BrokerTec
Treasury traders remain wary about adopting algos
Yet proponents insist US government bond market is ‘ready for disruption’
Duffie: SEC plan heralds all-to-all Treasuries trading
Former Fed adviser welcomes long-advocated Treasuries clearing mandate
Page 19901: the benchmark that time forgot
CFTC probe into swap price rigging revives the ghosts of Libor manipulation
People moves: CRO role for SG’s Ricke, Barclays continues hiring spree, new SwapClear head, and more
Latest job changes across the industry
UBS unleashes Orca for rates clients
Machine learning algo trawls liquidity pools to slash US Treasury trading costs
BrokerTec outage serves as ‘systemic risk’ wake-up call
January 11 shutdown of dominant US Treasury market platform worries participants
Jump: inside the secretive e-trading giant
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
Brexit OTC mutation, chaperones and SA-CCR
The week on Risk.net, October 6–12, 2018
Direct streaming gains foothold in US Treasuries market
Cost savings drive dealers away from Clob model into alternative venues
New DTCC fee structure could lure non-bank traders
US regulator approves proposal targeted at government securities business
DTCC set to cut US Treasury clearing fees
Revised fee structure could prompt more firms to participate in clearing
Size-discovery protocols are not on the efficient frontier
Practice improves allocations but more can be done, says Darrell Duffie
BrokerTec dominance ‘unhealthy’, says Nasdaq’s Shay
More clearing needed to improve US Treasury competition
Non-banks eye EGBs as primary dealers retreat
Primary dealers warn of further exits as principal trading firms wait in the wings
HFT firm Teza said to be eyeing prop trading retreat
Big US Treasury trader has seen hedge fund add $1.5bn this year
Voltaire Capital and the prop shop that changed its spots
London-based start-up joins liquidity contest via buyout of Chicago HFT firm
Non-banks push direct liquidity streams in US Treasuries
Dealers could save millions in broker fees and transaction costs, non-banks claim
SEC's White urges rules rethink for US Treasury venues
Current regime gives platforms easier ride on transparency
Icap launches repo settlement facility to reduce counterparty risk
Daily news headlines
BGC hires head of fixed-income e-commerce
Andrew Stone has been appointed head of fixed-income products for e-commerce at London-based interdealer broker BGC.
TradeBlade adds to management team
Tullett Prebon have announced three new senior additions to the management team of TradeBlade, the interdealer broker’s electronic platform.
Icap platforms get regulator approval
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…
CBOT chief again hits out at Eurex US
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 thrives on market volatility
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…