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.
Tuesday February 18th is certainly a big deal. Requiring swaps to trade on registered platforms was one of the primary tenets of derivatives reform since shortly after the Lehman big bang theory bankruptcy, and finally the day has arrived. This is...
We spoke to just under 500 portfolio managers and traders globally to see what they’re doing with and what they think about OMSs, trading-system EMSs and TCA platforms for Equities, FX and Fixed Income. This is not a space of dramatic year on year...
Its true. If you step back and think about it for a minute, the work carried out over the past four years to create an electronic swaps metia-logomarket almost from scratch is pretty amazing. PR Metia just released their FinTech Insight 2014 report...
Its been my experience that many in the market are ignoring FX in the global derivatives reform debate, thinking of them as broadly exempt from new rules. This view is a bit of a red herring. Our latest research report digs into the regulations set...
The CFTC is great at sending emails out at inopportune times. In this case it was the 13 no-action letters sent between December 20th chicagoand December 31th while most of the financial world was trying to take a deep breath and enjoy some time off...
The year 2013 will likely go down as the year of mandatory clearing. Once ignored by eager financial market Greenwich Associatesprofessionals as boring back-office stuff, collateral management, credit limits and all other things clearing stood front...
Who would have guessed that Black Friday would have turned out to be a big day for SEF trading. Both Javelin and Tradeweb resubmit their MAT filings, both scaling back the number of products made available for trading. This is a big deal for a few...
In the past I’ve spoken about buy side incentives for using an agency model – chief among them the reluctance or inability to navigate the slew of legal documents an institutional investor would need to sign in order to gain access to the needed...
The CFTC issued a slew of new guidance and rules last week, two of them particularly interesting and impactful. First was the rule that requires clearinghouses to have credit facilities available to back up all margin posted in US Treasuries. I (and...
Forgive me if I’m stating the obvious for some of you, but I’ve had this conversation more than once and felt some clarity was in order here. As we work through the made available to trade (MAT) process, it’s important to reemphasize what actually...
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