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Trading Technologies Partners with Borsa Istanbul
All derivative products listed on Borsa Istanbul Derivatives Market (VIOP) are now available for trading through Trading Technologies’ trading platform, according to an announcement this week. This gives clients the ability to trade the exchange’s derivatives, including foreign exchange, commodities, indices, and interest rate futures and options on futures, whilst utilising the suite of tools…
Canadian Regional Desjardins Group Taps SmartTrade to Automate FX Work Flows
Canadian regional financial services group Desjardins has selected smartTrade’s LiquidityFX foreign exchange trading platform, as the basis for an end-to-end solution to automate its institutional and retail FX workflows across all divisions of the bank. The implementation is characteristic of growing demand smartTrade says it is facing from regional banks, many of which are ‘greenfield’…
Kepler Cheuvreux Taps Big xyt to Add Value via TCA
Execution-only broker Kepler Cheuvreux’s decision to implement Big xyt’s execution analytics and transaction cost analysis solution is part of a growing tendency for trading firms to view TCA as an opportunity to improve the business rather than as just a compliance box to tick. Big xyt’s independent execution analysis solution supports TCA functions like benchmarking…
Hg Acquires Stakes in SmartTrade
French trading platform supplier SmartTrade last month quietly announced that private equity firm Hg had acquired stakes in the company from existing investors Keensight Capital and Pléiade Venture. SmartTrade isn’t saying much about the deal but in a statement reported that the existing management team under CEO David Vincent will remain in place and as…
Cutting Through the Noise: How to Identify True Outsourced Trading
By Andrew Walton, Head of European Business at Tourmaline Partners. More than 18 months into the era of MiFID II, it is now clear how this key piece of European regulation has fundamentally changed the business models of both brokers and investment firms. Buy-side firms in particular are required to have greater systems and controls…
BestEx Research System Offers Continuous TCA Review to Reduce Implicit Costs
Former AQR trading chief Hitesh Mittal’s new BestEx Research Group has launched its multi-asset trading system with a strong emphasis on best execution and lower trading costs. The new platform features a back-testing platform, broker-neutral transaction cost analysis (TCA) and sophisticated execution algorithms, which will be made available to more than 500 fund managers via…
US SEC Seeks Fairer Market Data Access, Deeper Data in SIP Feeds
The US Securities and Exchange Commission (SEC) is calling for reforms that would level the playing field for access to market data. In a bid to narrow the differential between those with access to high-cost data feeds that contain a greater depth of information, and other investors in the marketplace, the SEC proposals would subject…
IOSCO Calls for Parity on Crypto-Asset Trading Platform Scrutiny
Crypto-asset trading platforms (CTPs) such should be subject to the same kinds of standards that other types of trading platforms are, according to a new report from the International Organization of Securities Commissions (IOSCO). The report – Issues, Risks and Regulatory Considerations Relating to Crypto-Asset Trading Platforms – suggests that regulators look at: access to…
New FX Spot Benchmark Launched by Raidne to Fix Past Challenges
Outsourced trading services specialist Raidne has teamed up with New Change FX to launch a new foreign exchange fixing benchmark aimed at providing an alternative to the WM/Reuters (WMR) benchmark, which has been at the centre of ongoing manipulation allegations. The new Siren benchmark has been designed to reduce the risk of abuse that has…
IHS Markit Boosts TCA Service Down Under with Yieldbroker
IHS Markit is enriching the fixed income analytics within its Trade Cost Analysis (TCA) service by adding transaction data from the Yieldbroker electronic trading platform for Australian and New Zealand debt securities and derivatives. The move seeks to bolster IHS Markit’s best execution capabilities for the fixed income marketplace, for which sourcing robust data sets…