Changes in U.S. Corporate Bond Market: Evolution, not Revolution

Changes in U.S. Corporate Bond Market: Evolution, not Revolution

I spent most of my summer digging through our 2014 North American fixed income data looking to see what’s changed in the past year and…

Stock Market Keeps Its Faith in Humanity (WSJ)

Stock Market Keeps Its Faith in Humanity (WSJ)

The Wall Street Journal has a great featured piece today on the importance of the sales trader, which is something we at Greenwich have been…

US equity brokers made more money than last year – finally

US equity brokers made more money than last year – finally

We’ve just released the results of our benchmark US equities study, based on almost 600 interviews with US equity investors.  While Greenwich has been conducting…

Setting FX Benchmarks with Observable Data – My Interview with CCTV America

Setting FX Benchmarks with Observable Data – My Interview with CCTV America

For a market that is so electronic, using observable data to set benchmark rates shouldn’t be much of a stretch.  About two weeks ago I…

Electronic trading of bonds is growing – sort of…

Electronic trading of bonds is growing – sort of…

We all know that the massive reduction in dealer inventories and the cost of capital has had a huge negative impact on liquidity in the…

Impartial Access: The CFTC Isn’t Messing Around This Time

Impartial Access: The CFTC Isn’t Messing Around This Time

The CFTC issued a slew of new guidance and rules last week, two of them particularly interesting and impactful.  First was the rule that requires…

Mandatory SEF Trading Does Not Equal Mandatory Electronic Trading

Mandatory SEF Trading Does Not Equal Mandatory Electronic Trading

Forgive me if I’m stating the obvious for some of you, but I’ve had this conversation more than once and felt some clarity was in…

My Conversation with Ryan Sheftel, Head of Fixed Income e-Market Making at Credit Suisse

I recently spoke with Ryan Sheftel who runs fixed income electronic market making for Credit Suisse. CS is taking its experience from building AES in…

My conversation with the FT: big banks lose in derivatives reform (Video)

My conversation with Telis Demos at the Financial Times in NY; we discuss dealer profitability following derivatives reform and how electronic trading could ultimately lead…

Old Trading Strategies brought to the New Swaps Market

When automated market-making meets an already liquid market backed by real money trades, arbitrage opportunities quickly follow, which is the direction most liquid portions of…