15 for 15: Top Market Structure Trends to Watch in 2015

15 for 15: Top Market Structure Trends to Watch in 2015

Market structure happenings have been fast and furious since 2009, and 2014 did not disappoint.  Mandatory SEF trading finally began, fixed income electronic trading continued…

The GOP-led Congress will not repeal Dodd-Frank, nor should they

The GOP-led Congress will not repeal Dodd-Frank, nor should they

Early in November I chaired the FTF DerivOps conference in NY.  The conversation in 2014 was a lot more about the market than it was…

Trying to divine the evolution of the SEF landscape

Trying to divine the evolution of the SEF landscape

I’ve been at Greenwich Associates a little over a year now.  Since I’ve been here I’ve written a few blog posts about SEFs, but have…

FX volumes are down, but its more than just economics

FX volumes are down, but its more than just economics

First some admin notes.  We’ve recently created an official Greenwich Associates market structure blog.  The goal was to create a seamless method for us to…

FX Markets are Ready for a Shake-up

FX Markets are Ready for a Shake-up

The biggest finding in our latest report on FX electronic trading was nothing.  Our 1500+ interviews with global FX users showed continued growth in electronic…

What is Market Structure, And Why You Should Care

What is Market Structure, And Why You Should Care

If you work in institutional finance you’ve heard talk of market structure. Not only are there entire conferences dedicated to the topic, but most of…

Why Regulatory Changes Will Drive FX Trading Volume to Futures

Why Regulatory Changes Will Drive FX Trading Volume to Futures

Its been my experience that many in the market are ignoring FX in the global derivatives reform debate, thinking of them as broadly exempt from…

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…

The Results are In: What parts of the rate curve should be mandated for trading first?

The Results are In: What parts of the rate curve should be mandated for trading first?

Earlier this week the first two made available for trading applications were made to the CFTC starting the clock ticking for mandatory SEF trading.  Those…

MAT the MACs, or MAT Everything – Let’s Vote

trueEX yesterday filed their MAT application to start a CFTC review process alongside the one underway for Javelin’s application.  This will add a huge amount…