People moves: CRO role for SG’s Ricke, Barclays continues hiring spree, new SwapClear head, and more
Latest job changes across the industry
Machine learning algo trawls liquidity pools to slash US Treasury trading costs
January 11 shutdown of dominant US Treasury market platform worries participants
Execs at the Chicago prop firm wish the whole world was a Clob, but as bilateral volumes rise, they’ve decided to go with the flow
The week on Risk.net, October 6–12, 2018
Cost savings drive dealers away from Clob model into alternative venues
US regulator approves proposal targeted at government securities business
Revised fee structure could prompt more firms to participate in clearing
Practice improves allocations but more can be done, says Darrell Duffie
More clearing needed to improve US Treasury competition
Primary dealers warn of further exits as principal trading firms wait in the wings
Big US Treasury trader has seen hedge fund add $1.5bn this year
London-based start-up joins liquidity contest via buyout of Chicago HFT firm
Dealers could save millions in broker fees and transaction costs, non-banks claim
Current regime gives platforms easier ride on transparency
Daily news headlines
Andrew Stone has been appointed head of fixed-income products for e-commerce at London-based interdealer broker BGC.
Tullett Prebon have announced three new senior additions to the management team of TradeBlade, the interdealer broker’s electronic platform.
The Monetary Authority of Singapore (MAS) has given Icap the go-ahead to offer its BrokerTec and Garban trading platforms in Singapore. The UK-based inter-dealer broker announced yesterday that the Singaporean watchdog has designated the platforms as…
Chicago Board of Trade (CBOT) chairman Charles Carey urged the Commodity Futures Trading Commission to conduct a full and careful review of the application by Eurex to establish a US subsidiary yesterday. Carey’s comments are the latest in an ongoing…
Icap, the largest inter-dealer broker of over-the-counter derivatives, has reported a 39% rise in profits to £123.7 million for the year ended March 31. The firm’s turnover rose 26% to £664.3 million as the firm thrived on market volatility, especially…
UK inter-dealer broker Icap has reached an agreement to buy the electronic cash bond and repo trading business units of BrokerTec for up to £181 million. But the deal is still pending clearance by the US Department of Justice, which Icap expects will…
A new survey by the New York-based Bond Market Association (BMA) has found 81 electronic trading systems currently operating in the US and Europe versus 79 last year, indicating some stability in the e-trading arena.