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The Trading Mesh

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The Realization Group wrote a new blog post titled Systematic Internalisers – Data holds key to challenges and opportunities in MiFID II era
MiFID II broadens the scope of the systematic internaliser (SI) regime, not only to cover more asset classes, but also to apply more stringent rules, with the aim of improving pre-trade transparency and improving price efficiency and client executions. To examine the far-reaching consequences and practical implications for liquidity seekers and providers, against a backdrop of tougher Best Execution requirements, Chris Hall and Mike O’Hara of The Realization Group talk to Ollie Cadman of Vela, Citi’s James Baugh, Sun Trading’s Jamal Tarazi (Sun...
19 days ago,(2018/05/04)
Trade Informatics wrote a new blog post titled The new buy side toolkit
From broker and algo wheels to alpha profiling and scorecards, best execution is changing rapidly and traders are enthused by the opportunities ahead Amidst rising costs, squeezed profit margins and onerous regulations, it might not seem the ideal time to be a buy-side trader, but in fact there may never have been a better time. That was the optimistic feeling that emerged from a panel discussion hosted by Trade Informatics, Eze Software and Plato Partnership in London on March 20. With speakers from Liontrust, Barclays, Kepler Cheuvreux, Trade Informatics and Eze Software, it was agreed...
30 days ago,(2018/04/23)
Trade Informatics wrote a new blog post titled Blueprint for best execution
Tools to reduce subjectivity in the selection of brokers and strategies yield new efficiencies and improve performance among asset managers, writes Allan Goldstein of Trade Informatics It is said that there is more than one way to skin a cat, and in this era of heightened transparency and intense drive to achieve best execution, investment firms should bear this in mind. From algo wheels and broker wheels to bracketing and scoring of algos and counterparties, there are multiple ways to implement effective execution strategies. Trading desks must work closely with their portfolio managers to...
36 days ago,(2018/04/18)
BSO wrote a new blog post titled Agility and Ability: Seizing new opportunities in FX
Today’s FX market is almost entirely unrecognisable from the industry it was a mere four or five years ago. By Michael Ourabah, CEO, BSO In a very short space of time, we have seen the dominance of tier-one banks effectively challenged by the rise of leading electronic FX network providers such as EBS BrokerTec, Thomson Reuters or FastMatch. By having established a presence in the key three global FX trading centres – London, New York and Tokyo – and offering low latency connectivity between these hubs, they are increasingly attracting lucrative flow from algo and HFT...
41 days ago,(2018/04/13)
Trade Informatics wrote a new blog post titled Three months on, MiFID II gets a mixed report
After three months, MiFID II still evokes mixed feelings and some components may need to be reviewed, but it has had some positive effects More than three months have passed since MiFID II was implemented across Europe, but it is still far from certain that the comprehensive new rulebook is actually improving execution services and transparency for end investors. At a panel discussion hosted by Trade Informatics, Eze Software and Plato Partnership in London on March 20, representatives of brokers, investment managers and software providers agreed that MiFID II so far has given rise to...
41 days ago,(2018/04/13)
The Realization Group wrote a new blog post titled Taking the Leap into Asia and Cryptocurrencies: The Future for FX Trading?
As the world’s largest financial market, the ability to swiftly identify and capitalize on key trends in foreign exchange is crucial – which is why the BIS Triennial Central Bank Survey of global FX trading is one of the most significant datasets currently produced for the capital markets. The latest report, published in September 2016, underscored a particularly noteworthy shift for many participants in this space, namely the increase in market share for Asia’s three key FX trading hubs – Tokyo, Hong Kong and Singapore – from 15% to...
44 days ago,(2018/04/09)
Mark Schwarz wrote a new blog post titled Binance Recent Announcements
With a 24-hour trading volume of $1.76 billion, Binance.com is ranked as the world's largest cryptocurrency exchange. Launched in July 2017, Binance has risen to become one of the most popular exchanges in the world. In recent months, the Hong Kong-based website has dominated both positive and negative news. On February 8, 2018, Binance made headlines after temporarily shutting down its trading platform for a system upgrade. While it’s normal for any company to launch an upgrade of their systems, such news in the cryptocurrency space elicits mixed opinions. Suspension of trading...
45 days ago,(2018/04/09)
Commcise wrote a new blog post titled Addressing the Trans-Atlantic research dilemma
By Melissa Umans, Director of Business Development, Commcise Paying US-based broker-dealers for research is not without challenges for UK-based asset managers. The Challenge: In Europe, MiFID II requires buy-side firms to pay for research either as a direct payment from their P&L or from a ring-fenced Research Payment Account (RPA). For a US-based broker dealer to accept payments in hard dollars or through MiFID-governed research payment accounts from MiFID-affected clients, under the Investment Advisers Act of 1940 (Advisers Act) the U.S. Securities and Exchange...
50 days ago,(2018/04/04)
Ollie Cadman wrote a new blog post titled When Dark Pools Go Dark
By Ollie Cadman, Head of Business Operations Vela Trading volume is rapidly shifting from dark pools to block trading venues under MiFID II, so market participants need technology to access multiple platforms. It is less than three months since the recast Markets in Financial Instruments Directive (MiFID II) came into effect and European markets are already changing. New block trading venues that had been slowly ramping up in recent years have now been fully unleashed, gaining traction as dark trading is curbed under the MiFID II regime. Double Volume Caps The double volume cap (DVC),...
50 days ago,(2018/04/04)
Denver Currie wrote a new blog post titled MiFID II: Illuminating the Dark
By Denver Currie Product Manager Vela MiFID II is already more than two months old, but while Systematic Internalisers (SIs) and Approved Publication Arrangements (APAs) create a framework to improve transparency, firms need the right technology to navigate the post January 3rd marketplace. Two months on from the implementation of the second Markets in Financial Instruments Directive (MiFID II), it seems a good time to pause and take stock of the new regime. This was one of the most fundamental changes to the European market structure in years, so reviewing how it is working will be...
56 days ago,(2018/03/29)
AQMetrics wrote a new blog post titled Effective Data Management in a Fragmented Market
By Breige Tinnelly, AQMetrics Our recent conversations with compliance and risk managers at investment management firms have highlighted a common pain point, which is how to put in place the right kind of technology platform to cater for both existing and future regulations. While their focus has naturally been on the most pressing compliance concerns ushered in under MiFID II, AIFMD and SEC Modernization (to name but a few) the reality is that a piecemeal approach to compliance is unsuitable for the fragmented regulatory changes that the industry now faces. And fragmentation exists on a...
62 days ago,(2018/03/23)
GMEX Group wrote a new blog post titled The Next Frontier In Exchange Trading Systems (part 2 of 4)
By Hirander Misra, CEO of GMEX Group and Chairman of GMEX Technologies Being a financial exchange services provider has rarely been as hard or competitive as it is today. As the business models for exchanges continue to evolve, the technological requirements to run an exchange – be it established or a new entrant – are shifting as well. Modern exchanges need to meet a variety of requirements to service clients, from providing low latency and agile platforms to offering flexibility with regards to language, trading methods, and data models covering a wide variety of asset classes....
64 days ago,(2018/03/21)
Shiran Weitzman updated their profile icon
69 days ago,(2018/03/16)
big xyt wrote a new blog post titled Winning business by navigating through the new liquidity landscape
By Robin Mess, CEO, big xyt MiFID II offers a fresh start for business relationships in capital markets. By reframing the way in which dealers and trading venues seek to manage and match client trades it is implicitly changing where buy-side firms choose to route and execute their orders. A new framework The new directive, and its sister regulation MiFIR, have established a new regulatory framework for trading venues by categorising any trading mechanism as either a regulated market (RM), multilateral trading facility (MTF), organised trading facility (OTF) or systematic internaliser (SI)....
76 days ago,(2018/03/09)
GMEX Group wrote a new blog post titled Rewiring today’s exchanges and post trade to forge tomorrow’s market success (Part 1 of 4)
By Hirander Misra, Chairman & CEO, GMEX Group The pressure is on for market operators to meet the widening expectations of customers as technology presents new efficiencies and opportunities. Market participants are seeking exchanges that can provide the latest in electronic trading and post-trade infrastructure. Not only that, they’re looking for operators who are future-proofing those services with platforms that can adapt to, and incorporate, new innovations such as Blockchain as well as connect with a broad range of external technologies. In this series of blogs, we will...
78 days ago,(2018/03/07)
The Realization Group wrote a new blog post titled Alpha profiling, strategy toolkits, broker scorecards: The keys to best execution?
Various tools are emerging to help buy-side firms optimise their broker selection for best execution. Examples include algo wheels, broker scorecards and bracketing frameworks that allow for effective monitoring of broker performance on an ongoing basis. Joel Clark and Mike O’Hara of The Realization Group discuss the most effective use cases for alpha profiling and the challenges that may be associated with such an approach. They talk to Dan Royal of Janus Henderson Investors, Allan Goldstein of Trade Informatics, Michael Broadbent from the Ergo...
80 days ago,(2018/03/05)
AQMetrics wrote a new blog post titled Risk Reporting challenges Algo Trading Firms
By Geraldine Gibson, CEO, AQMetrics Sweeping new rules and technological advances have given regulators unprecedented insights into the markets they’re charged with overseeing. A constant stream of high-quality information from exchanges around the world is arming regulators with the analytics necessary to rigorously enforce this year’s MiFID II rules. Gaining access to the same breadth of market intelligence can prove difficult for investment and trading firms. Market data vendors do a fantastic job of gathering and distributing data, but they typically specialise within...
82 days ago,(2018/03/02)
Shiran Weitzman wrote a new blog post titled MiFID II is here but the regulators have only just got started
MiFID II may have come a little too quickly for some companies. Its scope, the slow pace of its formulation and the myriad interpretations of its applications and implications meant much of the EU’s financial services industry had to rush through changes to comply with it. Many firms struggled to meet the January 3 deadline despite hundreds of City workers spending the Christmas break – their holiday leave cancelled – rushing to put processes in place in time for the 3 January deadline. That so many companies were ready in time is an achievement in itself, given that a...
99 days ago,(2018/02/14)