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FCA Highlights Good and Bad Practice Across Five Areas of Algorithmic Trading

The Financial Conduct Authority (FCA) has released a report on the supervision of algorithmic trading that focuses on five areas of algo trading compliance and highlights good and bad practice observed from cross-firm reviews. The FCA report coincides with publication of a consultation paper by the Prudential Regulation Authority (PRA) on proposed expectations regarding a…

Ullink Partners LiquidMetrix to Offer MiFID II Best Execution Reporting

Ullink has extended its partnership with financial data specialist LiquidMetrix to provide Markets in Financial Instruments Directive II (MiFID II) best execution reporting for its European sell-side clients. The solution, UL Publisher for Best Execution, addresses MiFID II’s requirement for sell-side firms and private banks to produce best execution reports based on data from their…

Trading Technologies Partners Coinbase to Provide Market Access to GDAX

Trading Technologies (TT) has partnered Coinbase, operator of the Global Digital Asset Exchange (GDAX), to provide cryptocurrency trading functionality and market access for the institutional trading world. Beginning in March 2018, TT users will be able to view market data, submit orders, and use the company’s charting and automated trading tools to trade cryptocurrencies on…

FIX Trading Community Releases Response to Cybersecurity Challenge

The FIX Trading Community has released the FIX-over-TLS (FIXS) standard and guidelines to help users of the FIX protocol meet security requirements. FIXS is part of a larger programme of work that the FIX Trading Community initiated in response to the cybersecurity challenge. The issue for members of the community is how to understand the…

Wedbush Futures Migrates Post-Trade Processing to FIS Derivatives Utility

Wedbush Futures plans to migrate the clearing operations processing and technology management of its exchange traded derivatives business to the FIS Derivatives Utility. The plan is to migrate this quarter with a view to gaining greater middle and back-office processing efficiency, as well as simplified regulatory compliance and application upgrades. Wedbush, one of the largest…

ESMA’s First Heisenberg Moment

A blog by Steve Grob, director of group strategy, Fidessa Anyone who has watched the cult TV series Breaking Bad knows that Heisenberg was the clandestine alias adopted by the show’s chief protagonist, Walt White. The ‘original’ Heisenberg was, of course, the brilliant German theoretical physicist who developed his famous Uncertainty Principle. Simply stated it…

MiFID II – Day 1

At last, and after years of preparation, Markets in Financial Instruments Directive II (MiFID II) has gone live – but not quite as expected, with both the UK Financial Conduct Authority (FCA) and the German regulator, BaFin, granting Europe’s largest futures exchanges an extra 30 months to comply with the directive’s rules on trading and…

IHS Markit Prepares SI Register to Support MiFID II Reporting

IHS Markit is preparing a registry of systematic internalisers (SIs) to help market participants comply with Markets in Financial Instruments Directive II (MiFID II) trade reporting obligations. The SI list will go live at the end of November on Markit’s Counterparty Manager web portal and will detail SIs operating across European Securities and Markets Authority…

QuantHouse Makes Trading Technologies Available to Virtu Financial SI Platform

QuantHouse has made its QuantFEED and QuantLINK trading infrastructure technologies available to Virtu Financial’s disclosed systematic internaliser (SI) platform, allowing the Virtu SI to provide firm quotes efficiently and transparently to a wide range of market participants. Virtu Financial is an electronic market maker providing liquidity to the global equity, exchange traded fund, energy, and…

FIX Trading Community Releases Final Guidance on Best Execution Reporting

The FIX Trading Community has issued the final release of its Recommended Practices for Best Execution Reporting as required under Markets in Financial Instruments Directive II (MiFID II) Regulatory Technical Standards (RTS) 27 and 28. The document provides guidance on how to populate reports required under RTS 27 and 28 with appropriate data in a…