MARKET NEWS
IHS Markit and CBPC open up China’s bond market with new onshore indices
By Shobha Prabhu-Naik.
Business information provider IHS Markit has launched new onshore Chinese bond market indices, which it claims are the first international, independent fixed...
Bloomberg finds global bond deals down in Q3
By Shobha Prabhu-Naik.
Bloomberg, the global financial data provider, has published its League Table reports for the third quarter of 2018 showing that the global...
ESMA lacks data to test bond market concerns
By Pia Hecher.
Regulators have acknowledged that bond market data is so sparse, even post-MiFID II, that they are unable to test execution quality concerns....
Quorum 15 launches digital membership with Greenwich Associates
By Shobha Prabhu-Naik.
Quorum 15, a global financial markets think tank, has entered a new partnership venture with analyst firm Greenwich Associates, to support digital...
WBR survey: Buy-side pushed towards price-making and ETF use
By Pia Hecher.
Following the introduction of the new Markets in Financial Instruments Directive (MiFID II), which has formalised best execution reporting, two-thirds of heads...
FEATURES
On the DESK : Dwayne Middleton : Morgan Stanley Investment Management
The modern trader needs an all-rounder mentality, considerable flexibility and the power to be a decision maker.
Dwayne Middleton is head of US fixed income...
Credit : Back for good : David Wigan
Cautious optimism on Dodd Frank roll-back.
The US regulatory response to the financial crisis has shifted trading risk from sell-side to buy-side desks, making reform welcome....
Derivatives : Brexit : Fred Maple
The impact of Brexit on European versus US derivatives trading.
Could the aftershock of Brexit land a win for the US? Fred Maple reports.
Many of...
Lead : BENCHmark Survey 2018
The DESK BENCHmark: Volumes down, efficiency up.
Fewer traders are managing greater volumes of trading in rates, while the volume of electronic trading is increasing...
Rates : Munis : Dan Barnes
Return of muni futures shows the market’s got moxie.
The municipal bond market is addressing its problems head on and in doing so, defying...
Securities Financing : India : Lynn Strongin Dodds
India’s lacklustre corporate bond market gets a boost.
Lynn Strongin Dodds looks at government initiatives and stock exchanges efforts to bring the market to life.
The...
INDUSTRY VIEWPOINTS
PROFILES
RESEARCH
WBR survey: Buy-side pushed towards price-making and ETF use
By Pia Hecher.
Following the introduction of the new Markets in Financial Instruments Directive (MiFID II), which has formalised best execution reporting, two-thirds of heads...
OLDER POSTS
Buy-side firms warn on herding effect of QE
By Aulia Beg.
Portfolio managers have expressed concern about the ‘herding’ behaviour within the investment community, resulting from central banks’ quantitative easing (QE) programmes.
In a...
On The DESK : Gianluca Minieri, Pioneer Investments
The Greatest Concentration of Risk
Gianluca Minieri has been the global head of trading at Pioneer Investments since 2011, driving reform across trading operations, including...
Treasuries crunch: Sponging up Treasury liquidity
A considerable increase in trade failures, combined with falling volume and buy-and-hold strategies is creating a shallow market in US treasuries, making the October...
Ipreo positive on FCA primary market consultation
By Flora McFarlane.
Primary market platform provider Ipreo has welcomed the consultation on primary markets by UK market regulator the Financial Conduct Authority (FCA).
“The FCA’s...
On The Desk: Christoph Hock: On building efficiency
Union Investment’s development of a multi-asset trading team and segregation of high and low touch business is allowing it to focus trading resource where...
Corporate bonds : E/OMS politics : Anna Reitman
GATEKEEPERS TO LIQUIDITY.
E/OMS providers need to overcome political hurdles to help the buy side navigate credit’s fractured markets. Anna Reitman investigates.
Vendors and brokers that...
Government & municipal bonds | Investor paradox | Dan Barnes
SWIMMING WITH GOVERNMENTS.
Government agencies are issuers, rival investors, market regulators and controllers of interest rates; how do asset managers handle them? Dan Barnes writes.
Central...
Video: Trends in Fixed Income Trading: Metamodern Meditations on the Future Market Structure
Russell Dinnage, managing consultant at GreySpark Partners, talks about how the structure of trading in the fixed income market could change over the next...
On The Desk: Jim Switzer: On taking control
The AllianceBernstein credit trading desk has been refocused to handle market fragmentation and the withdrawal of dealer liquidity, giving its traders a commanding presence...
On The Desk: Juan Landazabal: On trader evolution
Juan Landazabal, global head of Fixed Income and Foreign Exchange Trading at Deutsche Asset Management describes the internal and external pressures that are shaping the...
On The Desk: Paul Squires: On calm and the storm
AXA Investment Managers’ global head of trading & securities financing displays a steady hand as his trading function begins servicing new investment models while...
On The Desk: Christine Kenny : Loomis Sayles
KNOWLEDGE AS AN ASSET (FROM DESK TO MANAGEMENT).
Christine Kenny, managing director, senior fixed income strategist, compliance officer and head of the London office at Loomis, Sayles...
Government & municipal bonds : Electro muni : Chris Hall
GLOBAL WINDS OF CHANGE FUEL MUNICIPAL BOND AUTOMATION.
International interest is pushing the municipal bond market towards greater electronification and transparency. Chris Hall reports.
A new...
Corporate bonds : How big is credit? : Joel Clark
STANDING ROOM ONLY FOR CREDIT PLATFORMS.
As corporate bond trading platforms do battle, the size of the prize is not clear. Joel Clark reports.
How much...
Regulation : Brokers warned on SI regime missteps : Dan Barnes
Regulators have expressed concern over banks’ plans for operating systematic internalisers (SIs) under the revised Markets in Financial Instruments Directive (MiFID II). Dealers have...
ESMA: Confusion over TO/TOTV to be resolved “within weeks”
By Aulia Beg
In the coming weeks, the European Securities Markets Authority (ESMA) has said it will provide greater clarity around the definition of Trading...
Asset managers ‘not investment firms’ under MiFID II?
By Flora McFarlane & Dan Barnes.
Several European investment managers have reportedly claimed that they will not be classified as investment firms under the revised...
Just 23% of buy-side firms confident in preparedness for MiFID II
By Flora McFarlane.
A new report by block-trading specialist Liquidnet says that MiFID II will drive automation in trading, but firms face many complexities and...
Buy-side desks swing extra US$2.1 million into fixed income trading technology
By Sobia Hamid.
On average buy-side fixed income desks pushed US$2.1 million of additional budget into technology in 2016, according to new research from analyst...
CanDeal extends hours to reach European investors
By Aulia Beg.
Canadian fixed income platform CanDeal has extended its opening hours to capture more of the the European trading day. It will now...
Citadel Securities making markets in Treasuries on Tradeweb
By Dan Barnes.
Citadel Securities has become a liquidity provider on the Tradeweb institutional US Treasury marketplace, for dealer-to-client trading. Citadel Securities’ expansion into Tradeweb’s...
Treasuries reform and the buy-side trading desk
Growing automation and market relationships will mean regulatory change is only part of the story. Dan Barnes investigates.
Plans to make the US$543 billion-a-day US...
Rise of the EM platform
Trading EM bonds electronically is showing growth, despite the challenges in matching. Chris Hall reports.
Emerging Market (EM) debt trading volumes recorded a 21% year-on-year...
Derivatives desks at the crossroads
Having full access to derivatives gives a trading desk greater flexibility, but heads of trading need to assess the operational burden. Francesca Carnevale and...
