Day: 21 March 2018

Survey Sees Advanced Tech as “Essential” to Fixed Income Trading

Liquidnet has published the results of a recent survey of global asset management firms that explores how MiFID II impacts the role of technology in trading corporate bonds.
According to the study, titled Future Tech—Trading Bonds Post MiFID II, 86% of respondent firms had technology in place to comply with the MiFID II implementation date, however, 86% of firms also said there were currently in the process of re-configuring workflows and 68% improving data collection. The research also notes that over three-quarters of respondents are planning to upgrade their technology solutions in 2018.

FMSB Details Trading Error Compensation Standard

The FICC Markets Standards Board, which was set up in 2015 in response to the UK’s Fair and Effective Markets Review with a mandate to issue Standards designed to improve conduct and raise standards in the wholesale Fixed Income, Commodity and Currency markets, has published its Transparency Draft Standard on Secondary Market Trading Error Compensation.
The Standard deals with the issues concerning how compensation should be paid following a trading error, although it does not address the circumstances in which the error might arise, how the risks of such circumstances might be mitigated, the reasons why a party may compensate another party, or the desirability or magnitude of compensation.

Three Depart Nomura

Mark Rossi, managing director, Kurt Magnus, head of real money FX sales, and Paul Lynn, managing director, head of macro sales, EMEA, for rates, FX, EM and F&O, have all departed Nomura in London, according to market sources.

A spokesperson for Nomura declined to comment on the departures.

Rossi first joined Nomura in April 2010 as an executive director in hedge fund sales. He joined from hedge fund Pharo Management, and had also worked at Bank of America and Goldman Sachs.

Magnus joined Nomura Australia in 2010 as an executive director and head of FX sales, and transferred to London in 2012 as an executive director on the real money desk. He was promoted to head the real money desk in 2013, according to sources.