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The Trading Mesh

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Trading Strategy Portability

June 19, 2015 by Object Trading   Comments (0)           

This article was originally published at the Object Trading blog, and is reproduced here with permission. By Steve Woodyatt

Over the last few weeks, I’ve been writing about how buy-sides can improve the ROI of their R&D processes. Today we’ll talk more about incremental improvements by making strategies more portable.
Most innovation is incremental. Instead of inventing completely new systems, much of a buy-side’s R&D budget is focused on making small...

The Tomorrow People

June 19, 2015 by Fidessa   Comments (0)           

This article was originally published at the Fidessa blog, and is reproduced here with permission. By Steve Grob

Josh was in high spirits, trading had been good that day. He had downloaded an algo app overnight that allowed him to arb Google dollars against Apple iCoins. It was no longer any use, of course, as by now everyone else had downloaded it too. But his edge had been that his simulator had processed it faster than anyone else. This was required by the regulator to...

Is FIX Moving to the Cloud?

June 16, 2015 by The Trading Mesh   Comments (0)           

In this article, Mike O’Hara asks Brian Ross and Jim Timmins of FIX Flyer, Sassan Danesh of Etrading Software, Digital Realty’s Stef Weegels and Rob Bath, and Toby Corballis of Bridline to consider the future role of managed services in increasing the efficiency and reducing the cost of the FIX connectivity infrastructures of banks and brokers. 
For many securities market participants, FIX is part of the furniture. Starting life...

Why the Buy Side Needs Pre-trade TCA

June 8, 2015 by Software AG   Comments (0)           

By Theo Hildyard

In my previous blog post, I mentioned that one of the key themes that came up repeatedly amongst panellists at the TradeTech 2015 conference was the desire amongst the buy side to take greater control of their pre-trade and at-trade analytics, both in terms of Transaction Cost Analysis (TCA) and risk calculations.

I’ve covered the topic of pre-trade risk a number of times in this blog series already, so today I’d like to focus more on the TCA side of things,...

What Lies Beneath

May 21, 2015 by Celoxica   Comments (0)           

By Michel Finzi

Without competition there would be no need for innovation.  Innovation results in new products, new functionalities and new markets, all of which force industry participants to make important decisions, such as which markets to operate in, which business opportunities to pursue, grow or exit, and which competitive forces to react to. Most businesses today are bombarded with a seemingly endless stream of options that need to be constantly evaluated in order to move...

Making waves: breaking down barriers with ultrafast networks

May 15, 2015 by The Trading Mesh   Comments (0)           

In this article, Mike O’Hara and Adam Cox of The Realization Group investigate the development of new, ultrafast wireless communication networks for trading financial markets. Mike speaks with Stéphane Tyč, CEO of network provider McKay Brothers, while Adam talks with Tariq Rashid, a long-time data centre executive, and with Alexandre Laumonier, who has published extensive analysis of the state of play in the microwave industry. Together, they describe a fast-changing,...

MiFID II deadlines under further pressure

May 15, 2015 by Regulation Matters (Fidessa)   Comments (0)           

By Christian Voigt

The European Commission (EC) and ESMA have agreed on an improved process to draft the Level 2 texts for MiFID II. On the back of those discussions, ESMA asked for a 3-month extension on their own deadline to submit draft technical standards and the EC granted it. While the next Level 2 drafts will now not be published until September 2015, the benefit is that further changes are less likely. It is certainly better for everyone that ESMA and the EC avoid...

Having your regulatory cake and eating it

May 15, 2015 by Fidessa   Comments (0)           

This article was originally published at the Fidessa blog, and is reproduced here with permission. By Steve Grob

This morning I read with interest a colleague’s blog post on the delay to the publication of the ESMA technical standards from July back to September. Whilst I appreciate that these things are complicated, it seems hard to understand how this won’t delay the implementation date without potentially increasing the very risks the regulations...

Guarding Against a Future Flash Crash

May 12, 2015 by Fixnetix   Comments (0)           

Written by Jason Mochine, Commercial Director at Fixnetix.  

The technology is available but until we use it global markets remain at the mercy of the financial hounds.

On the 6th May 2010 the Dow Jones Industrial Average index nose-dived by 6 per cent in just a few minutes. With no more warning, the Dow recovered nearly all of its earlier losses, leaving traders and regulators scratching their heads. 
Navinder Singh Sarao is thought to have played a key role in this Flash...

Cleared for launch: A new era for OTC derivatives

May 11, 2015 by The Trading Mesh   Comments (0)           

In this article, Mike O’Hara of The Realization Group talks to Hirander Misra of GMEX, Luke Hickmore of Aberdeen Asset Management, Nomura’s Lee McCormack and Byron Baldwin of Eurex Clearing, about the challenges – and alternatives – facing asset managers as they contemplate central clearing of OTC derivatives in Europe for the first time.
Buy-side users of OTC derivatives face many uncertainties as they prepare for mandatory...