Day: 26 January 2014

And Finally…

There seems to be (finally!) general consensus that the Fix isn’t the best mechanism in its current form as my sources tell me Fix volumes are declining “sharply”. So, either it needs to be changed or new methods need to be found; the problem with the latter, however, raises another long standing issue of mine […]

Around the World

Sweden Prepares to Tax Bitcoin as an Asset The Swedish Tax Agency is reportedly drafting rules that would tax Bitcoins as assets. Last April the Swedish financial supervisory authority, Finaninspektionen, warned that Bitcoin could be exploited for money laundering purposes because of the anonymity of its users. However, rather than banning Bitcoin, Swedish authorities will […]

Tech Corner

BSDR, a subsidiary of Bloomberg, has received provisional registration from the Commodity Futures Trading Commission (CFTC) to become a swap data repository. Bloomberg is continuing to work with Commission staff to satisfy certain conditions and expects to be operational in the near future. BSDR is the fourth entity for which the CFTC has issued provisional registration […]

On the Move

McInerney Heading to BTMU? Patrick McInerney is joining Bank of Tokyo Mitsubishi’s spot desk in New York, according to market sources. He was previously a director in the fixed income, currencies and commodities (FICC) division at Bank of America Merrill Lynch. McInerney joined BAML in New York in 2011 from Standard Charterted where he was […]

Traiana Connects to Four Trade Repositories

Traiana will be providing connectivity to four trade repositories (TRs) in time for the imminent reporting deadline under the EU’s European Market Infrastructure Regulation (EMIR). The pre-trade risk and post-trade processing software vendor will initial be connecting to the TRs of CME, DTCC, Regis-TR and UnaVista through its Harmony TR Connect trade reporting service. According […]

FX Transparency Unveils TCA Package

FX Transparency, an independent provider of FX transaction cost analysis and best-execution consulting, has released FXT Analytics, a hosted application that will allow clients to create their own custom reports, as well as explore new ways to reduce trading costs. Built to help investors demonstrate FX best-execution efforts, the application allows users to select a […]

ICMA Survey Reveals Sharp Decline in European Repo Market

The European Repo Council of the International Capital Market Association (ICMA) has estimated an 8.2% decline in outstanding repo business over the past six months, based on a constant sample of banks surveyed. The results of its 26th semi-annual survey of the European repo market reveal a sharp drop in market size, which fell from […]

Deutsche Boerse Chief Calls for Europe to be More Competitive

Deutsche Boerse group’s CEO says it will continue to focus on growing its presence in Asia this year, and called for European regulators to “keep an eye on its competitiveness”. Reto Francioni’s remarks echo similar comments he made last year, in which he announced the priority for the leading German exchange group would be concentrating […]

Asset Managers Turn to FX TCA to Improve Analysis

FX transaction cost analysis (TCA), which provides data that explains how trades perform against specific benchmarks, has increasingly become a focal point for alpha-seeking asset managers the world over, according to research from Aite Group. A third of those surveyed have already undertaken TCA in FX and other asset classes. However, a slightly larger percentage […]

Saxo Bank Launches ‘Facebook for Traders’

Saxo Bank has launched a multi-asset online social trading community for “serious investors”, TradingFloor.com, in a bid to “democratise” access to trading and fund management. The portal aims to transform trading into a social experience by allowing traders to share their trades with peers, increasing the level of transparency in trading. Saxo Bank’s co-founder and […]