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The Trading Mesh

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Many sources of liquidity, many sources of uncertainty

July 1, 2018 by Ollie Cadman   Comments (0)           

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....

Identifying outliers in equity trading – why it matters

July 1, 2018 by big xyt   Comments (0)           

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...

Avoiding collateral damage: an intelligent approach to pre-trade risk

June 27, 2018 by Vela   Comments (0)           

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...

Roundtable Report: Systematic Internalisers: Challenges and Opportunities in the MiFID II era

June 27, 2018 by The Realization Group   Comments (0)           

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;...

Managing eComms Compliance

June 25, 2018 by Shiran Weitzman   Comments (0)           

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...

Algo Wheels and Analytics – Are the Sell Side meeting the Buy Side's needs?

June 7, 2018 by Fidessa   Comments (0)           

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...

Driving the institutional Cryptocurrency market

June 4, 2018 by The Realization Group   Comments (0)           

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 Future of FX: Seizing the Asian opportunity

June 4, 2018 by The Realization Group   Comments (0)           

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...

Changing landscapes: Electronic trading picks up the pace in commodity markets

May 31, 2018 by The Realization Group   Comments (0)           

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...

HPC strategies for financial services: The playing field widens

May 29, 2018 by The Realization Group   Comments (0)           

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...