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Rival Systems Extends Reach Into Equities
Trading and risk management software provider Rival Systems’ partnership with the Lime Brokerage unit of Wedbush extends Rival Systems’ reach beyond its core constituency in futures and options, into equities trading in US markets and dark pools, according to Robert D’Arco, CEO, Rival Systems. Lime Brokerage and Rival Systems have launched an integrated service combining…
Industry Doubts Urgency Of US CFTC’s Reg AT
The industry’s sense of urgency concerning Reg AT is dropping, because little action is expected to put its rules in effect in the US following the May 1 ending of the comment period on the regulation. Reg AT, the US Commodity Futures Trading Commission’s Regulation Automated Trading, contains risk and transparency provisions for automated trading….
Fixed-Income Trading Operations Catch Up
Fixed-income trading operations may be as much as 15 years behind equities trading operations, but they are catching up quickly, according to executives in the field who spoke at the FIX Trading Community’s Americas Trading Briefing in New York on April 26. “All the advancements in technology, the transfer of information and the execution of…
MDX Technology License Helps MarketAxess Users Get Liquidity
Real-time data distribution solution provider MDX Technology’s addition of MarketAxess as a provider of market data through its platform will help users attract liquidity from buy-side clients, according to Paul Watmough, CEO of MDX Technology (MDXT). “We can, from the same secure channels and mechanisms, attract liquidity back on to [MarketAxess] trading platform, so we…
Recorded Webinar: Voice recording for communications surveillance under MIFID II/MAR
To date, the industry’s regulatory compliance focus for upcoming European MiFID II and Market Abuse Regulation (MAR) has been on issues including the structure of trading facilities, systematic internalisation, governance, best execution and time-stamping. MiFID II and MAR also contain provisions, however, increasing the requirements for recording and archiving voice communication related to securities trading….
Technology Catches Up To Regulators’ Monitoring Demands
Conducting a simple real-time statistical analysis of financial market activity does not necessarily require “sophisticated AI or machine learning,” says Guy Warren, CEO of ITRS, an application performance management and big data analytics provider. The purpose of conducting such an analysis is to determine when a circuit breaker kicks in to catch and stop algorithmic…
MiFID II Effects On Order Handling and Reporting Requirements Emerge
The specifics of MiFID II compliance have become clearer with new guidance from the European Securities and Markets Authority (ESMA), and increased understanding of best execution and transparency parts of the regulation among industry professionals. In ESMA’s recent question and answer statement on MiFID II, the authority specified what data must be published and reported…
Blockchain Venture Attracts Firms With Customization
The CME Group and blockchain technology provider AlphaPoint, in collaboration with the UK’s Royal Mint, have launched a digital gold trading product that aims to bring more financial institutions into gold trading and allow its users some open source parts on which they can build customized functions. Royal Mint Gold (RMG), the digital gold trading…
Why You Should Think About TCA Earlier When Trading
Transaction cost analysis (TCA) is mostly viewed as an after-the-fact function, or at best, a task that is performed alongside transactions in real-time. However, some service providers are beginning to think about and develop “pre-trade” TCA as a new element of risk management. Pre-trade TCA also could re-shape data management by accounting for smart order-routers’…
Challenges of MiFID II Reporting Leave Firms Unready for Compliance
Few financial institutions are ready to meet the requirements of transaction reporting under Markets in Financial Instruments Directive II (MiFID II), while many are facing ongoing challenges including understanding the regulatory requirement, sourcing required data and integrating standard data codes. The data management challenges of MiFID II transaction reporting, approaches to compliance, and the benefits…