Solutions
Abel/Noser Solutions (ANS) has released its annual Global Broker Performance Study, which ranks global brokerage firms on their ability to demonstrate best execution for clients and includes a breakdown of the top brokers in the North American, European and Asian Pacific regions.
For the second year in a row, Liquidnet edged out traditional firms in both the global and North American rankings, with Morgan Stanley coming in second. Crédit Agricole and Macquaire Securities lead the European and Asia-Pacific rankings.
The study evaluates brokers using placement strike price results that reflect the moment when the broker first received instructions
Deutsche Börse is to launch a trading venue for outsourced storage and computing capacity – so called “cloud computing” resources – in early 2014.
Deutsche Börse Cloud Exchange is a new joint venture formed together with Berlin-based Zimory to create the first neutral, secure and transparent trading venue for cloud computing resources.
The primary users for the new trading venue will be companies, public sector agencies and also organisations such as research institutes that need additional storage and computing resources, or have excess capacity that they want to offer on the market.
“With its great expertise in
Tradeweb Markets, a provider of fixed income marketplaces, has seen a 34 per cent year-on-year increase in trade volume for European government bonds in the first half of 2013, and 31 per cent growth for European cash credit volume during the same period.
Asset managers and other institutional investors have been executing more government and corporate bond business on electronic platforms over the past several months. Tradeweb estimates approximately 50 per cent of dealer-to-customer European government and cash credit bond volume is now traded electronically. The growth of e-trading in European credit markets has been particularly rapid –
During the first half of 2013, NYSE Euronext markets in the US and Europe raised USD28.5bn in total global proceeds in 72 initial public offerings (IPOs) and exceeded the combined proceeds raised on the next four world markets.
In the US, capital raised from IPOs listed on the New York Stock Exchange (NYSE) was four times more than any other US marketplace, and the NYSE achieved a record 64 per cent of all new technology offerings from 14 listings that accounted for 58 per cent of capital raised in the sector.
Also in the first half of 2013,
A new legal master agreement for triparty repo transactions has been developed by Clearstream to enable market participants to sign just one contract for multiple counterparties and speed up counterparty “marriage broking”.
Clearstream Repurchase Conditions (CRC), a master agreement governed by Luxembourg law, effectively enables customers to be able to trade with their chosen counterparties within just a few days.
The CRC contains most of the core provisions of current industry standardised repo agreements. It will offer repo participants the possibility of effectively testing their commercial appetite with regard to numbers of trades and volumes with a counterparty
SS&C Technologies, a provider of financial services software and software-enabled services, has launched a new release of its GoWire application that gives clients real-time access to critical cash flow movements.
This latest version of GoWire allows SS&C GlobeOp fund administration clients to control and authorise cash wire payments via SS&C GlobeOp’s secure web portal. GoWire supports a flexible authorised signatory policy, with multiple levels of authorizers, payment amount thresholds and wire purpose restrictions. GoWire provides SWIFT connectivity to top-tier prime brokers and custodians. Payment references from the financial institutions are made available via the portal for easy access and
PortfolioScience, a provider of on-demand risk management systems for hedge funds and hedge fund service providers, has added interest rate swaps (IRS) coverage to RiskAPI, the company’s API-based risk analysis service.
The extended coverage allows hedge funds, fund service providers, and enterprise systems interfacing with RiskAPI to measure the risk and value multi-currency interest rate swaps across portfolios and individual holdings.
"Coverage of interest rate swaps is an important milestone in the evolution of the RiskAPI system," says Ittai Korin, founder and president of PortfolioScience. "Having the ability to rapidly generate exposure and valuation analytics for IRS positions
MarketAxess has launched an index to inform market participants of trends in liquidity and transaction costs in the credit markets.
The MarketAxess Bid-Ask Spread Index (BASI) is designed using a proprietary methodology and tracks the spread differential between buy and sell trades of the most actively traded corporate bonds over time.
The index is calculated daily using executed trade data from publicly-disseminated FINRA TRACE data and also incorporates trade data from the MarketAxess trading system.
The BASI has been developed for US high grade, high yield and emerging market bonds and can also be broken down by
Quincy Data has added highly liquid exchange-traded funds to its Quincy Extreme Data (QED) service.
QED now delivers the most liquid equity ETFs sourced from Nasdaq’s Carteret, New Jersey data centre to CME Group’s data centre located in Aurora, Illinois in only 4.11 milliseconds rack-to-rack.
ETF data is also available locally over Quincy’s NJ metro wireless service, currently connecting Carteret and Secaucus, with Weehawken and Mahwah forthcoming.
“We are extremely pleased to add ‘westbound’ market data to our six month old ‘eastbound’ CME Group offering at what we believe is the lowest latency available,” says Stéphane Tyč, Quincy’s
The total number of futures commission merchants (FCMs) on Traiana’s Harmony Network for Exchange Traded Derivatives (ETDs) has now reached 12.
There has been a rapid uptake of buy-side hedge funds and asset managers benefitting from the service, with trade volume on the Traiana ETD ClientLink service growing by a factor of 20 over the past 12 months.
Using Traiana Harmony, FCMs are able to provide real-time visibility of exchange traded derivatives trades to their clients, enhancing client service and increasing transparency. At the same time, Traiana Harmony reduces operational risk by managing the entire reconciliation and allocation
