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MiFID

A place to discuss MiFID

Gary Wright

Gary Wright Analyst at BISS Research

Islamic banking Tunis the next Dubai?

During the course of my visit to Tunis whilst undertaking a corporate actions benchmarking project, I became engrossed with the effort by the Tunisian government to create a significant new financial centre, bridging the gap between the Far East and the West. The investment in the region is clearly growing and the moderate nature of the governmen...

Gary Wright

Gary Wright Analyst at BISS Research

Who is going to replace Lehmans?

The finance industry is losing many of its major names as the crisis begins to bite. Some of the names may stay but they are now owned by behemoth banks who just get bigger and bigger. We are going to move into the future with a market that has less independent banks but a few massive global financial conglomerates. This narrowing of the field is ...

Gary Wright

Gary Wright Analyst at BISS Research

A Thirst for Vengeance

When the dust has settled on the financial crisis there will be a complete and detailed analysis by the politicians rather than the industry. The finance industry does suffer short memory syndrome and is able to move on regardless of the catastrophe until it unintentionally lurches into the next disaster. We have seen this reaction after every typ...

Gary Wright

Gary Wright Analyst at BISS Research

Selling Ban will hit Derivatives

It's a certainty that the ban on short selling will decrease the transaction volume in derivatives. The strategic use of derivatives creating short positions and escalating volatility in the markets will for a little while be curtailed. Unfortunately this is only the case in financial services firm's shares but nevertheless this is a significant p...

Gary Wright

Gary Wright Analyst at BISS Research

Fat cat bonuses; lessons could learn from Wood Mackenzie

Fat cat bonuses in the City dealing rooms have become the topic of discussion this week with all and sundry it seems having a view. The Archbishop of York is just one of the stranger people taking a shot at the City but he was then joined by the Prime Minister. It looks like open season on fat cats and who could argue it is not deserved. However, ...

Gary Wright

Gary Wright Analyst at BISS Research

Short Selling

The fact that the USA, UK and Japan have put short selling bans into play should not be seen as a long term solution to control the markets. The UK has set the ban until the 29th January and restricted it to 29 financial stocks although all types of company are exposed to manipulation by short selling. Short selling did not create the current cred...

Elton Cane

Elton Cane Digital product delivery at News Corp Australia

How much does it cost to build a pan-European dark pool?

Well, if you're Nyfix, the answer is $8.7 million and counting (with a further $2m-$2.5m next quarter). It's hard to tell with just a few minutes of web research whether this represents good value or not, compared with its peers. But considering that Euro Millenium supposedly leverages technology already employed by the Nyfix Millennium alternativ...

Elton Cane

Elton Cane Digital product delivery at News Corp Australia

The Field of Dreams approach to new execution venues

Lee Hodgkinson makes some interesting points in this video. The plethora of alternative trading venues launching this year will live and die by the liquidity they attract. Everyone knows that Chi-X has done quite well from being in the game early. SWX Europe likewise hopes that being early to market in providing a European dark pool - though just ...

John Cant

John Cant Managing Director at MPI Europe Ltd

The devil is in the sharing...

Whether you call it commission sharing or unbundling, it seems a deceptively simple process, at the conceptual level at least – you normally split the commission on an equity deal into at least two elements (traditionally denoted as execution and research) and distribute these portions appropriately. Following an agreement, known in the UK as a CS...

/wholesale

Gary Wright

Gary Wright Analyst at BISS Research

Green confirmations get closer!

The announcement that OMGEO is leading the way to finally eliminate paper confirmations as a regulatory requirement can only be welcomed by all in the securities industry. The explosion of electronic trading and the fact that nearly all investors either private or corporate have access to the web, must make this ridiculous rule outdated, being lef...

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