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The Trading Mesh

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The Voice of the Future? Flexible Trading, Lower Cost, More Value

April 18, 2016 by The Realization Group   Comments (0)           

For many market participants, the deal only becomes real when there is a voice at the other end of a line. Despite the proliferation of electronic markets, voice trading is still proving to be alive and well. Yet, historically speaking, the provision of voice-based broking and trading services has been a costly, cumbersome business with little scope for operational flexibility or evolving compliance needs.
However, technological innovation, an increasingly tough competitive...

Voice-based trading systems take a big leap forward

April 17, 2016 by Matthew Lempriere   Comments (0)           

Markets may have become increasingly electronic in the 21st century, but there is still a sizeable portion of the trading community that relies on voice-based systems. The mistake that many financial firms make is in thinking these two ways of trading are mutually exclusive. Is it possible to have the deal-making flexibility of voice while still enjoying the technological benefits of electronic systems? The answer is definitely yes, thanks to a new breed of voice-based systems. In the...

Using Algorithms to Reduce FX Costs on Overseas Equities Trades

April 11, 2016 by Dr Paul Lynch   Comments (0)           

This article originally appeared on the itarle blog and is reproduced here with permission
By Dr Paul Lynch, CEO & Founder, itarle AG
Many UK and US-based investment managers who trade equities look overseas - particularly towards emerging markets – in their search for alpha. However, as those markets generally settle in their home currency rather than US Dollars, fund managers are often left holding a position in a currency that they don’t actually want when...

Demystifying Research Payment Accounts (Part One)

March 21, 2016 by Amrish Ganatra   Comments (0)           

By Amrish Ganatra

Any day now, the European Commission (EC) will officially release its long-awaited draft of the MiFID II “Delegated Acts”, part of which will refer to the unbundling of commission payments.

Although a leaked draft of this document has been circulating around the market, investment firms are still looking for answers.

What will change under the Delegated Acts? 
What exactly is a Research Payment Account (RPA)? 
How will firms account for...

New initiatives in compliance technology

March 17, 2016 by The Realization Group   Comments (0)           

In this article, Mike O’Hara, publisher of The Trading Mesh, asks a panel of experts – Telstra’s Matthew Lempriere, enepath’s Huw Williams, Steve Garrood of Insightful Technology, Andrew Bowley of Nomura, Sam Tyfield of Vedder Price and Citihub’s Bob Mudhar – to assess the new initiatives being adopted in the area of compliance technology, and investigates how firms can best pull together all the necessary data they need for trade reconstruction under...

Ensuring traders pass the test of MiFID II and MAR

March 17, 2016 by Eddie Thorn   Comments (0)           

By Eddie Thorn, Director of Capital Markets, SQS
A change in the legislation landscape
With recent changes to the Markets in Financial Instruments Directive (MiFID II), tighter regulations are on the horizon. All firms using any form of trading algorithm need to invest in a new way of testing their algorithms or face ceasing trading as MiFID II places stringent algorithm testing requirements on both buy and sell side investment firms. Ultimately, it’s the senior management who will...

Blockchain in Financial Services: Six Real-World Pilots

March 17, 2016 by Candyce Edelen   Comments (0)           

By Candyce EdelenThis article first appeared on the PropelGrowthBlog and is reproduced here with permission

Blockchain is a technology that creates a distributed ledger. Originally developed to facilitate Bitcoin transactions, many in financial services view it as a technology that could revolutionize transaction processing. It can represent a universal truth as it makes ledgers transparent, trustworthy and efficient.
According to Larry Tabb, “The interest in blockchain from the...

Addressing Technology Needs Around Trading Room Compliance

March 14, 2016 by Matthew Lempriere   Comments (0)           

Modern trading rooms have become more and more complex in recent years. Decisions regarding what, where, when, how and with whom to trade are based on a wide variety of data sources. The incoming data flow of prices, news, analysis and other relevant information is constant. Trades can be executed in many different ways as traders communicate with their clients and counterparties via multiple channels, including dealerboard turrets, electronic order and execution management systems, instant...

Are You Ready for MAR?

March 10, 2016 by Stefan Hendrickx   Comments (0)           

In less than four months (3rd July) the European financial services industry will be confronted with more stringent rules regarding market abuse with the implementation of the Market Abuse Regulation (MAR) on 3rd July.  Firms engaged in OTC derivative trading and algorithmic trading will for the first time need to prove they have automated surveillance capabilities in place.  Meanwhile, other market operators and investment firms will most likely have to re-architect their internal...

Generating Alpha Using IPO & Secondary Issue Data

March 10, 2016 by Deltix   Comments (0)           

By Stuart Farr, Deltix
The markets are currently in a risk averse state, at least in part as a consequence of rapidly-evolving geopolitical issues and slowing market growth in China. As a result, the IPO and secondaries markets slowed in late 2015 and have remained sluggish in the first quarter of 2016. Nonetheless, companies will still need access to the capital markets this year, even if it is not at a frenzied pace. 
Trading IPOs and Secondaries
Developing a strategy...