Day: 17 October 2018

Shterenberg Exits BAML

Sources familiar with the matter tell Profit & Loss that Alex Shterenberg, global head of FX algos at Bank of America Merrill Lynch in New York, has left the bank.
The sources say he is moving to another, as yet unnamed, sell side institution in a senior FX role.
Shterenberg joined BAML in May 2013 as head of FX e-commerce for the Americas before assuming his latest role. He joined from a six-year career at JP Morgan in New York, where he was head of FX algorithmic products. Prior to JP Morgan, Shterenberg had roles at Broadway Technologies and UBS.

The New Learning Curve: Using the Data

The paradox of data is, as observed by panellists at Forex Network Chicago, while the data itself is becoming cheaper and more easily accessible than ever before, the resources being allocated to analysing it are increasing, bringing with it increased costs.
“The core fundamental cost of collecting data and storing and processing it is cheaper than ever,” observed John Ashworth, CEO of Caplin. “The premium is going to be on the labour force that will be doing the work on the data.”

Refinitiv Expands Data Service via Amazon Cloud

Refinitiv, formerly the Financial and Risk business of Thomson Reuters, has announced that its Elektron real-time data delivery using Amazon Web Services (AWS) is being expanded.

In a recent survey of 250 financial firms across the globe, Refinitiv found that over 90% of firms surveyed said that they will use public cloud for the majority of their market data needs in less than four years. Further, 24% of them said that they expect to use public cloud for the majority of their market data needs within just one year.

In a release issued today, Refinitiv says that Elektron real-time cloud delivery can simplify access to real-time price information across the financial community and beyond by taking away the need to invest in on-premises infrastructure. The firm says that it also helps clients be more nimble by helping accelerate time to market for businesses that need access to real-time data.

Unpredictable Trend Changes Drive CTA Losses in September

The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.19% loss in September. However, currency trading remains the best performing sector this year.

“The US economy continues to strengthen in spite of pervasive trade war fears and continued Fed monetary tightening, while other countries have chosen to keep their rates low,” says Sol Waksman, founder and president of BarclayHedge.

He adds: “These contradictory monetary policies have created unpredictable crosscurrents and trend changes in futures prices.”

Eight of Barclay’s managed futures indices had losses in September, while only one had a gain.