Month: July 2020

US Personal Income Drops as Stimulus Winds Down

US Personal income fell further in June after a large May decline, again reflecting the pullback from the stimulus surge in April. At the same time, consumer spending rose solidly in each of the last two months due to business re-openings, but not enough to offset the sharp April decline the Commerce Department reported Friday. […]

Nice Actimize Unveils Surveil-X Conduct

In an effort to reduce what it terms “the growing risks associated with employee misconduct and market abuse in this current environment”, Nice Actimize has announced the launch of Surveil-X Conduct, a package of machine learning-based applications which the firm says helps financial services organisations assess, manage and mitigate a broad range of conduct risks across the enterprise, […]

TP Icap Buys Louis Capital Markets

TP Icap has paid $21 million in cash with a further $23 million in deferred non-contingent consideration, for European boutique inter-dealer broker Louis Capital Markets. Louis Capital’s 80 front-office employees operate primarily out of London and Paris, with smaller offices in New York and Hong Kong. Michael Benhamou and Patrice Cohen who founded and led the […]

Status Check: No Good News for Virus, GDP, Jobs; Trump Distracts

The following is Thursday’s status check of developments in the US that can influence economic, health and political outcomes: Thursday’s welter of policy countercurrents, paralysis and confusion about ominous suggestions from the president was in contrast to the stark facts about the virus that stood out in sharp relief, that there were 1,400 US deaths, […]

ISDA Urges Support for New Ibor Fallbacks

The International Swaps and Derivatives Association (ISDA), has published a statement strongly urging adherence to the association’s Fallback Protocol as part of the financial markets industry’s switch from Ibors to risk-free rates (RFRs). ISDA is planning to amend certain ‘rate options’ in its 2006 Definitions to include fallbacks that would apply upon the permanent discontinuation […]

Markts, XTRD, Partner for Crypto Access

TradingScreen’s Markts subsidiary has partnered with digital assets connectivity provider XTRD to enable end-users to connect to an additional set of crypto exchanges on the Markts order and execution management system. This integration will enable connectivity to a further 20-plus exchanges, the firms say and expand the list of venues enabled on the Markts platform. […]

Status Check: No Happy Talk from Powell: Virus Stats Grim

The following is Wednesday’s status check of developments in the US that can influence economic, health and political outcomes: The VIX mood ring turned a more mellow shade Wednesday, improving a notable 5.27% to settle at 24.10 by day’s end. US stocks finished the day’s session +0.61% or 160.29 points, and in early after hours […]

Fed’s Powell: Probably ‘Long Tail’ of Those Slow to Get Jobs Back

Federal Reserve chair Jay Powell, following a hold-in-place policy meeting Wednesday, stayed away from any happy talk about progress against the virus and unemployment, saying it will be quite a while before low jobless rates return. Referring to the “tail” outside the bulk of the reemployment distribution curve, Powell told reporters in the post-FOMC news […]

BestX Adds Equities to Product Suite

State Street’s BestX has expanded its execution analytics software and launched a post-trade transaction cost analysis (TCA) module for equity markets. Covering global stock markets, the new functionality provides clients with benefits of the BestX Web interface alongside flexible data analysis, report configuration and generation. “We responded to our clients’ needs by expanding BestX to […]

Sucden Adds TY3 Connectivity

Sucden Financial has launched its TY3 (Tokyo) matching engine, in conjunction with FlexTrade Systems. The new matching engine targets Asia-Pacific clients, providing a reduction in cross-region latency and an overall enhanced experience, with improvements to liquidity and price discovery during Asia trading hours. Combined with Sucden Financial’s established NY4 and LD4 infrastructure, the addition of […]