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SteelEye, a compliance technology and data analytics firm, is pleased to announce its best execution support for MiFID II’s regulatory standards RTS27 & RTS 28.
With RTS28 due to take effect on 30 April, financial services firms are now looking to RTS27 ahead of its deadline on 30 June 2018. SteelEye has expanded its comprehensive regulatory solution to support these new requirements.
As part of their best execution obligations, RTS 28 mandates firms report their top five venues for all trading. RTS 27 requires trading venues to provide quarterly best execution reports, free of charge and available to download from
Swiss fintech specialist Avaloq has acquired a 10 per cent stake in Metaco, a Lausanne-based blockchain and crypto-currency specialist.
The acquisition, which is part of Metaco’s second round of funding, will see Francisco Fernandez (pictured), Avaloq’s founder and Group Chairman, join Metaco’s Board of Directors.
Established in 2014, Metaco helps banks and financial institutions, including national banks, capitalise on the latest blockchain technologies and systems. It has developed specialist, high-grade cryptographic solutions that can be fully integrated into a bank’s core processes. The firm, which is already offering its solutions on the Avaloq Software Exchange, is also a leading
Vela, a provider of trading and market access technology, has expanded its Direct Market Access (DMA) platform market coverage to include trading connectivity access to Eris Swap Futures which are offered by the Eris Exchange (Eris) as an alternative to traditional over-the-counter (OTC) swaps.
The addition of Eris to Vela’s fully-managed DMA platform is part of an ongoing program to provide clients with access to an ever-increasing number of global trading destinations in the Fixed Income markets. Eris is also available as a feed handler supported by Vela’s ticker plant, which provides normalised access to more than 200 venues across
Guernsey is set to launch what it says will be the world’s first regulated green investment fund product following the publication of a set of draft rules by the island’s financial services regulator, the Guernsey Financial Services Commission.
Fund managers will be able to apply for a green label for their funds if they can demonstrate compliance with defined green rules. The system will be open to all types of new and existing funds, authorised, registered, Guernsey Private Investment Funds, open-ended and closed-ended, with different levels of certification available.
“This move is part of our strategy to be the
Gemini Trust Company (Gemini) is to employ Nasdaq’s SMARTS Market Surveillance technology to monitor its marketplace.
The technology, which is considered the most widely deployed surveillance system in the world, will enable Gemini to monitor across all of its trading pairs, including: BTC/USD, ETH/USD and BTC/ETH. Further, SMARTS will also surveil activity across the Gemini auction process that is used to determine the settlement price for the Bitcoin XBT futures contracts that trade on Cboe’s CFE Exchange.
“Since launch, Gemini has aggressively pursued comprehensive compliance and surveillance programs, which we believe betters our exchange and the cryptocurrency industry as a whole,”
EEX Group further expanded its global position and achieved significant volume growth in almost all business fields in 2017.
Following the acquisition of Nodal Exchange and the migration of the PXE markets to the EEX platform, EEX Group recorded the biggest power trading volume worldwide for the first time in 2017 and now provides access to commodity markets in three time zones.
“The acquisition of Nodal Exchange constituted an important milestone in terms of our global reach. As a result, EEX Group now provides access to the three major markets: Europe, Asia and North America,” says Peter Reitz (pictured),
Societe Generale Corporate & Investment Banking (SG CIB) has selected big xyt’s Liquidity Cockpit to providing a consolidated view across all European trading venue activity with on-exchange and off-exchange liquidity including over-the-counter (OTC) equities and Systematic Internaliser (SI) transactions.
Over the past 10 years the trading community has had to respond to a range of new regulations, changing market structures and trading patterns including more block trading activity, new initiatives launched by exchanges such as periodic auctions, and SIs. For the trading community it is key to understand the impact of all these changes on the liquidity landscape.
The big
The State Street Global Investor Confidence Index increased to 114.5 in April, up 3.0 points from March’s revised reading of 111.5.
Investors across all regions expressed an appetite for risk, with the North American ICI increasing from 109.1 to 112.3, the European ICI rising from 102.0 to 110.9, and the Asian ICI from 109.6 to 112.7.
The Investor Confidence Index was developed by Kenneth Froot and Paul O’Connell at State Street Associates, State Street Global Exchange’s research and advisory services business. It measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling patterns of institutional
Reconciliation specialists Watson Wheatley has closed out its financial year with record turnover and the biggest increase in client numbers in the firm’s 10-year history.
Turnover, excluding prepayments at the firm, whose clients include hedge funds, long-only asset managers and commodities traders, for the 2017/18 financial year is up 33 per cent on 2016/17, accounted for by a significant increase in new business driven by enhanced system functionality and deep knowledge of reconciliation processes. Client numbers also increased by 30 per cent marking the most successful year ever for the UK-based firm.
Tom Wheatley, COO at Watson Wheatley, says:
The Commodity Futures Trading Commission (CFTC) has issued a statement regarding manufactured credit events in connection with credit default swaps (CDS).
The CFTC statement says: ”The CDS market functions based on the premise that firms referenced in CDS contracts seek to avoid defaults, and as a result, the instruments are priced based on the financial health of the reference entity. However, recent arrangements appear to involve intentional, or ‘manufactured,’ credit events that could call that premise into question. In a public statement dated 11 April, 2018, the International Swaps and Derivatives Association’s (ISDA) board of directors criticised manufactured credit events,
