Signalling risk in credit, if one counterparty is 50% volume
How do you avoid information leakage? Does this change if half the market is trading with a single counterparty? Knowing that electronic market maker,...
Do Europe’s credit trading costs invert the pattern for US debt trades?
An analysis of average bid-ask spreads in corporate bond markets across the European and US markets suggests that median bid ask spreads responses are...
SEC classifies HFT liquidity providers as “dealers”
US markets regulator, the Securities and Exchange Commission (SEC), has adopted two rules that require market participants who engage in certain dealer roles, in...
Justin Lada leaves Barclays for Susquehanna
Justin Lada, Barclays’ global head of electronic strategy for credit trading & sales has announced he will be joining proprietary trading firm Susquehanna, as...
Exclusive: What do buy-side traders think about Citadel’s entry into credit?
We asked senior buy-side trading heads about electronic market maker, Citadel Securities, entry into the corporate bond market as a direct market maker, a...
EXCLUSIVE: Citadel Securities confirms plans to enter corporate bond market
Citadel Securities has announced plans to enter the corporate bond market this year, The DESK can reveal, in a surprise play for one of...
Are interdealer markets dead?
So-called ‘interdealer’ markets have long been used by large buy-side firms. This well-known secret creates inequality for those investment firms barred from participating, and...
SEC proposes regulation of high-frequency trading firms in US Treasury market
US market regulator, the Securities and Exchange Commission (SEC), has proposed regulation of high-frequency trading (HFT) firms, also referred to as proprietary trading firms...
SEC report on algo trading highlights lack of joint oversight
US markets regulator the Securities and Exchange Commission (SEC) has published a report to the US Congress on algorithmic trading in US debt and...
Citadel confirms Chang to join in September
Citadel has confirmed that Isaac Chang, the head of trading at AQR Capital Management since 2016, will join the Citadel hedge fund in September...
