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The Search for Liquidity in Corporate Debt Markets
This is a contributed article from Andrew Howieson, an advisor to FactEntry. Corporate bond markets are inherently illiquid There is now wide recognition that corporate debt markets lack sufficient liquidity to meet investor trading requirements. Blackrock’s September 2014 paper Corporate Bond Market Structure: The Time for Reform is Now described the trading market structure as…
Talking Intelligent Trading with Andrew Delaney: The European Question
The marketplace is whirring with great minds turning their attention to what the latest ESMA rules for MiFID II actually mean. We’re not sure anyone has completely figured that out yet, but we’ll be watching closely as we’re embroiled in a number of projects that are impacted to various degrees by the latest ESMA utterances,…
Final ESMA Report on MiFID II and MiFIR Technical Standards Recommends XML and ISO 20022 for Regulatory Data Reporting
The European Securities and Markets Authority (ESMA) has published its final report on Regulatory Technical Standards (RTS) for Markets in Financial Instruments II (MiFID II) and Markets in Financial Instruments Regulation (MiFIR). The report covers many aspects of the directive and regulation, and concludes debate over market data reporting, recommending that transaction and instrument reference…
A-Team Data Management Summit: Challenges and Opportunities of Regulation
Regulatory compliance deadlines in January 2016 and 2017 are a challenge for data managers, but also an opportunity to develop data management strategies that deliver business benefits. A panel session at next week’s A-Team Data Management Summit in London will debate these issues and look at how firms are getting ready to meet the deadlines….
Talking Intelligent Trading with Andrew Delaney: News You(r Execution Server) Can Use
We enjoyed an electric session this week with Bloomberg on what we used to call machine-readable news. Along with our own excellent webinar on Big Data last week – where we heard from, among others, Thomson Reuters Starmine’s Adam Baron on event-driven research – the seminar at Liverpool Street’s Andaz Studio offered some fascinating insight…
Opinion: Which standards for regulating the future?
By Chris Pickles, Co-Chair of FIX Trading Community’s Reference Data Subgroup and Member of the Bloomberg Open Symbology Team This week, ESMA is expected to issue the final technical standards for MiFID II and MiFIR that it will propose to the European Commission for approval. The standards can then be implemented by investment firms in…
LSEG and Boat Prepare MiFID II Trade Reporting Solution
London Stock Exchange Group (LSEG) and Boat Services have joined forces to develop a MiFID II trade reporting solution, but plans may not end there with Boat suggesting the platform could be built out to deliver a utility-type service supporting a number of regulations. Initially, LSEG and Boat have signed heads of terms that will…
Talking Intelligent Trading with Andrew Delaney: MiFID II and the Coming Post-Trade Revolution
Word has it that ESMA is serious about its intention to publish its final guidance on MiFID II this month. With a possible (unconfirmed) publication date of September 24 doing the rounds, the market is bracing itself for a vigorously more prescriptive approach than under MiFID I, with less wiggle room for divergence from the…
Velocimetrics Releases First Major TipOff Upgrade Since TSA Licensing Deal
In its first major release since licensing TS Associates’ TipOff latency measurement system a year ago, London-based infrastructure monitoring specialist Velocimetrics has unveiled a new range of high performance TipOff appliances, one of which offers more than six times the storage capacity of previous appliances. The new appliance range will also underpin future releases of…
New Zealand’s Chelmer Adds Azul JVM to CSS Trading Platform
By Zoe Schiff Azul Systems’ resale agreement with Chelmer will allow the Auckland, New Zealand-based trading systems supplier to offer Azul’s Zing Java Virtual Machine (JVM) to add consistency and scalability to clients’ low-latency infrastructures. The deal also expands Azul’s presence in Asia / Pacific. The relationship stemmed from Chelmer’s desire to address performance issues…