Financial & Algorithmic Trading Industry News
- MooD research: Over half of outsourcing budgets spent on IT cost reduction, not business benefits
Apr 27th, 2015 - Fifty-two per cent of IT directors' spend with outsourcing suppliers is focused on reducing the cost of IT, rather than achieving business benefits, according to research from technology company MooD International.
- Fidessa Regulation Matters - 'Flagging on the road to transparency'
Apr 27th, 2015 - Fidessa regulation expert Christian Voigt: With its aim of increasing transparency around execution quality, under the current draft technical standards* MiFID II will require investment firms to provide an annual execution quality report that states, for the top five execution venues, the share of passive and aggressive orders executed by the broker.
- SWIFT BF London 2015: Automation heralds 'new age industrialisation'
Apr 27th, 2015 - Automation is a major part of how entrenched financial services providers are responding to seismic changes in the industry post-financial crisis.
- Omgeo survey: T+2 to become global settlement cycle
Apr 27th, 2015 - Industry survey reveals 80% of market participants believe T+2 will become the global standard settlement cycle.
- Deutsche Bank subsidiary pleads guilty to LIBOR wire fraud
Apr 27th, 2015 - Deutsche Bank's London subsidiary, DB Group Services, agrees to plead guilty in connection with long-running manipulation of LIBOR.
- Trayport REMIT survey finds data collection risk is the key issue
Apr 27th, 2015 - Trayport has recently completed a survey of over 50 energy trading firms to identify their key focus around putting REMIT reporting tools in place ahead of the deadline.
- ASX and China Futures Association sign MoU
Apr 27th, 2015 - ASX and China Futures Association announce futures market collaboration.
- Interactive Brokers acquires Covestor
Apr 27th, 2015 - Covestor to be acquired by Interactive Brokers.
- Automated Trader Update: I fought the law...
Apr 24th, 2015 - Flash crash news: Scepticism over UK trader arrest, naked short selling found innocent, Bloomberg has its very own flash crash. SEC order protection rule rumbles on. Commentary from TradeTech. Research on Rough Volatility, Connectivity delays, Bank stocks and the future, and SWIFT looks at real-time payments. Quantopian pays out $100,000, BATS plans second options exchange, Goldman Sachs takes stake in Perseus, Zing & Zulu get RedHat certification, Hotspot offers 'free gold', LSEG, SIX, OptionsCity and BATS announce management changes.
- Themis Trading blog: Three levels of failure in detecting Sarao's spoofing activities
Apr 23rd, 2015 - Themis Trading details the three layers of regulation that were each at fault for failing to detect Navinder Singh Sarao's spoofing activity. His Futures Commission Merchant, the CME and the CFTC all either had or should have had sufficient data to do something about it. None did, either because they ignored red flags or had faulty data.
- Preqin: Alternative mutual funds outperform hedge funds in 2014
Apr 23rd, 2015 - The average alternative mutual fund delivered returns of 4.36% over the course of 2014, compared to 3.78% for single-manager hedge funds. These funds have a lower minimum investment than single-manager funds, $190,000 and $1.3mn respectively, as well as lower management fees on average (1.04% compared with 1.55%).
- Deutsche Bank to pay $2.5b, terminate employees for interest rate manipulation
Apr 23rd, 2015 - NYDFS announces Deutsche Bank to pay $2.5 billion, terminate and ban individual employees, install independent monitor for interest rate manipulation.
- LSEG celebrates 15th anniversary of first London ETF listing
Apr 23rd, 2015 - London Stock Exchange Group today celebrates the 15th anniversary of the first Exchange Traded Fund to list in London.
- Quant Meeting Request
Apr 23rd, 2015 - Risks & Returns - Quantitative Investment Forum is coming up May 27 - 28 in Toronto. This event will bring together top industry practitioners across North America to discuss the latest quantitative strategies, trends and portfolio optimization techniques.
- Deutsche Borse and SIBEX sign MoU
Apr 23rd, 2015 - Deutsche Börse and Romanian SIBEX sign Memorandum of Understanding for power futures exchange.
- Contineo selects Ullink for new Structured Products initiative
Apr 23rd, 2015 - Ullink's FIX connectivity solution to provide onboarding and connect Contineo's clients with its Asian multi-dealer structured products platform.
- Ada Investments appoints principal and COO
Apr 23rd, 2015 - Former Bridgewater executive to oversee firm's business and fund operations.
- GMEX Technologies and Avenir partner with Agricultural Commodity Exchange for Africa
Apr 23rd, 2015 - Partnership provides a new commodity trading and warehouse receipts system for developing market exchanges.
- Ali Farid Khwaja appointed group CFO SafeCharge
Apr 23rd, 2015 - Ali Farid Khwaja appointed group chief financial officer SafeCharge.
- SWIFT BFLondon 2015: SWIFT's KYC Registry users span more than 100 countries
Apr 23rd, 2015 - Update on the industry-owned KYC utility takes centre stage at SWIFT's Business Forum London.
- SWIFT BFLondon 2015: SWIFT paper explores the changing landscape of real-time payments
Apr 23rd, 2015 - New research highlights key trends and critical drivers for global adoption of real-time systems for retail payments.
- Thomson Reuters appoints MD of Wealth Management
Apr 22nd, 2015 - David Akellian joins Thomson Reuters as managing director of Wealth Management.
- Study clears traders failing to deliver for collapse of Lehman Brothers in financial crash
Apr 22nd, 2015 - Traders who 'failed to deliver' on stock market trades during the 2007-08 financial crash have been cleared of causing the collapse of major financial firms such as AIG, Lehman Brothers and Bear Stearns, according to a new study.
- MarketAxess launches pricing tool for European fixed income
Apr 22nd, 2015 - MarketAxess has launched a composite price tool for European fixed income products, with a price generated for approximately 3500 bonds updated every five seconds.
- Rough volatility: New research helps traders hone their edge
Apr 22nd, 2015 - Jim Gatheral, presidential professor at Baruch College, CUNY, on rough volatility research and how the historical data of the volatility surface can provide insights on the future.
- S&P Capital IQ partners with ProTrader
Apr 22nd, 2015 - S&P Capital IQ becomes strategic source of real-time market data for Protrader trading platform.
- 'Flash Crash' arrest ignites industry scepticism
Apr 22nd, 2015 - Big questions are being asked over the allegations levelled against UK trader Navinder Singh Sarao, who will be fighting extradition to the US on flash crash-related charges.
- Connectivity delays lead to missed trading opportunities - Colt study
Apr 22nd, 2015 - Almost half of Capital Markets professionals believe delays in connectivity lead to missed trading opportunities. Over half (59%) of respondents think they should be able to access markets faster. 40% of respondents say that these delays prevent entry to new markets. Financial impact for investment banks amounts to $5m per trading desk each year.
- FCA fines BoA's Merrill Lynch £13.2 million for reporting failures
Apr 22nd, 2015 - Merrill Lynch International has been fined £13,285,900 by the UK Financial Conduct Authority for incorrectly reporting 35,034,810 transactions and failing to report another 121,387 transactions between November 2007 and November 2014.
- Nasdaq to provide surveillance tech to JEPX
Apr 22nd, 2015 - Nasdaq to provide SMARTS market surveillance technology to Japan Electric Power eXchange.