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The rebundling conundrum

The TRADE

In May, the UK’s Financial Conduct Authority’s (FCA) implemented new rules allowing fund managers to pay for research with a joint payment option, essentially allowing for the ‘bundling’ together of payments for trade execution and research.

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HSBC downgrades JPMorgan Chase, adopts 'a more cautious stance' on bank stocks

CNBC: Investing

"The share prices of the universal banks and brokers we cover have, on average, risen 35% over the past three months," Martinez said. " Analysts are split on JPMorgan Chase shares. Of the 26 who cover it, 14 rate it a buy or strong buy, according to LSEG. Another 11 have hold ratings on the stock.

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SEC approves FICC access models and segregated accounts and margin rule filings

The TRADE

In relation to segregated accounts and margin, FICC’s proposed rule changes seek to address the Commission’s new requirements and the conditions for including margin in the broker-dealer reserve formulas. The post SEC approves FICC access models and segregated accounts and margin rule filings appeared first on The TRADE.

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The Thursday T+1 trading conundrum

The TRADE

The shift to T+1 in the US can largely be described as a success – affirmation rates remain comfortably high, fail rates have stayed reasonably low and FX trades don’t appear to have shifted to bilateral settlement as feared. Jim Goldie “The impact on a Thursday is that brokers need to fund for another three days.

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The TRADE predictions series 2024: Regulation – Mifid/Mifir?

The TRADE

Eric Heliene, head of buy-side trading desk, Groupama Asset Management  The intensification of financial regulation is a fundamental trend transforming the asset management ecosystem.  While the EU has agreed to a real-time pre- and post-trade consolidated tape (CT) for equities – the devil will be in the detail.

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Retail boost is driving volumes off-exchange, Liquidnet finds

The TRADE

Wholesales were found to have increased their consumption of flow from retail brokers. Last week, the European Council and Parliament introduced a “general ban” on PFOF, with temporary exemptions for member states where firms currently use the practice until June 2026.

Retail 64
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A look into the centrally cleared future

The TRADE

The Securities and Exchange Commission (SEC) is in the process of introducing noteworthy rule changes to the clearing of fixed income securities, a development which is set to reshape the landscape for fixed income trading. For trading desks, the new rules will result in a range of operational and regulatory shifts.

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