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Retired Member

Slave to a label?

ESMA has just published a report on high-frequency trading (HFT) activity in EU equity markets. It’s good to see the regulator producing an empirical study on such a hotly-debated and emotive topic. ...

18 Dec 2014
Steve Grob

Last minute shopping in Europe

Imagine you are doing the last of your Christmas shopping – all that’s left to get is a large chunk of your favourite stock. Because you generally buy in bulk, you know to avoid the brightly lit but e...

05 Dec 2014
Retired Member

Systematic Internaliser on a wire

MiFID II imposes simple categories on a complex trading landscape, such as on- and off-exchange, or multi-lateral vs. bi-lateral. Obviously having some rules helps unravel complexity, but too many kil...

03 Dec 2014
Steve Grob

Back in Block

On the way in this morning, I was listening to my favourite AC/DC album and thinking about the challenges of block trading. The problem is well known - a combination of multi-market trading, algos and...

25 Nov 2014
Retired Member

Synchronising regulation

US securities industry regulator FINRA recently implemented new time-stamping rules, a topic also on ESMA’s MiFID II task list. FINRA requires US firms to express time in milliseconds when reporting ...

25 Nov 2014
Anne Plested

Stuck between a rock and a hard place

First proposed way back in 2011, work has been ongoing to narrow down the details of a common financial transaction tax (FTT) to be introduced across Europe. Back in May this year, all but one of the ...

20 Nov 2014
Retired Member

Schema Valididation and Enhanced Reconciliations

Based on the work I have done on reconciliations for some of the largest investment banks in the world, including those in America, Canada and the UK I'm convinced that there is room for improvement i...

19 Nov 2014
David Craig

A new dawn for China and the global investment community

This is a genuinely historic week for the world’s financial markets. For the first time investors worldwide can invest directly in the companies driving this country’s amazing growth story via the Hon...

17 Nov 2014
Anne Plested

Turning down the heat on dealing commission

As the FT reported earlier this week, ESMA is set to step back from imposing a much contested overhaul of dealing commission. The scrutiny of commissions has been a major concern for the buy-side, in...

14 Nov 2014
Bill Blythe

Taking a best practise reconciliation approach to IBOR

While there’s general consensus across the buy-side regarding the value IBOR can deliver to investment firms, the debate over how best to implement it still rumbles on. There are many challenges in pr...

12 Nov 2014
Retired Member

The romance of private equity: Liquity

“You know what people say to us? They say ‘you’re inventing a new asset class. You’re inventing liquid shares in private companies” Liquity, the London-based startup taking part in the Startupbootcamp...

11 Nov 2014
Future Finance
Retired Member

Refocusing on auctions

BATS Chi-X Europe recently announced plans to introduce opening and closing auctions for ETFs, while the LSE plans to introduce an intraday auction for all SETS equities. Although these moves differ ...

07 Nov 2014