Beginning in the early 2000s, when the algorithms and software capable of performing transaction cost analysis (TCA) on a semi-automated basis first became prevalent, the definition of the function was always: a method of determining the effectiveness of a set of transactions performed by a counterparty – the key word within that definition being ‘effectiveness.’
In 2019, the global financial services industry is set to spend an estimated USD 50bn on the raw, historical markets and transactions data inputs required to fuel a broad spectrum of daily trading activities across all major asset classes.
Prior to the onset of the financial crisis and the subsequent wave of resulting global re-regulation, the majority of bonds and swaps trading activity within small-to-medium-sized asset management firms, hedge funds and wealth management firms was a game of dependencies.
In 2018, from an asset management firm or long-only institutional investor perspective, the time to await change in the fixed income market has passed; not only has significant change occurred, but it continues to change at a rapid pace.
For those overseeing the orderly conduct of trading, the Market Abuse Regulation (MAR) in mid-2016 introduced some significant challenges.
Sellside FICC trading business models are targeted for reform under the Basel Committee’s Fundamental Review of the Trading Book proposals. This article explores how the long-standing businesses within banks are subject to change under the regulations and what the implications of these changes will be for the industry as a whole.
A new report from GreySpark Partners forecasts the ways in which the structure of the fixed income market could change in the future to account for the impact of regulation and the creation of new bank methods for bonds and swaps trading.
As part of a major transformation programme, the client wanted to review the technology underpinning their eTrading platform.
The client required independent and expert advice in electronic trading and digital investment banking in order to support key technology decisions.
Following a recent merger, the client was operating two Fixed Income and FX trading solutions. Both provided direct trading capabilities on most FX and bonds markets in America, Europe and Asia-Pacific.
A new report from GreySpark Partners, a global capital markets consulting firm, titled Rebooting the Corporate Bonds Market examines how an unprecedented wave of innovation is reshaping the market structure of corporate bonds trading.
