Tag Archives: hft

High Frequency Needs High Touch

Originally posted on the Greenwich Blog There is a tremendous amount of irony in the path high-frequency trading – excuse me, principal trading firms have taken from their heyday in the late 2000’s.  We alluded to this a few months ago in our Top Market Structure Trends to Watch in 2017: When I first started meeting… Read More »

Global FX Investors Increasingly Seek Non-bank Liquidity

Below is the press release for my most recent paper examining changes in the global FX market.  The bottom line: big banks will continue to play a huge role, but non-bank liquidity providers will up there game increasingly interacting directly with institutional investors.  Bloomberg News also highlighted our finding that hedge fund use of execution… Read More »

It Takes Energy – HFT in the Energy Market

The presence of principal trading groups (PTGs) in the exchange-traded derivatives market, and their absence in thecredit and rate swaps markets, are both the cause and effect of turnover frequencies. TABB Group estimates that proprietary trading (including bank proprietary trading) accounts for 55 percent of futures trading by contract volume and 41 percent of U.S.… Read More »

Principal Trading Groups (PTGs) Set to Act as Market Makers for Interest Rate and Credit Default Swaps

Principal Trading Groups (PTGs) Set to Act as Market Makers for Interest Rate and Credit Default Swaps, Says TABB Clearing Access and ‘Click-to-Trade’ Will Make or Break PTG Swaps Market Entry Following Dodd-Frank Reform Rules Implementation NEW YORK & LONDON, July 19 2011 – Financial regulatory reform efforts covering over-the-counter (OTC) derivatives are setting the… Read More »