Ivy Schmerken Editorial Director at FlexTrade Systems
Algo wheels have become a popular technology in equities trading, but now there are signs that algo wheels are expanding beyond equities into multiple asset classes such as futures. In equities, the measurement tool, integrated with an execution management system, enables firms to automate the algo selection process, quickly switch from one strateg...
23 August 2019 /regulation Capital Markets Technology
U.S. lawmakers authorized a study focusing on the provision of investment research for small issuers, a sign they are wary of the U.S. adopting the European Union’s MIFID II unbundling rules which have brought sweeping changes to the research business. On July 9, the House of Representatives passed a bipartisan bill requiring the Securities and Exc...
31 July 2019 /regulation MiFID
Eighteen months after MiFID II rules to unbundle research payments from executions have been in force in Europe, U.S. asset managers are dealing with uncertainty around paying for research and how to compete with global firms that adopt the EU rules. Many US asset managers are evaluating the need for increased transparency in their own research pay...
15 July 2019 /regulation MiFID
With the uptick in Asian currency trading and the growth of electronic trading, Singapore’s regulator is working with the financial industry to build an FX trading hub and expand FX market infrastructure, a move to improve liquidity and price discovery during Asian trading hours. The Monetary Authority of Singapore (MAS) is offering financial ince...
17 June 2019 /regulation Capital Markets Technology
As asset managers become more data-driven in their analysis of execution quality, they are reallocating order flows among their broker-dealer relationships at a faster pace. That finding provided the context for a recent Greenwich Associates webinar “Best Execution: How the Buy Side Measures it, How the Sell Side Produces it.” Panelists discussed t...
05 June 2019 /regulation Capital Markets Technology
The proliferation of software applications on financial desktops is a sign of innovation in capital markets. It’s quite common for traders and portfolio managers to rely upon multiple applications as part of their complex workflows. Financial users are often accessing multiple applications on the desktop, toggling between different windows, clickin...
02 May 2019 Capital Markets Technology
Fundamental investment managers are mining alternative data, but some worry that the same data sets have been sold to too many people and the strategies may be overcrowded. Experts at a recent panel discussion on alternative data brought some clarity to how alternative data is categorized and what are the big challenges faced by fundamental asset m...
18 April 2019 Hedge Fund Technology
Algorithmic trading has picked up steam in the corporate bond market as fixed income trading desks appear to follow the playbook of equities. But skeptics contend this is unlikely, arguing that bonds are quite different and will undergo their own electronic transformation. One of the world’s largest fund managers has developed a pre-programmed sy...
18 March 2019 /ai Capital Markets Technology
A FINRA working paper has raised concerns about broker order routing to affiliated alternative trading systems (ATSs), shedding light on order routing decisions and potential conflicts that can impact execution quality. The major finding is that institutional orders routed by brokers that send a relatively high percentage of institutional orders th...
27 February 2019 /regulation Capital Markets Technology
Broker dealers and high-frequency trading firms have complained about U.S. stock exchanges charging high fees for direct data feeds, accusing the exchanges of having a monopoly and demanding transparency into their costs. Brokers and electronic market makers argue they are forced to buy the fastest and most detailed proprietary data feeds to compet...
22 January 2019 Capital Markets Technology
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