Robert Mackenzie Smith
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Articles by Robert Mackenzie Smith
HFT firm Teza said to be eyeing prop trading retreat
Big US Treasury trader has seen hedge fund add $1.5bn this year
L’exception française: why French banks dominate US repo trading
French banks are exploiting a quirk in the leverage ratio rules to expand repo trading
Buy-side forex trading curbed as margin rules take effect
Prime brokers will cut off access to dealers if they fail to agree revised CSAs
Dealers warm to all-to-all CDX trading
Liquidity providers new and old want to build on Bloomberg Clob activity
EU non-cleared margin rules tipped for February
Regime likely to begin earlier than mid-2017, say regulatory sources
DTCC’s Murray Pozmanter on repo clearing and HFT
Buy-side clearing a top priority following suspension of interbank GCF repo
LCH nixes US repo clearing, Weisbrod departs
David Weisbrod, CEO of LCH’s US businesses, left the company last month
Props stopped: non-banks struggle to crack US swaps market
Teza, TransMarket, Virtu among firms held back by regulation and old market practice
JP Morgan clients suffer in interbank repo basis blowout
Suspension of DTCC service leaves market "in uncharted territory"
Floor trader confusion holding back new swap market-makers
Non-banks fear rules restrict non-cleared swap trading
Banks ‘hurting, but not dead’ after Brexit shock
Last-gasp hedges may have eased the pain of Brexit for some banks
Brexit hedging leaves Ficc books unbalanced
Market-making desks struggling to recycle some client flows ahead of referendum
Start-up UST trading venues face clearing hurdles
Gaps in central clearing are stifling the emergence of all-to-all trading venues for US Treasuries
MarketAxess to offer cut-price dark pool liquidity
High-yield bond block trades could be 100bp cheaper on new platform, says executive
Buy side is the barrier to all-to-all credit trading, says AB chief
Switzer calls current pre-trade transparency technology "awful"
Tradeweb: US Treasuries clearing should be mandatory
Senior executive says move would help foster all-to-all trading in cash Treasuries
Interdealer brokers embrace buy side as bank dominance slips
Tradeweb considers integrating interdealer and client liquidity pools
Banks fear early rollout of EU margin rules for forex forwards
Industry calls on EC to clarify when foreign exchange forwards will be subject to variation margining
DTCC coaxing HFTs to become clearing members
US Treasuries CCP concerned about contagion risk threat to existing members
Hedge fund AQR hires Isaac Chang as co-head of global trading
Chang was formerly global head of FICC at KCG
Asset manager stress tests tough to implement – SEC official
Advanced risk measures such as CoVar may be too complex for some funds
DTCC bets on blockchain to slash CCP liquidity needs
New technology set to boost repo netting, shrinking $50bn facility "substantially"
SEC leverage ratio meetings alarm broker-dealers
US Treasury spread trades could face 850-fold jump in capital requirements
End-users shun ‘broken’ US swap market
Negative swap spreads forcing hedgers to look for alternative instruments