Ivy Schmerken Editorial Director at FlexTrade Systems
The debate over ‘last look’ in foreign exchange trading has resurfaced in 2016 as regulators continue to eye the practice and investors worry about slippage and potential market abuse. Regulators are said to be scrutinizing FX dealing platforms that contain last look, a controversial practice that enables market makers to delay or reject trades fro...
19 February 2016 /regulation
As European regulators eye the foreign exchange market, the onus is falling on buy- side firms to develop best execution standards and take more control over their trades, according to a recent industry conference In light of recent scandals involving currency-rate rigging, and the controversy over ‘last look’, where banks have the right to reject ...
02 February 2016 /regulation
The SEC’s new proposed rules on transparency in alternative trading systems are going to shine a light on the operations of dark pools, ensuring fair access to information for all market participants. The SEC’s proposed rule on Regulation of NMS Alternative Trading Systems would formally create a disclosure regime along with a new form Reg ATS-N an...
27 January 2016 /regulation
Change is accelerating in the electronic foreign exchange markets. With the fixing scandal and the currency rigging cases resulting in multi-billion dollar bank fines, investors are choosing a mix of liquidity providers or venues in an FX ecosystem that has become more complex. As transparency and compliance become top of mind, buy-side participan...
19 January 2016 /regulation
Buy side firms have shown signs of impatience with U.S. equity market structure. While they are leery of radical reforms, institutions have seeded a number of trading venues lately. The topic of buy side firms investing in alternative trading system came up during a recent industry conference discussing 40 years of the National Market System. “Why ...
14 December 2015 /startups
Buy side traders debating the pros and cons of the U.S. equity market structure recently gave high marks to the computerized stock trading landscape, though it didn’t take long for concerns to surface. At a Baruch College Financial Markets Conference on November 11, four heads of buy side institutional trading desks acknowledged that the market str...
03 December 2015 /regulation
The US ecosystem for swap execution facilities continues to evolve, but not as rapidly as regulators and lawmakers anticipated. Despite the shift to electronic trading, some observers question if swaps trading has reached a new equilibrium. The vision of a buy-side trader sitting in front of a screen with the ability to anonymously click on stream...
19 November 2015 /regulation
The regulatory overhaul of the OTC derivatives market has brought mandatory clearing and electronic trading to standardized swaps, but many say the market structure is stuck, citing regulatory ambiguity and separate liquidity pools. While a significant portion of volume in interest rate and credit default swaps has shifted to new trading venues, pa...
10 November 2015 /regulation
MiFID II is going to boost transparency in financial markets and improve and broaden best execution standards for the buy side, but not everyone is prepared to handle all the data. Last month, the European Securities and Markets Authority (ESMA) published the final regulatory technical standards for MiFID II/MiFIR detailing its vision for how the ...
27 October 2015 /retail
Primary Challenges Traders seeking an edge in multi-leg options trades are relying on technology to navigate a complex market structure. One major challenge is that there is no linkage with regards to complex order books spread across seven US options exchange. Hence, it’s very important to scan all the exchanges to see what’s out there. In addit
21 October 2015 /regulation
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