This is the PR on my latest two reports on optical networking and its role in financial services. Also check out the executive summary here. North American Financial-Services Firms to Spend $2.2 Billion in 2010 on Connectivity Two New Research Reports Reveal the Dividing Line between Data-Center and Optical Networking for Capital Markets is Seen […]
Category: TABB Group Research
Buy Side OMS and EMS: Integration, Expansion and Consolidation (TABB Group)
This is my latest research report looking at the buy side’s usage of trading technology. See the press release below, the executive summary at tabbgroup.com and coverage of the study from Securities Industry News and Advanced Trading. NEW YORK & LONDON – (Business Wire) According to new research from TABB Group, the integration of order […]
Buy Side Steps Up, and Streamlines: TABB Group Study (HedgeWorld)
See Full Article Here “There are EMS platforms with just enough order management functionality that some firms can get by with just an EMS,” explained Mr. McPartland. “And there are OMS platforms with just enough execution functionality that there is no need for an EMS.” According to Mr. McPartland, there is no all-in-one system that […]
OTC Derivative Reform – Coming up to the Majors?
On March 14, 2010 Senator Dodd and the Senate Banking Committee released their latest Financial Reform Bill. Broadly speaking, the few hundred pages of this bill dedicated to reforming the OTC derivatives market showed few major changes from either the previous Senate bill release in November 2009 or the House Bill passed in December 2009. This does not come as much of a surprise as the major tenets of OTC derivative reform appear to be decided – standardized products will be traded through a registered platform and centrally cleared, dealers will register with the SEC and/or CFTC based on the products they trade and all OTC derivatives trades not cleared will be reported to a trade repository and subject to margin requirements. The devil however, continues to be in the details.
OTC Derivative Reform Brings Huge Opportunities
OTC derivatives reform has become synonymous with shrinking dealer profits. Automation will shrink spreads, clearing will raise costs and central clearing will erode this control of the market. But there is another side to the reform story, one of wide-eyed entrepreneurs who see huge opportunities in the expected market revamp. In addition to the more […]
The Evolving FX Market – A discussion with the CEO of FXAll
In my conversation with the CEO of FXAll, we discuss their acquisition of LavaFX, regulatory changes impacting the FX market and the adoption of TCA on the FX trading desk.
GeithnerGate: Love Him or Leave Him?
An investigation into the government rescue of AIG unearthed emails showing that the NY Federal Reserve, at that time under the control of now Treasury Secretary Timothy Geithner, strongly encouraged AIG to hold back public announcement of parts of its derivatives portfolio and the billions in collateral payments it made to its dealer counterparties. Many […]
Tax Avoidance or Smart Investing?
What else can derivatives be blamed for? OTC equity derivatives are now in the spotlight of the IRS for promoting tax avoidance. The theory is that an equity swap allows the purchaser to collect dividends on the “swapped” stock without paying the taxes associated with actually owning that stock. I can certainly see the merit […]
Latency Transparency and the SEC: Interesting but not Relevant
Almost everyone agrees on one thing regarding financial reform – the need for more transparency. Price transparency, market transparency and open position transparency have been talked about quite a bit. But within the SEC’s recent equity market structure concept document they’ve brought into focus a new one: “latency transparency”. Full Perspective Here
TABB Group Pinpoints the OTC Derivatives Regulatory Impact of The Wall Street Reform and Consumer Protection Act of 2009 (H.R. 4173)
McPartland analyzes the language of the bill, describes what the OTC derivatives reforms can mean for the marketplace and what lies ahead once the Senate passes their version of the bill by early summer 2010 before a compromise bill is readied for President Obama’s signature. “Depending on the complexion of the bill enacted,” he says, “there […]