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Prime broker Hidden Roads subsidiary, Hidden Road Partners CIV US LLC has been granted approval by the Financial Industry Regulation Authority (FINRA) to operate as a FINRA-member broker-dealer. Hidden Roads fixed income prime brokerage platform currently spans fixed income repo and global funding services.
The past year has seen vast improvement across the algorithmic trading space when it came to hedge funds’ strategies, new data from The TRADE has found. The TRADE received a record number of responses to this year’s Algorithmic Trading Survey. This was up from 5.89 in 2023 – which declined from 6.00
Interactive Brokers has become the first SFC-licensed securities broker to receive approval to allow retail clients to trade cryptocurrencies in Hong Kong. Interactive Brokers launched cryptocurrency trading in Hong Kong with the first SFC-licensed digital asset trading platform in Hong Kong, OSL Digital Securities.
Cboe Europe Derivatives (CEDX) has welcomed Interactive Brokers as a participant, providing its clients with access to CEDX’s equity index derivatives and equity options this quarter. The post Interactive Brokers joins Cboe Europe Derivatives as new trading participant appeared first on The TRADE.
If you want to work in the most cyclical role in the finance industry, it’s hard to beat commodity hedge funds. But a few related areas, such as commodity desks at banks, commodity trading advisors (CTAs), and physical commodity trading shops could put up a good fight for that “most cyclical” title.
In the dynamic realm of the financial markets, the introduction of technology has proven to be a catalyst for transformative change, overhauling existing trading strategies. Among the wide range of advancements, algorithmic trading has revolutionised how financial instruments are bought and sold.
Almost two thirds (63%) of buy-side equity market participants believe outsourced desks would result in improved execution quality and trade performance when trading across regions, according to new research from Coalition Greenwich. This figure was up markedly from similar research in 2020, which had the result at 5%.
FXCM’s institutional arm FXCM Pro has entered a liquidity bridging partnership with Tools for Brokers (TFB), an international provider of technology for retail brokers, prop trading companies and hedge funds. Brokers are also provided with data analysis and improved risk management through one user interface.
Eric Huttman, chief executive, MillTechFX Despite the relative calming of FX volatility compared to 2022, the management of currency risk was still a top priority for fund managers throughout 2023. Our As the FX swaps market grows, we expect to see regional banks trade more FX swaps.
More than three quarters of surveyed prop trading firms confirmed said volatility trading strategies had out-performed other markets last year, according to a new report from Acuiti. Around a third of surveyed firms which are not currently trading volatility products confirmed their intention to do so going forward.
Société Générale has become the first prime broker to tap DTCC’s CTM’s new automated tri-party trade matching workflow as the industry prepares for the heightened focus on meeting global accelerated settlement requirements. Right from the start we were excited to be part of the initiative.
TMX Group has launched a new US-based alternative trading system (ATS) venue, designed to create a trading environment with enhanced execution quality. The ATS will trade US-listed securities only (Reg NMS), with TMX Group adding that participants will be FINRA-registered broker dealers.
Instead, a combination of rising interest rates, inflation, soaring energy prices and geopolitical tensions have hit hedge funds, and subsequently the risk management practices of prime brokers. Elsewhere, other local regulatory changes and benchmark replacements continue to impact prime brokers.
StoneX has moved to increase its remit and geographical reach through the acquisition of fixed income broker Octo Finances SA. Fixed income broker Octo Finances is in Paris. The post StoneX to acquire fixed income broker Octo Finances appeared first on The TRADE.
Access to funding is often a key component in transforming an idea into a reality, particularly in sectors where initial start-up costs may be high. The different stages of a small business To ascertain what kind of funding you need and where you can get it from, it’s important to identify which stage your small business is at.
Vikesh Patel With this approval, the pan-European clearing house will introduce a service for European SFT transactions in cash equities and ETFs, which includes central clearing, settlement and post-trade lifecycle management.
We’ve seen liquidity reduced when trading outside of auctions – in some cases there is more liquidity in the close than during the trading day – and the occasional volume spike. And finally brokers – in terms of evaluating which brokers are providing us with the tools we require.
New York-based independent prime broker Clear Street is set to launch a new investment banking business named Strategic Advisory Services. Earlier in his career he held equity sales and trading positions at Cantor Fitzgerald. Clear Street has hired a team of investment bankers to build out the investment banking and advisory offering.
Peel Hunts head of electronic and program trading Nishad Vallonthaiel is departing for pastures new, The TRADE can reveal. Vallonthaiel was appointed head of electronic and program trading at Peel Hunt in 2023 after most recently serving at Numis Securities. Vallonthaiel could not be reached for comment.
As part of a major scheme from the Monetary Authority of Singapore (MAS) to develop the region as a global FX trading hub, several large banks over the last few years agreed to develop FX pricing and trading engines in Singapore, in partnership with MAS.
Central to many discussions on stage at TradeTech FX this week was the need to untangle credit and liquidity in order to allow the buy-side to future proof their trading workflows. A prime broker at the centre of their credit universe doesn’t make sense.” Big banks want to do more trading but they’re capped out at capacity.
Northern Trust has been selected by UK-based wealth management firm True Potential to provide outsourced trading services. Offered through its Integrated Trading Solutions (ITS) platform, Northern Trust will provide services across equities, fixed income and exchange traded derivatives, with coverage from multiple trading locations.
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.
million funding round aimed at expediating the development of FIA Tech’s Trade Data Network (TDN) initiative. The TDN initiative provides a shared ledger of trading information specifically aimed at addressing current fragmentation and lack of transparency which exists in exchange traded derivatives (ETD) post-trade processing.
Nasdaq’s Nordic and Baltic equity offering, QuoteView, will be made available through Nasdaq Data Link this month, covering primary venues and MTFs in the region across equities, mutual funds and ETFs. Elsewhere, systematic traders can identify simplify data collection for equity and ETP stock performance across different trading venues.
Futures industry technology provider FIA Tech has enhanced its Trade Data Network (TDN) to support the operational resiliency demands of clearing firms utilising the platform. The initiative is made up of 16 banks or brokers, as well as 40 investment managers and hedge funds with combined assets under management of more than $37 trillion.
The TRADE is delighted to announce the winners of this year’s Leaders in Trading awards, with the recipients honoured at a ceremony held last night at The Savoy, London. BlackRock and Millennium took home the award for Trading Desk of the Year Long-Only and Trading Desk of the Year Hedge Fund, respectively.
UK-based boutique fixed income trading desk BlueBay Asset Management is beginning a new chapter in its life. For head of trading for the RBC BlueBay Asset Management London-based fixed income trading desk, Stuart Campbell, the institution’s combined size is a new strength. You’re taught to almost think like a PM.
Order and execution management platform, Adroit Trading Technologies, has raised $15 million in its series A funding round led by specialised growth equity firm, Centana Growth Partners, with the capital set to be used to accelerate the business’ growth. It services the likes of Invesco.
Over the last few months, the market has seen two of the most prominent fixed income trading venues expand their service offerings through acquisitions of algorithmic trading providers. In August, MarketAxess revealed plans to acquire multi-asset algorithmic trading provider, Pragma, for an undisclosed amount at the end of this year.
In today’s T+2 environment, approximately 90% of all trades are affirmed by 11:30am ET on T+1 – the current affirmation cut-off point. Data published in the research revealed that in December 2023, only 69% of trades were affirmed by 9pm on trade date. A full copy of the research can be accessed here.
FIA Tech’s Trade Data Network (TDN) is now certified with and connected to Singapore Exchange (SGX), with FIA Tech expected to roll out TDN connectivity to all SGX members subscribed to the network in Q4. The post FIA Tech connects Trade Data Network to Singapore Exchange appeared first on The TRADE.
Named Universal FX, the platform supports BNY Mellon clients across all market segments, including investment managers, corporates, hedge funds and wealth managers. The post BNY Mellon launches new FX platform to help manage execution and access to price transparency appeared first on The TRADE.
In 2019, Nutting was nominated by her industry peers as one of The TRADE’s Rising Stars of Trading and Execution, and just four years later, she was shortlisted for The TRADE’s coveted Buy-side Trader of the Year Award. That same year, she was recognised by The TRADE and the industry as a Rising Star of Trading and Execution.
Spectrum Markets has launched exchange tradedfunds (ETFs) trading for European retail investors on its venue. Around 1,700 instruments have been added to Spectrum’s product universe from more than 30 fund providers, Spectrum confirmed in a statement.
Outsourced trading, though undoubtedly a contentious topic, is something that has been around in capital markets for decades in some form or another. However, an undeniable surge has occurred across the trading sphere over the last few years, with decidedly mixed results. And the number is climbing.
Stephen Roche As part of the move, Jupiter will leverage Saphyre’s platform for the onboarding and maintenance of its trading relationships with brokers and custodians. Saphyre’s automated intelligence enables onboarding and maintenance of custody and brokertrading, alongside synchronising associated reference data in real-time.
The TRADE is excited to announce its inaugural Leaders in Trading New York awards, in recognition of the achievements of the trading and execution industry in North America. Leaders in Trading is The TRADE’s annual sell-out showstopper event, held at The Savoy in London. appeared first on The TRADE.
TS Imagine and Cassini Systems have today entered a strategic partnership, with Cassini’s intelligent analytics across over the counter (OTC) and exchange traded derivatives (ETD) products now available via TS Imagine’s offering, The TRADE can reveal.
Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for the Outstanding Market Data Provider category, shining a light on those displaying recent excellence in the data sphere.
The TRADE is delighted to announce that Europe’s most popular awards event for the trading and execution industry returns on 8 November at The Savoy Hotel in London, recognising the finest trading talent across asset managers, hedge funds, banks, brokers, trading venues and technology vendors.
The annual Leaders i n Trading gala is the most distinguished awards night for the trading community. Among the most coveted awards categories is the Editors’ Choice Awards and today we bring you the 2023 nominees for Outstanding Post-Trade Services Provider.
MarketAxess is set to acquire multi-asset algorithmic trading provider, Pragma, for an undisclosed sum at the end of this year, subject to closing conditions. Pragma offers algorithmic trading and analytical services across equities, foreign exchange and fixed income.
Next up in our introduction to the distinguished nominees for Leaders in Trading 2023 Editors’ Choice Awards, we bring you the shortlist for Outstanding Non-Bank Electronic Liquidity Provider, showcasing excellence in liquidity provision outside of the traditional sphere. billion compared to € 2.8 billion the previous year.
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