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Tag Archives: fixed income

Market Structure: Why You Should Care – Kevin McPartland, Greenwich Associates Feature,MWEd,Mwiki,Video,video

“I’m not a particularly good investor. I don’t know if my own portfolio is set up the way it should be. But I can certainly explain to you exactly how an equity trade comes from a pension fund and makes its way all the way down through the market and settles and all the other pipes and plumbing that come with it.” In this video from MarketsWiki Education’s World of Opportunity event in New York, Kevin McPartland, managing director, market structure and technology with Greenwich Associates, takes a step back from the minutiae of markets to talk about the big…

Liquidity concerns to fuel vol; CTC expands; Sebi’s derivatives rules Newsletter,Options

Lead Stories Goldman Warns of Liquidity-Fueled Sell-off After ‘Volmageddon’ Tracy Alloway – Bloomberg (SUBSCRIPTION) Weakened liquidity might have set stage for volatility surge; February event stands as warning to consider hedges: Goldman More than five months after February’s so-called volmageddon, the causal connection with a sudden slide in U.S. equity liquidity is only now becoming clear, according to Goldman Sachs Group Inc. /goo.gl/usP89x ****SD: Seems to be the bank concern de jour – the below story regarding Morgan Stanley’s research is also about liquidity. The Heisenberg Report has more on the notes here. Volatility highest since financial crisis, Morgan Stanley…

JLN Profile: Ralf Roth – Market Structure Matters Feature,Mwiki,Video,video

Ralf Roth got his start in 1994 at Deutsche Bank as a junior fixed income analyst. Starting at the bottom and working his way up, Roth occupied various roles in equities and prime broking before eventually becoming the global head of equity product development. He then left to be the global head of Elektron for Thomson Reuters, followed by a stint at IHS Markit as chief technology officer for equities. He is currently CEO of Quantitative Brokers. In this John Lothian News Profile video, Roth touches on the transition to electronic trading in the late ’90s and how important micro…

The Fed Unwinds; BTS Launches BTS Spark John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The Giving Tree This is a different type of giving tree, so hang with me. There are a number of announcements to be made today. If you had not seen the information about the visitation for Les Rosenthal, here it is: Chicago Jewish Funerals, 8851 Skokie Blvd. Skokie IL 60077, today, September 19, between 1:00 p.m to 4:00 p.m. In lieu of flowers, contributions in his memory may be made to a charity of your choice. There are a number of charities listed. In recent days prior to the sad news, JLN…

Interest (in) rates: CME’s suite soars Blog,Commentary,Feature,Options

Despite historical seasonality trends pointing to decreased trading activity in summer months, CME’s interest rate complex has been red hot. In the past month, CME Group has experienced records in a variety of rate-related products in terms of average daily volumes, open interest, electronic trading and investor participation. Average daily volumes (ADV) and open interest (OI) in Ultra 10-year Treasuries, Wednesday Weekly Options on Treasuries (just launched in June), electronic trading of eurodollar options are all at highs and foreign investor participation is on the rise.  (See the infographic below for more.) In August, OI in treasury options reached a record;…

Deutsche Bank walks away from US swaps clearing; Soc Gen sees fixed income trading boom; Crunch time for increasingly brittle London Metal Exchange John Lothian Newsletter,Newsletter

First Read Trump Preparing to Nominate Commodity Futures Trading Commission’s Giancarlo as Chair; The former brokerage executive is currently serving as acting chairman Andrew Ackerman – WSJ The Trump administration is preparing to nominate J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission, according to people familiar with the matter, elevating the former brokerage executive to the full-time head of the top U.S. derivatives regulator. /goo.gl/XFy2Wg ***** This would be a terrific outcome. Acting Chairman Giancarlo is widely respected and very knowledgeable. All we need now is some other commissioners. ++++ Nasdaq’s Black Belt CEO on IPOs, Unicorns,…

Solidifying an American foothold: LSEG’s UnaVista and MTS platforms look to expand Blog,Commentary,Feature,Fintech,Investing & Trading,Mwiki,Regulation

The London Stock Exchange Group has plenty of reasons to be in the news due to its pending merger with Deutsche Boerse, but while all of those discussions take place, parts of the LSEG family are making moves of their own. The two arms in motion are MTS, a bond trading platform, and UnaVista, a back and middle office platform for reconciliation, reporting, matching and validation. Both are in a similar situation — they have a large presence in Europe but not so much in the United States. For example, MTS is dominant in EU sovereign bond trading and UnaVista…

Paul McCormick, Opening City Doors – Finding your First/Next Financial Job Video

“There is a mismatch between the way companies like to hire people and the way graduates and young professionals like to get hired.” Paul McCormick has represented a half dozen of the biggest names in the banking world in his 30 years as a fixed income trader. Now he works as a graduate recruiter for Thomson Reuters, and also writes a blog, Opening City Doors, that helps graduates and young professionals find a place in the London financial scene. He says most companies’ recruitment flow charts run from the top down – internally, personal referrals, LinkedIn contacts, professional recruiters –…

Peeling back the layers of the European regulatory onion with Finex’s Andrew Gebhardt Managed Futures,Regulation,Video

As regulatory bodies implement sweeping new rules for the financial industry in the wake of the ‘08 crisis, an increasing problem lies in navigating these always complex and occasionally differing rules and regs across international boundaries.   JLN sat down with Andrew Gebhardt, managing partner at Finex LLP, to see how the situation is playing out for investment funds in Europe. The short answer is not well. The disconnect between U.S. and European regulators is so severe, Gebhardt advocates that small firms looking to expand to Europe should consider joining forces with an entity already licensed to created funds —…