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Wematch.live Seeks to Disrupt Voice Traded Interest Rate Swaps
Wematch.live, a digital broker, reports growing interest in the Euro interest rate swaps (IRS) matching and negotiating platform it released in late July. The platform went live with an initial group of 10 banks, including JP Morgan, Société Générale, HSBC and Royal Bank of Canada, and has since increased usage and liquidity, with 39 banks…
ICE Agrees to Acquire Merrill Lynch Option Volatility Estimate Indices
Intercontinental Exchange (ICE) has agreed to acquire fixed income volatility indices, including the Merrill Lynch Option Volatility Estimate (MOVE) family of indices, from Bank of America Merrill Lynch. The MOVE Index is a well-recognised measure of US interest rate volatility and can provide a signal for changing risk sentiment in fixed income markets. ICE will…
How to Exploit the Opportunities of Alternative Data
Alternative data is moving into the mainstream, driven by trading desks looking for alpha and more recently by private equity firms and corporate intelligence teams looking to gain market insight. That said, while adoption is increasing and some benefits are being realised, the data does come with caveats including incomplete datasets, poor quality, limited volume,…
R3 Expands Blockchain Software Engineering Team
R3, provider of Corda blockchain software and a player in capital markets, plans to double the size of its London Wall hub to accommodate its growing engineering team. The extra space will also support a hiring plan to increase the company’s global headcount from 215 to nearly 300 by the end of the year. Of…
ISDA Selects Bloomberg for Fallback Adjustments
The International Swaps and Derivatives Association has selected Bloomberg Index Services to calculate and publish adjustments related to fallbacks that ISDA intends to implement for certain interest rate benchmarks in its 2006 ISDA Definitions. The adjustments reflect the fact that interbank offered rates (IBORs) are available in multiple tenors, while risk-free rates (RFRs) identified as…
Refinitiv Shareholders Agree Merger Deal with LSE, David Craig Remains CEO of Refinitiv
Following our review of the London Stock Exchange Group’s (LSEG) proposed acquisition of Refinitiv through a transaction valued at $27 billion, Refinitiv today announced that its shareholders have agreed definitive terms with LSEG on the acquisition. The approval of LSEG shareholders will be sought at a general meeting to be held before the end of…
Moody’s Acquires Climate Data Specialist
Moody’s Corporation has acquired a majority stake in Berkeley, CA-based Four Twenty Seven, a provider of provider of data, intelligence, and analysis related to physical climate risks, as part of its wider strategy to develop transparent and consistent standards for evaluating ESG risk. The new acquisition will operate under its existing brand as an affiliate…
Ascendant and ipushpull Partner on Digital Transformation Drive
The playing field on which financial services firms are contending is changing. Past competitive playing fields, such as alpha generation or trading strategies, are becoming less important ways for firms to generate revenue – and instead, in their bread-and-butter businesses, firms are focused on either reducing or optimising costs. And technology is playing a major…
LSE in Talks with Refinitiv on $27 Billion Merger Deal
News broke over the weekend that the London Stock Exchange (LSE) is in talks with Refinitiv to take over the former risk and finance unit of Thomson Reuters, in a transaction valued at $27 billion. Should it come to pass – and given the specificity of press reports, it seems it most likely will –…
AlphaDesk Acquisition a Part of an Overall Buy-Side Strategy at Refinitiv, Says Chin
Refinitiv is executing on its strategy to significantly grow its presence in the buy-side arena through its recent acquisition and integration of AlphaDesk, according to Michael Chin, managing director and co-head of trading at Refinitiv. Changing the revenue base Refinitiv, which currently has revenues and a client base that is approximately 60% sell-side and 40%…