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…

Swaps Platform Urges 'Better Than TRACE' Reporting Jumbo Trades (Wall Street Journal)

Defining a “block trade” in the swaps market is one of the many jobs of the regulators in the next few months.  As this story…

Flash Crash spotlights financial IT risks (Institution of Engineering and Technology)

The Flash Crash may very well be talked about more these days than the credit crisis.  Not only is it an area of interest for…

Goldman Alums To Launch Equity SEF (Derivatives Week)

This is the first announced equity swap focused SEF I’ve come across.  The people at the help of this company come from Goldman Sachs electronic…