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Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

Multiple Protocols Boost Liquidity in E-Trading of U.S. Treasury Bonds

With so many traders working from home, the pandemic is said to have accelerated the shift to electronic trading in U.S. Treasury bonds. Now industry leaders are debating the future of trading protocols in the world’s largest and most liquid market. On a recent industry webinar, bond experts said that supporting multiple trading protocols is key t...

/regulation /markets Capital Markets Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

CAT Compliance Ramps Up on Sell Side with Interfirm Linkages

No one could have predicted that Wall Street’s top compliance project would go into production during a pandemic. The securities industry is submitting data to the Consolidated Audit Trail, a long-delayed database for tracking the lifecycle of orders and transactions for U.S. listed and over-the counter equites and options in one place. Even thou...

/regulation /markets Big Data

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

The Buy Side's Hunt for Bond Liquidity

Fixed-income traders reflecting on the bond liquidity crisis and volatile markets caused by the global pandemic in March and April are pushing ahead with more automation to solve the liquidity and data-quality issues they faced. Citing the value of aggregation tools to bring in direct pricing streams, portfolio trading, and all-to-all trading proto...

/regulation /markets Capital Markets Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

AI and Machine Learning Gain Momentum with Algo Trading & ATS Amid Volatility

An increasing number of capital markets firms are adopting machine learning and other artificial intelligence techniques to build algorithmic trading systems that learn from data without relying on rules-based systems. With the hiring of data scientists, advances in cloud computing, and access to open source frameworks for training machine learni...

/markets /covid-19 Capital Markets Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

Factor Strategies React to Crisis-Induced Volatility

Given the extreme market volatility and disruptions to the economy caused by the spread of the COVID-19 pandemic, asset managers using factor-based investment strategies have seen their risk exposures shift in unexpected ways. At the same time, factor investing has grown as an approach to screening stocks based on the attributes that drive risk and...

/regulation /markets Hedge Fund Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

FX Algos Gain Adoption on the Buy Side as Best Ex and TCA Fuel Change

With the proliferation of algorithms in currency markets and regulatory pressure to prove best execution, buy-side trading desks are adopting algorithms to source liquidity and lower trading costs in FX trading. “Adoption of algorithms and TCA has been growing on the buy side for the past ten years”, said Yue Malan, senior analyst, Aite Group durin...

/regulation Capital Markets Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

Unlocking Data Silos to Reach the Promised Land of Smart Data Analytics

With mountains of market data, historical prices, and transactions data stored in disparate systems, securities and investment firms are shifting from a focus on collecting data to extracting value from it. A December 2019 paper by capital markets consultancy GreySpark Partners examined the potential for buy-side and sell-side firms to transform la...

Capital Markets Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

Revised SEC Rule 606 Shines the Light on Order Routing Disclosures

Change is brewing in the way that sell-side order routing data is reported to institutional customers. Broker-dealers will begin collecting vast amounts of data on January 1st for compliance with the revised SEC Rule 606 next year, shining the light on where brokers route U.S. equity orders in today’s highly automated, dispersed and complex nation...

/regulation Capital Markets Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

Exchange Landscape Gearing Up for Expansion in 2020

As a sign of the evolving U.S. equity trading landscape, two startups and one options exchange operator plan to launch as many as three new exchange platforms in 2020, and a fourth could be waiting in the wings. Members Exchange (MEMX), Long Term Stock Exchange (LTSE), and Miami International Holdings, operator of the MIAX Exchange Group, plan to c...

/regulation Capital Markets Technology

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

AI: Natural Language Processing and the Battle for Unstructured Data

With digital transformation in full swing, trading desks are inundated with emails, voice calls and chat to process and analyze. Most of this data needs to be captured, tagged and stored for regulatory purposes. But in capital markets, keeping up with the torrent of research reports in email, quote requests, and chat conversations with clients can ...

/ai Capital Markets Technology

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