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The Trading Mesh

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Resilient Stress Testing Platforms: Top 4 Considerations

September 30, 2015 by Percentile   Comments (0)           

 
By Anthony Pereira, CEO, Percentile
 
“Bank of England May Toughen Stress Tests as Economy Rallies,” claimed the Bloomberg Business headline on 28 July.  Deputy Governor Jon Cunliffe explained in a speech that the Bank of England’s approach would be to use stress testing more countercyclically: “Rather than testing every year against a scenario of constant severity, the severity of the test, and the resilience banks need to pass it, would be greater...

What’s missing from ESMA’s report?

September 29, 2015 by Regulation Matters (Fidessa)   Comments (0)           

By Christian Voigt

Yesterday saw the publication of ESMA’s long-awaited report on the technical standards for MiFID II / MiFIR. As well as reviewing every single word of this impressive tome – 1,532 pages spread across three documents – we should consider the wider scope and take note of what the report does not cover too.
Comparing the drafts from December 2014 and February 2015 with yesterday’s texts, it suggests that ESMA still needs...

What to expect when you’re expecting ESMA

September 23, 2015 by RSRCHXchange   Comments (0)           

By Vicky Sanders, co-CEO, RSRCHXchange
23 September 2015
[also available online: http://rsrchxchange.com/what-to-expect-when-youre-expecting-esma/]

As we eagerly await  the final verdict on unbundling under MiFID II, here is a list of 10 things we can expect for research while we’re expecting ESMA’s much-anticipated release.

1. January 2017 is here to stay
The delay of the final text from the original June deadline, was the subject of much attention earlier this...

New trading hubs a ‘game changer’ for emerging markets

September 23, 2015 by Digital Realty   Comments (0)           

 
By Robert Bath, VP of Global Solutions
 
This post originally appeared at the Digital Realty Blog and is reproduced here with permission
 
It’s not every day a company gets to truly transform a market. Yet, with our newly announced partnership, Digital Realty is poised to do just that.
In partnership with trading technology specialist GMEX Technologies Limited (GMEX Tech), we have plans to establish a network of emerging market trading hubs around the globe. The...

Searching for Handsome Returns – Can Turkey Still Deliver?

September 22, 2015 by BSO Network Solutions   Comments (0)           

Michael Ourabah, CEO, BSO Network Solutions As is customary in the ongoing search for profit opportunities, high frequency traders often look to emerging markets to leverage a country’s surging growth. However, while returns can be attractively high, traders should always keep a wary eye on whether a fledgling economy risks taking a tumble, which could lead to gains being eroded in a short space of time. Turkey has stood out among these emerging economies in recent years. In 2011, its GDP...

Miffed with MiFID

September 16, 2015 by Software AG   Comments (0)           

 
By Nigel Farmer
 
Last week FOW hosted a regulation event in London with presentations and panel discussions covering a range of topics with a strong focus on Mifid II
 
With submission of the final draft of ESMA’s regulatory technical standards (RTS) being delay by three months, there was much concern over the challenging deadline. Many firms have already started implementation of yet to be finalized rules in order to be compliant come the 3rd of January 2017....

BATS auctions off the block problem

September 11, 2015 by Fidessa   Comments (0)           

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

There has a been a lot of talk about how to trade blocks that are smaller than the LIS waiver but that are still too big to go to regular lit markets. The debate has been ratcheted up by the 4 and 8% dark pool caps that are part of the MiFID II spectre looming above us all. One approach, of course, is to chop your block into smaller pieces with an algo but this is...

"There Can Be No Great Accomplishment Without Risk"

September 3, 2015 by Celoxica   Comments (0)           

 
By Antoine Rescourio
 
 
Within the last few years, firms operating in the equities and exchange-traded derivatives (ETD) markets have placed an increasing amount of focus on the area of pre-trade risk. Rules such as SEC 15c3-5, the ‘Market Access Rule’ introduced into the US securities markets in 2010, and the ESMA Guidelines released in Europe the following year, have led the way in requiring firms to run ‘in-line’ checks and controls around their...

Why The OTC Markets Need a New Approach to Software Development

August 25, 2015 by Klas Ekwall   Comments (0)           

As regulatory initiatives around the world drive today’s Over-the Counter (OTC) markets towards an ever more connected, more electronic trading model, firms operating in the space are having to rapidly adapt and evolve.
 
One of the net results of this evolution is that fundamental shifts are now taking place in how technology is utilised, requiring new approaches to software development.
 
As a specialist provider of OTC trading solutions, Baymarkets identified very quickly...

Sentiment Analysis: Where Next?

August 18, 2015 by Software AG   Comments (0)           

 
By Nigel Farmer
 
In follow up to my recent blog post about market abuse and banking culture, it’s worth noting that the new Senior Managers Regime (SMR), designed to improve individual accountability in the banking and finance sector, has now come into force in the UK. According to the Bank of England’s Prudential Reporting Authority, the SMR “is aimed at supporting a change in culture at all levels in firms through a clear identification and allocation of...