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Shall we compare thee to a multilateral trading venue?
As regulators confirm that perimeter guidance applies to tech firms, the focus shifts to enforcement.
Tradeweb treads fine line as API trend brings challenges
Buy-side rates traders look to dodge platform’s interface but remain barred from cross-venue price-shopping.
EU lawmakers struggle to find common ground on equities CT
The debate over a consolidated tape for European equities heated up when a second contender for the role of provider emerged during the EU’s trilogue process. But as the bloc’s three legislative bodies try to reach a compromise, commercial interests are proving inescapable.
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Broadridge rethinks the OMS
Through its partnership with Glue42, Broadridge is bringing together the best components of its agency trading and market-making solutions.
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SEC’s $5M Bloomberg BVAL fine targets ‘dark magic’ in fixed income pricing
Recent actions against Bloomberg and Ice for violations relating to evaluated pricing services suggest the US regulator may be setting the stage for stricter regulations to govern the sector.
Lessons from credit: Could all-to-all help Treasury markets?
Regulators are looking to all-to-all trading as a possible solution for worrying volatility and deteriorating liquidity in US Treasury markets.
SEC deadline raises existential questions for US market data
This month, the commission must decide on a fee filing under its market data modernization efforts. Jo wonders how likely we are to see those efforts materialize any time soon.
Adaptive pushes low-latency open-source messaging
The London-based consultancy is looking to engage firms and exchanges on its Aeron messaging technology, which it acquired earlier this year.
Man Group revamps data science platform to tackle data deluge
The London-based investment manager spent four “long and intense” years rewriting its data science platform, Arctic.
Is an EMS an exchange? Vendors alarmed by scope of Reg ATS amendments
Some industry participants are worried that proposed amendments to Regulation ATS could see the trading perimeter expanded to include a wide array of messaging systems.
Market data plans revive proposals to move odd lots onto Sips
Consultation on democratizing odd lots data closes next week, but more solutions to order protection concerns may be needed.
Looming court battle could void SEC’s market data efforts
Litigation preview: What will the big exchanges argue in a court case to reverse the SEC’s initiatives?
Industry slams market data fee filing
Jo struggles to see how the SEC could approve fee proposals for exchange market data fees.
Regulators, startups eye transparency efforts for private companies
When it comes to private companies, data transparency still lags its public market equivalents, and a lack of data quality and availability is a barrier to increased investor participation. But an alliance between a startup and niche brokers is aiming to…
2021 saw market data’s quiet revolution
This year, the SEC pulled the trigger on competing consolidated tapes and a new market data governance plan. In 2022, we will know if some of it can go ahead, or remain stymied by legal battles.
Fee filings cloud hopes for cheaper NMS data
Aspirant ‘competing consolidators’ were hoping for a lot more leeway than they got in an important fee filing, Jo says. By Jo Wright
Six partners with BMLL for best execution analysis
The Swiss exchange is using the vendor's data and analytics to provide insight to brokers around Swiss EBBO liquidity.
Tradeweb adds ‘in-flight’ controls for European credit to AiEX
Users of the trading tool can now isolate and manage trade exceptions in real time.
SEC’s CT Plan timetable is ‘unrealistic’
Implementing governance structure for new US public equities datafeeds within a year is highly unlikely, say industry observers.
Charles River, Wave Labs team up for enhanced OEMS
The strategic partnership will involve a three-part integration including system connectivity, combined visualization and the creation of client feedback loops.
EC drafting proposal for derivatives consolidated tape
Commission official says beta version ready for testing in 2023 will also include equities, bonds and ETFs
Farewell, Oats: Finra announces retirement date
Finra has told firms to stop reporting trades to the Oats tape from September 1, as the SEC's Cat becomes the definitive audit trail for US securities markets activity.
LSEG to replatform Matching and FXall
Migration to stock exchange’s tech platform aims to deliver faster speeds and more order types.
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Standard Chartered, Bloomberg develop electronic workflow for Korean Treasury bonds
The workflow shortens the time it takes for investors to trade KTBs, and can be tweaked to suit other emerging bond markets.