Day: 14 December 2017

CLS Volumes Tick Up in November

The average daily volume (ADV) of trades submitted to CLS was $1.677 trillion in November, up 3.8% from the previous month and up 9.2% year-on-year.

This increase in volumes was largely driven by swaps trading. CLS reports an ADV of $1.149 trillion in swaps submitted last month, which represents a 5.4% increase from the $1.09 trillion submitted in October and a 22.6% increase on the $937 billion submitted in November 2016.

Meanwhile, the ADV for FX spot submitted to CLS was $439 billion in November, up 2.8% from the previous month, but down 14.6% year-on-year.

Forwards represented $89 billion of the total ADV submitted to CLS in November, down 10% from October but up 4.7% compared to November 2016.

Reuters Enhances MTF Ahead of MiFID II

Thomson Reuters has released into production, system enhancements to its Multilateral Trading Facility (MTF) to support FX derivatives trading in compliance with MiFID II regulations.

Thomson Reuters FXall and Forwards Matching users can now access liquidity on the MTF, which meets multiple MiFID II requirements relating to execution workflow, trading controls, post-trade transparency and reporting.  MiFID II takes effect on January 3, 2018. 

“We are extremely pleased to have reached the milestone of releasing the system enhancements into production to facilitate MiFID II compliance.  In parallel, Thomson Reuters continues to work very closely with our customers and regulators to ensure a smooth transition into the new regulatory environment,” says Neill Penney, global head of trading.  “As the implementation date approaches, we remain committed to continuing our approach of being a valued partner and advisor to our customers.”

And Another Thing…

With December in financial markets only livened by the shenanigans of bitcoin, including the launch of futures trading (complete with trading halts), it is time to unveil the next Irrational. It’s a favourite of mine, Analysis of the Year, and boy is this one competitive!
The easy option would be to pick out a few predictions that went horribly wrong and highlight them, but that would be unfair as we all get it wrong from time to time, just look at my Trade of the Year record in the Profit & Loss Crystal Ball!

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