Hints and tips:
...In February, Michael Bloomberg turned 81....
...banks are instrumental in maintaining liquidity, the market has become more diverse, and what we saw during the pandemic was that electronic systems continued to supply data and [to] function,” says Kevin McPartland...
...But Michael Decker, vice-president of policy and research at BDA, said the SEC, led by new chief Gary Gensler, has confirmed the rules will also affect government and corporate bonds under the amendments...
...Both will want to be first and fastest,” said Kevin McPartland, head of market structure and technology research at Greenwich Associates....
...The stock exchange that shot to prominence in Michael Lewis’s 2014 book Flash Boys never attempted to compete for the high-profile business of initial public offerings....
...“This would be a bold move in the shift among exchanges away from the matching of buyers and sellers and into the business of selling information,” said Kevin McPartland, head of market structure research...
...“[It] now heavily relies on futures prices when trading in the cash markets,” says Mr McPartland....
...“Copycats don’t normally work,” says Kevin McPartland, head of market structure research at Greenwich Associates....
...The market has recently seen high-profile exits including Andrew Lombara at JPMorgan and Michael Yarian at Barclays....
...“You can never say never with new technology, and [it] has brought new ways of data integration that we never expected,” says Mr McPartland....
...“A lot of them look promising and their approaches are innovative,” says Mr McPartland....
...“We will probably see the bigger venues only look at the new entrants that have unique technology,” says Mr McPartland....
...I don’t think anything has changed,” says Michael O’Brien, global head of trading at Eaton Vance, a US investment manager with nearly $300bn of assets under management....
...Sophisticated algorithms have come to dominate most daily trading on equity markets, as chronicled by US author Michael Lewis in his book “Flash Boys” earlier this year....
...Kevin McPartland, head of research for market structure and technology at Greenwich Associates, a financial services company, says: “Certainly, there are a handful of people out there who continue to look...
...“A single screen provides a better user experience,” says Mr McPartland....
...Kevin McPartland, principal at Greenwich Associates said: “The goal of the CFTC is to create an orderly and functional market....
...“Despite the unknowns, complexities and costs, the dealer community feels that it is ready for change,” says Mr McPartland....
...Kevin McPartland, director of fixed-income research at the Tabb Group, the US capital markets consultancy, said disagreements among agencies and lawmakers were a main source of delay....
...“Some of the most contentious rule proposals are those that will impact liquidity fragmentation the most,” says Kevin McPartland, senior analyst at Tabb Group....
...“The main message we are hearing from the industry is that they should be left to decide how to trade swaps and that the rules not be overly prescriptive,” says Kevin McPartland, director of fixed income...
...seamlessly integrate with dozens of new touch points including SEFs, clearing houses and swap data repositories while working to stay compliant and profitable in this increasingly automated world,” said Kevin McPartland...
...the creation of SEFs reducing systemic risk means either Washington missed the mark or SEFs are not a part of the systemic risk story at all…that’s left to clearinghouses and repositories,” said Kevin McPartland...
...“There are a lot of geo-political issues involved in the US trying to regulate currency trading,” said Kevin McPartland, senior analyst at Tabb Group....
...“With liquidity so thin, under this new model the simple presence of a quote will alert the rest of the market that someone has an interest in a certain contract,” says Mr McPartland....
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