Day: January 10, 2019

And Another Thing…

There is nothing like a flash event to get people excited and for news outlets to dust off and update the old “blame the algos” stories for publication. Equally, there are members of our industry of a (ahem) certain generation who are quick to jump on the bandwagon with the rejoinder “it wasn’t like that before the machines”.
As a member of that “certain” generation I can assure readers that it is utter nonsense and that last week’s flash event was triggered by a human.

OTCXN Continues Growing its Network

OTCXN, a blockchain-powered capital markets infrastructure company today announced that Fractal Wealth, a proprietary algorithmic trading firm that trades digital assets, has joined its network.This news comes just days after OTCXN revealed that OSL, an OTC digital asset brokerage company in Asia-Pacific, has also joined its network.“We are pleased to have Fractal Wealth join the OTCXN network. They represent a unique source of liquidity for our rapidly growing and diverse institutional client base. As an algorithmic trading firm, they will benefit from the ability to trade programmatically on OTCXN’s ECN, LiquiMatch. OTCXN’s aggregated liquidity spans both native, resting dark and lit orders, executable quote streams from major liquidity providers, plus institutional, as well as retail exchanges that have joined the network.

SGX Completes First USD/CNH FlexC FX Futures Trade

Singapore Exchange (SGX) has successfully completed the first USD/CNH Flexible FX futures trade.The transaction involved Bank of China (Singapore) and ICBC (Singapore) executing two CNH FlexC FX futurised swap trades on SGX. A total notional value of $8 million changed hands.“The transaction marks a major step forward in bringing together the listed and OTC markets in FX. With global regulatory initiatives such as Basel III and MIFID II coming into play, financial institutions are facing an increasing burden of capital requirements that include Leverage Ratio, Liquidity Coverage Ratio and Counterparty Credit Risk charges, as well as Uncleared Margin Rules (UMR) for OTC derivatives.