The biggest U.S. bond dealers are maintaining the bulk of their market share while morphing into bond brokers who facilitate trades without putting their own capital on the line.
Following recommendations from the SEC's Fixed Income Market Structure Committee (FIMSAC), FINRA is proposing a pilot program to test the impact of changing the reporting requirements for large corporate bond trade.
On any given day in the U.S. corporate bond market, roughly 70% of the trades executed are for 100 bonds or fewer (equivalent to $100,000 or less). Greenwich Associates data shows that the vast majority of these trades—over 90%—are now done on...
Rapid advances in data curation and technology are changing the measurements of success in the commercial payments business.
When you spend your days living in the world of market structure – as we do here at Greenwich Associates – it can seem as if change happens slowly. While everyone agrees that the current market structure is not perfect, changing it can be difficult...
Volumes in the U.S. Treasury market are up in the first few months of 2019, and as Greenwich Associates data shows, so too is competition among the electronic trading venues. Kevin McPartland had the opportunity to speak with Jill...
The profusion of accessible data, and the advance of computing power and machine learning, have transformed TCA from a check the box exercise meant to satisfy the regulators to something else. TCA has reached a level where it can see beyond the...
In December, Nasdaq announced they intended to acquire Quandl, an alternative data company. The early adopters of alternative data were the most sophisticated quantitative hedge funds who had the expertise and resources to take in the often...
On Tuesday this week Nasdaq announced they were buying Quandl – an alternative data company. This follows a previous initiative within the global exchange and data company to organically build their own alternative data business.
U.S. Treasury volumes in October hit their highest level since May 2018, with an average daily volume of $554 billion. The equity market's precipitous decline drove a drop in Treasury yields that brought with it the market volatility traders have...
With this bull market feeling like it will never end, market chatter is increasingly focused on the flattening – or inverting – of the yield curve.
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