OpenDoor launches all-to-all platform in US Treasury market

OpenDoor Securities has launched a trading platform focussed on the less liquid segments of the US Treasury bond market. Nearly three dozen firms representing...

McKinsey expects greatest FRTB impact on larger European banks

By Flora McFarlane. The Fundamental Review of the Trading Book (FRTB) will have a greater impact on larger European banks according to a new report...

Trading systems FIXed to Ipreo for bond issuance

Primary market specialist Ipreo has launched a FIX-messaging based system for integrating the Ipreo Investor Access platform, which allows investors to electronically submit orders directly to...

Hermes appoints Andrew Jackson as head of Fixed Income

Hermes Investment Management, which has £30.6 billion in assets under management, appointed Andrew Jackson as head of Fixed Income, reporting to Eoin Murray, head...

BoE sets code of conduct for repo and securities lending

A new voluntary Money Markets Code setting out the standards and best practice expected from participants in the deposit, repo and securities lending markets...

KazMunayGas lists US$2.75 billion of Eurobonds on LSE

London Stock Exchange (LSE) has seen its largest issuance of corporate bonds from the CIS region since 2014. Kazakh oil and gas company, KazMunayGas,...

Plan to replace Dodd-Frank formally introduced in House of Representatives

The chairman of the Financial Services Committee in the US House of Representatives, Jeb Hensarling, has formally introduced the Financial CHOICE Act, a proposed...

Sterling dealers recommend SONIA as alternative to LIBOR

The Bank of England’s Working Group on Sterling Risk-Free Reference Rates – a group of major dealers active in sterling interest rate swap markets – has...
Rick McVey, MarketAxess

Fixed income platforms buoyed as all-to-all expands

Fixed income electronic trading platform operators have announced record trading volumes in the first quarter of 2017. MarketAxess, platform operator for dealer-to-client and all-to-all trading...

Bloomberg wins over AB and Capital Group with BVAL

AllianceBernstein (AB) and Capital Group have both selected Bloomberg's evaluated pricing service (BVAL) to benchmark and corroborate end-of-day values for US fixed income portfolio...
Mark Yallop, chair of the FMSB

Bond issuance standardisation boosted by FMSB

Market participants have published final guidelines that clarify expected behaviour during the new issue process for fixed income bonds in Europe. A series of measures...

EMMI drops Euribor+ methodology due to low transaction volumes

The European Money Markets Institute (EMMI), a non-profit group established by national banking associations in the European Union, has dropped the Euribor+ methodology, designed to...

Bondecosystem and TransFICC partner for bond market connectivity

Outsourced connectivity specialist Bondecosystem has partnered with financial technology provider TransFICC, to deliver a low-latency execution and connectivity service to electronic fixed income venues. The...

Will liquidity shifts bend or break US Treasuries?

Disclosed trading and internalisation are increasing as liquidity is wrung out of dealers and electronic market-makers. Chris Hall reports. As January’s storms ripped holes in...

Ancoa goes into adminstration

Cinnober Financial Technology has acquired the assets of Ancoa Software, the UK-based market surveillance specialist company, as a going concern. Terms of the deal have...
Dan Barnes

The DESK on Radio 4’s Thinking Allowed

The Desk's managing editor, Dan Barnes, was a guest on BBC Radio 4's Thinking Allowed, discussing the role of retail traders in the market,...

On The DESK : Nick Greenland : BNY Mellon Investment Management

Making the team. Nicholas Greenland is managing director for APAC and EMEA, head of broker/dealer relationships for BNY Mellon Investment Management based in London. In...

Algomi: The two-pronged attack plan

Algomi has an idea almost universally agree to be good, yet it has struggled to get it adopted. It aggregates inventory data pre-trade, in...
Ulf Erlandsson

Granit Funds hires Erlandsson as head of fixed income from AP4

Granit Funds has recruited Ulf Erlandsson as its head of fixed income starting in August. He comes from the Fourth Swedish National Pension Fund (AP4) where...

PBoC & HKMA: No investment quota for northbound Bond Connect trade

The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have given their approval to the local market infrastructure providers to...

Volcker repeal plans challenged

Ditching the Volcker Rule would have a limited effect on liquidity, but the enthusiasm for change exists. David Wigan writes. The Volcker Rule has been...

What the regulators don’t know about spoofing

At least 5% of treasuries volume is self-trading yet the legality of these trades is unchecked. Dan Barnes, reports. Self-trading is defined as a transaction in...

Municipal mean reversion

Dealers are now committing more capital in the muni market but future tax reforms threaten buy-side demand. Chris Hall reports. Is the US municipal bond...
Mike Rosborough, CalPERS

Mike Rosborough, CalPERS: On truth and transparency

Dating back to the 1930s, the California Public Employees Retirement System (CalPERS) is the largest pension fund in the United States. Mike Rosborough, senior portfolio...