger organisations – and everything inbetween. Yet instead of focusing only on the hurdles, it may now be time to embark on...
23 days ago,(2018/10/26)
Steve Barnes wrote a new blog post titled How to turn data into diamonds – regulatory compliance data innovation
In this series of blog posts, AQMetrics explore intelligent regulatory reporting solutions and how the next generation of  solutions are delivering insights far beyond their original purpose. This first feature in the series looks at the importance of data innovation, and the hidden value that can be realised from data assets. Changes to regulatory reporting regimes have focused attention on the process by which data is gathered. Distilling fund data into a format that can be used for regulatory reporting is a challenge for managers, particularly those whose funds are administered by...
24 days ago,(2018/10/25)
Gerry Turner wrote a new blog post titled Pressing the PaaS button
Why it’s time to look at derivatives platforms in a new way Investment banks have generated impressive revenues this year, thanks in part to strong cash equities trading.[1] But long-term trends in the derivatives markets tell a different story. Figures from the Bank for International Settlements show the market value for rate, currency and equity-linked contracts almost halving to around $11 trillion from more than $21 trillion during the latest two-year period for which data are available.[2] For any firm involved in derivatives markets, all of this boils down to two words: margin...
34 days ago,(2018/10/15)
Peter Fredriksson wrote a new blog post titled FIX Nordic Trading Briefing 2018: Evaluating Change and Finding Opportunities
The past twelve months have witnessed some of the most significant changes ever to take place within the Nordic financial markets, with many key market dynamics having altered in the process. As such, the return of the FIX Trading Community Nordic Trading Briefing, now in its 9th year, was a highly-anticipated event on the calendar for many in the industry, myself included.   This year’s excellent opening address was delivered by Kerstin Hermansson, Managing Director of the Swedish Securities Dealers’ Association (SSDA). Kerstin has led the association since 2006...
34 days ago,(2018/10/15)
Wall Street Horizon wrote a new blog post titled Using Corporate Event Data to Navigate Low-Latency in Equity Options: Strategies for Institutional Traders and Market Makers
Introduction   Options remain the closest community of market participants, and the murkiest. Even to its veterans, the options market can seem uncanny; its trading has always been full of mystery. Rumors abound of big-wins and equally huge losses turning on a dime, and there is common sleight of hand. It evolves at its own pace. But wild swings and tectonic shifts can also be born of simple mistakes. Such was the case in 2015, when a pair of microprocessor manufacturers was first reported to be in merger talks[1]. In only a few seconds, the news quietly generated a sizable option...
40 days ago,(2018/10/09)
Denver Currie wrote a new blog post titled Who killed the Kernel?
Delivering outstanding performance with SolarFlare EF_VI High performance algorithmic trading involves sophisticated software and hardware components operating in harmony to effectively accomplish market operations. Traders are continually seeking faster market data and order execution services with lower slippage to more accurately qualify their orders. As volumes continue to rise, firms are faced with increasing levels of throughput while still needing to maintain their current or even lower latency targets in order to stay competitive. FPGA and hardware solutions have become popular for...
44 days ago,(2018/10/05)
Andy Mather wrote a new blog post titled AI & Machine Learning – Working smarter, not harder
Many of the most promising applications for Artificial Intelligence (AI) and machine learning technologies are about protection and establishing control. Fraud detection, risk management and compliance, for instance, are some of the ways these technologies are starting to make a real difference for banks and other financial institutions operating in global markets. It helps to start by differentiating between AI and machine learning. Put simply, AI is the broader science of computing that aims to emulate natural intelligence and cognitive functions, whereas machine learning is the subset of...
47 days ago,(2018/10/02)
Shiran Weitzman wrote a new blog post titled Filling in the blanks: Supporting RegTech innovation with data
Since the launch of the UK Financial Conduct Authority’s regulatory sandbox in 2016, several other global regulators have followed suit in a bid to address some of the key issues around regulatory technology. And with the influx of new regulations continuing unabated, the need for innovative solutions to the challenges facing financial institutions has also never been more pressing. Yet while this need is widely recognised by not just the rising ‘RegTech’ sector but also by regulators and the capital markets firms, the rate of adoption continues to lag some way behind...
48 days ago,(2018/10/01)
Andy Mather wrote a new blog post titled From trade reconstruction to unique business insight – are you making the most of your data?
Today's financial markets require firms to maintain compliance in a rapidly changing environment. While this can be time-consuming, with good quality data practices there is also an opportunity to realise benefits beyond simple compliance. Changing regulations The Dodd–Frank Wall Street Reform and Consumer Protection Act in the US, along with MiFID II and Market Abuse Regulation (MAR) in Europe, are some of the higher-profile regulations introduced in recent years to drive behavioural change across financial institutions. These new requirements can mean financial institutions need to...
58 days ago,(2018/09/21)
James Maxfield wrote a new blog post titled FinTech innovation and the power of keeping it simple
By James Maxfield & Ali Rutherford, Ascendant Strategy Since it was coined by the US Navy over half a century ago, the ‘keep it simple’ mantra has been adopted by many other industries, including the capital markets FinTech sector.   However, when financial firms and institutions embark on a programme to introduce innovation to their existing legacy infrastructure, some firms instead opt to embark on a radical overhaul of their entire technology stack in one huge, complex programme. This invariably leads firms to seek FinTech solutions which can be customised to match...
67 days ago,(2018/09/11)