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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...
13 days ago,(2018/09/11)
Peter Fredriksson wrote a new blog post titled What to expect at the FIX Nordic Trading Briefing
By Peter Fredriksson, Chairman og Baymarkets AS, Norway    The 9th FIX Trading Community Nordic Trading Briefing is just around the corner and this year’s conference promises to live up to the event’s reputation for stimulating and informative discussion, with a Nordic twist.  MiFID II is on everyone’s minds and we’ll be looking at what market participants need to know to thrive in a post-MiFID II environment. But the event covers much more than that, with a wide array of issues from technology and the cloud, to commodities and clearing. A great...
19 days ago,(2018/09/05)
Matthew Lempriere wrote a new blog post titled Bringing the World to Sydney
By Matthew Lempriere, Head of Asia Pacific at BSO Networks Advances in technology and connectivity have significantly accelerated global participation in Sydney’s liquid futures market. Almost 15,000 kilometres of land and ocean lie between Chicago and Sydney, making the two cities about as far apart as any of the major financial centres. In previous generations, it would have been almost inconceivable that a Chicago-based trader could easily access Australian securities or vice versa. Yet now, with little more than the click of a button and the use of a low-latency network, traders...
20 days ago,(2018/09/04)
Matthew Lempriere wrote a new blog post titled Connecting stock exchanges and global trading with China
By Matthew Lempriere, Head of Asia Pacific at BSO Networks Last month, BSO opened new offices in Hong Kong and Singapore, and I’m very excited to have joined the firm at this point in its journey to spearhead the Asia Pacific expansion. It’s a great time to be joining, with the markets in Asia Pacific evolving so rapidly, and with so many opportunities opening up in the region. One of the important developing areas is of course China. Historically, the Chinese stock market has been a difficult market for Western investors to access. Equally, Chinese investors have faced a...
26 days ago,(2018/08/29)
The Realization Group wrote a new blog post titled Navigating low-latency trading technology in India
India has taken a big step forward in widening its low-latency trading community. The Securities and Exchange Board of India (SEBI) in March announced regulatory changes designed to let more firms trade via shared managed colocation services. The move, SEBI said, would benefit small- and medium-sized firms that may have been prohibited from such trading previously due to costs and lack of expertise. Ahead of the 2018 FIX India Conference, The Realization Group spoke to some of the  panellists of the morning session ‘Taking a Closer Look at Low Latency Trading – Technical...
25 days ago,(2018/08/30)
Michael Woodman wrote a new blog post titled To realise the potential of AI in finance, users need to grasp the scale of the problem
How the cloud will help AI and machine learning systems flourish in the finance space. In Douglas Adams' sci-fi novel The Hitchhikers Guide to the Galaxy, an alien invasion fleet arrives on Earth intent on ousting humanity. But, owing to a vast underestimation of scale, the invader's entire fleet of mighty attack ships is swallowed … by a small dog. I was reminded of this failure to grasp the size of the issue at hand when hearing some of the inflated, over-ambitious claims being made for artificial intelligence (AI) in the banking and finance sector. Because, just as in Adams'...
29 days ago,(2018/08/26)
Peter Fredriksson wrote a new blog post titled Clearing without a guarantee fund?
The need to provide a guarantee fund has long been a deal-breaker for frontier and emerging financial markets, given the sizeable investment required to create one. New approaches however, are allowing operators of these markets to implement the necessary clearing functionalities without having to put such a guarantee fund in place.   The “CCP-light” model Recent developments in clearing applications now provide rich functionality such as real-time risk calculations and cross-asset margining via low-cost delivery models, allowing an entity to act as a settlement...
33 days ago,(2018/08/22)
Michael Woodman wrote a new blog post titled Why it’s time the finance sector ditched its legacy infrastructure
Are you still running legacy infrastructure simply because it continues to work, not because it's the best way to do business today? Ever known someone who insisted on driving a beaten-up old car until it pretty much fell apart? You know the sort: as long as it works, they'd argue, why scrap it? Some finance organisations are doing something similar: running their middle and back office processes on legacy infrastructure simply because it continues to work, not because it's the best way to do business today. And according to market researcher McKinsey, many of the finance sector's...
67 days ago,(2018/07/19)
Ollie Cadman wrote a new blog post titled Many sources of liquidity, many sources of uncertainty
We are six months into a European trading and investment landscape redrawn by MiFID II. But it’s still too early to tell with any certainty where liquidity will flow. In truth, we may not have a clear picture even by the end of the year. This is partly down to the sheer scale and scope of MiFID II, but also because of the staggered timetable for rolling out a central feature of this new landscape: systematic internalisers (SIs), the mandated mechanism for bilateral liquidity provision. Suffice to say, the high degree of uncertainty demands that all market participants keep their...
85 days ago,(2018/07/01)
big xyt wrote a new blog post titled Identifying outliers in equity trading – why it matters
Identifying outliers in equity trading – why it matters By Mark Montgomery, Strategy & Business Development, big xyt Enormous volumes of data might be the lifeblood of quantitative analytics, but for the typical trader, dealing with data in any asset class can be complex, costly and daunting. With the explosion of data in recent years and the continuing appearance of new data sources, the challenge for practitioners is growing all the time and they need the power to identify and extract the data that is most relevant to them. Attempting to isolate data using standard spreadsheets...
85 days ago,(2018/07/01)
Vela wrote a new blog post titled Avoiding collateral damage: an intelligent approach to pre-trade risk
By Gerry Turner - Global Head of Platform as a Service at Vela For many financial trading firms, having a robust pre-trade risk system is likely to feel like one of those unpleasant but unavoidable costs of doing business. A fair amount of pain, not very much gain. Consider the potential upside. Gaining any kind of competitive advantage from having an in-house pre-trade risk system can be extremely expensive. Anything that offers demonstrable benefits typically will involve FPGA technology and a high amount of cost in terms of development and ongoing operations. Then consider the...
89 days ago,(2018/06/27)
The Realization Group wrote a new blog post titled Roundtable Report: Systematic Internalisers: Challenges and Opportunities in the MiFID II era
Discussion hosted by The Realization Group, led by Vela, Aquis Exchange and Hudson River Trading, on May 23, 2018 MiFID II is intended to deliver better outcomes for end-investors across Europe, by increasing transparency, consumer protection and competition, while reducing cost, risk and conflicts of interest. To achieve these aims, the new directive introduces some major reforms to Europe’s equity markets: common transparency and reporting rules; tougher best execution requirements; and a limit on trades that don’t contribute to price discovery. At six months in, it’s too...
89 days ago,(2018/06/27)
Shiran Weitzman wrote a new blog post titled Managing eComms Compliance
From tactical to strategic, from compliance to efficiency, from data capture to best execution. Under MiFID II rules all communications that support the processing of order management and investment decision-making must be captured for the express purpose of understanding how and why decisions were made, regardless of whether those communications actually resulted in a trade. This means that compliance officers have to sift through a haystack of digital information for the needles that indicate patterns of market abuse or misbehaviour. However, identifying those patterns is no small...
91 days ago,(2018/06/25)
Fidessa wrote a new blog post titled Algo Wheels and Analytics – Are the Sell Side meeting the Buy Side's needs?
Following on from my last article – Low Touch Trading – The Transition from Algos to Service, I had the chance to reflect on another area covered at the recent FIX Conference. During my panel on the changing needs of the Buy Side from the OMS/EMS perspective, we polled the audience to see if the Buy and Sell Side aligned regarding technology priorities. Question: What is the Buy Side's top technology priority with respect to their order flow. As you can see, the results indicated a considerable disconnect between both side's focus, and what followed was a great...
110 days ago,(2018/06/07)
Fidessa uploaded a media item titled Algo Wheels 110 days ago,(2018/06/07)
The Realization Group wrote a new blog post titled Driving the institutional Cryptocurrency market
Two key trends have come to the fore in the global currency markets, particularly in the last 12 to 18 months, with both potentially resulting in sweeping changes to how, where and even why FX is traded. The second of these shifts, namely the growth of cryptocurrency, was explored in greater depth by a panel of FX industry professional held in May at The London Stock Exchange – hosted by The Realization Group and sponsored by BSO. The Realization Group’s Mike O’Hara began the second part of the panel discussion by noting that most activity in the cryptocurrency space has...
112 days ago,(2018/06/04)
The Realization Group wrote a new blog post titled The Future of FX: Seizing the Asian opportunity
Two key trends have come to the fore in the global currency markets, particularly in the last 12 to 18 months, with both potentially resulting in sweeping changes to how, where and even why FX is traded. The first of these shifts, namely the growth of FX trading in Asia, was explored in greater depth by a panel of FX industry professionals held in May at The London Stock Exchange – hosted by The Realization Group and sponsored by BSO. Facilitated by The Realization Group’s Mike O’Hara, the event began by discussing which new centres in Asia offer the greatest potential...
112 days ago,(2018/06/04)
The Realization Group wrote a new blog post titled Changing landscapes: Electronic trading picks up the pace in commodity markets
While electronic trading, technology and related infrastructures are now a well-established, if not essential, part of highly-liquid markets such as equities or spot FX, the rate of adoption has been markedly slower in the commodities space. But the past year in particular has seen a notable upturn in demand for electronic trading, from both newer entrants as well as more established venues. Nicola Tavendale and Mike O’Hara of The Realization Group talk to Ollie Cadman of Vela, Jamie Turner of the London Metal Exchange, Andrew Polydor and David Perkins of TP ICAP, Fraser Bell of BSO and...
117 days ago,(2018/05/31)
The Realization Group wrote a new blog post titled HPC strategies for financial services: The playing field widens
Produced by The Realization Group in association with Verne Global Introduction The financial marketplace today is dominated by growing regulatory requirements, constantly changing liquidity conditions and increasingly complex asset-class strategies by firms across the spectrum. In such an environment, it’s no longer only top-tier banks that need vast amounts of high performance computing (HPC) capabilities to handle the huge number of calculations needed for risk management, trade idea generation, compliance or a host of other functions that sell-side and buy-side organisations carry...
119 days ago,(2018/05/29)