You are viewing all posts by, David Morgan

trading and client connectivity, SunGard’s global trading business

12
Dec
2012

European Equity Trading: Research and Regulation Collide

Contributor:

Tabb Group’s new report, “European Equity Trading 2012/2013: Changing the Rules of Engagement,” highlights some issues that we must hope politicians will note during their review of the MiFID regulations. It’s no exaggeration to say that Tabb’s research profiles an equity market in crisis ─ arguably one that is dysfunctional in some important respects. “Lit book” trading volumes have again fallen sharply in 2012, and there has not been a correspondingly large increase in dark pool trading. So the predicament, as it appears to most buy-side firms, is one of vanishing liquidity. And the buy-side’s primary concern – as reported to Tabb – is how and where to find what liquidity is left.... read more

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Posted in Capital Markets, Efficiency, Global Markets, Global Trading, Risk & Reg Reform, Transparency |

trading and client connectivity, SunGard’s global trading business

16
Jul
2012

Why should brokers focus on total cost of ownership?

Contributor:

For smaller European broking firms, particularly those engaged in regional business, the implementation and management of technology and connectivity across multiple trading venues post-MiFID is proving increasingly costly and time-consuming. Adding to this pressure, client and regulatory demands to deliver best execution have to be met in a context of declining volumes and intense competition. The overall pressure on margins means that brokers have to consider carefully how to undertake any business development initiatives in the most efficient and cost-effective ways.... read more

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Posted in Capital Markets, Efficiency, Global Markets, Global Trading, Technology, Trading |

trading and client connectivity, SunGard’s global trading business

26
Jun
2012

The State of Listed Derivatives [UPDATE]

Contributor:

DECEMBER 2012 UPDATE: 2012 has seen the multi-year boom in listed derivatives trading suffer an abrupt reversal, with a 10%+ decline in year-on-year volumes. The boom had seemed to be indestructible, buoyed up as it was by the surge in world commodity markets and growth in currency futures volumes. Several other factors also contributed: wider buy-side market awareness, particularly in emerging markets, more flexible investment mandates at many firms, and the need to hedge against persistent cash market volatility.... read more

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Posted in Capital Markets, Risk, Risk & Reg Reform, Trading |

trading and client connectivity, SunGard’s global trading business

30
May
2012

How real-time can risk management be?

Contributor:

The regulatory push towards real-time trading risk management was addressed in a panel session at the 2012 SunGard Industry Seminar in London. The discussion pulled together of a lot of useful information for participants, but ultimately didn’t generate too much controversy. It seems that the regulators are for the most part pushing at an open door with their demands for tighter pre-trade risk controls. Stories abound, we’re told, of risk management teams now able to pursue projects they had long thought important or even necessary, but had historically lost out to other competing priorities. ... read more

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Posted in Capital Markets, Risk & Reg Reform, Transparency |

trading and client connectivity, SunGard’s global trading business

9
May
2012

Capital markets regulation: Time for a rethink?

Contributor:

The noise created by the flood of new regulations proposed for the global capital markets, plus the resulting storm of debate, continues to grow louder. I’ve been participating as a technology supplier – but also as a bank depositor, retail investor and pension fund holder. I ask myself how the changes are going to help me: after all, some of the regulatory initiatives - notably MiFID 2 - have the interests of the retail investor as central principles. But as currently framed, I fear that few of the proposals will hit this target, and I wonder whether it’s time for a radical rethink.... read more

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Posted in Capital Markets |