MARKET NEWS
BNP Paribas loses Puget to BlueCrest
Francois Puget has joined fixed income macro trading firm BlueCrest Capital Management as a senior portfolio manager after almost 30 years with BNP Paribas.
Based...
CME markets down as data centre overheats
Markets are currently halted at CME Group due to an overheating data centre.
The Globex futures and options market, cash FX EBS market and direct...
US retail goes big on directly-held bonds
Retail investors are leaning back into bonds, according to a recent Coalition Greenwich report – and are increasingly owning them directly, rather than through...
Doriane Geyler Rojas joins Ostrum AM
Doriane Geyler Rojas has been appointed business manager and project lead within the "direction des gestions" at Ostrum Asset Management.
Ostrum AM says it manages...
“Carelessness, inattention, inadequate safeguards”: FCA hits back at Ediphy
The FCA has disputed Ediphy’s allegations that its consolidated tape provider e-auction process experienced a technical fault, and did not register its weighted average...
S&P Global acquires With Intelligence
S&P Global has acquired private markets data, insights and analytics firm With Intelligence in a US$1.8 billion deal.
The company announced in October that it...
FEATURES
Credit futures see OI and ADV increase more than sevenfold YoY
The adoption of credit futures as a mainstream credit trading vehicle is broadening across venues and currencies: US$ iBoxx total return based futures traded...
Trade size growth undercuts European bond market ‘equitification’
Since 2023 European corporate bond markets have seen trades size grow, as trading platforms report increasing volumes
“If we break down electronic trading growth in European...
The pretenders, and kingmakers, to the bond throne
Dealers are backing several new trading platforms who are fighting major incumbents for market share.
In the bond market, the trading platform landscape has been...
Declaration of dependence
US president to oversee financial institution regulation amid deregulation drive.
Executive orders signed by US president, Donald Trump, have given him oversight of all US...
PROFILES
RESEARCH
Bond traders predict data science/AI use explosion in 2026
The DESK’s Corporate Bond Liquidity Access Survey, supported by LTX, finds trading desks are on the cusp of change.
Buy-side traders see 2026 as a turning...
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RISK & RETURN
FROM THE ARCHIVES
TORA’s OEMS integrates with Liquidnet’s IA Trader
Trading systems provider TORA has integrated its order and execution management system (OEMS) with a global institutional investment network, Liquidnet’s IA Trader. The integration...
Origination: Meta sold US$30 billion of AI bonds on 30 October
Meta Platforms, the US investment grade social media platform operator, priced and sold a six-part dollar deal, with a net value of US$30 billion,...
US Treasuries lost its ‘sell-side’; can clearing and capital rules revive it?
Market participants report the current proposals by the US Securities and Exchange Commission (SEC) to centrally clear trades in the US Treasuries market are...
Investor demand: China’s US$759bn Treasury holdings hang by a thread as tariff war escalates
A continued sell-off in Treasury bonds, exacerbated after a notably poor 3-year auction on Tuesday, 8 April, has sparked widespread speculation among market participants....
ECB warns ‘dark trading’ may cement bond market fragmentation
A paper by the European Central Bank (ECB), entitled ‘Dark pools in European equity markets: emergence, competition and implications’ has advised firms to be...
Rules & Ratings: S&P Global brings standard identifiers to private credit
S&P Global has expanded its LoanX IDs (LXIDs) to provide private credit identifiers.
The LXIDs identify instruments across counterparties and datasets, enabling them to be...
The Book: Barclays makes four investment banking appointments
Barclays has made a number of appointments within its investment banking division. By shoring up its investment banking business, the firm may be looking...
Buy side reports price movement risk in Treasury trading
Automated trading and derivatives are changing the way US Treasuries are traded, exposing the buy side to high-frequency trading strategies. Chris Hall reports.
If big...
July 2023: MarketAxess sees mixed bond ADV results
MarketAxess sees mixed bond ADV results in July 2023, credit ADV up 8% YoY
MarketAxess has reported total credit average daily volume (ADV) of US$11.4...
BGC claims record Q4 as leadership transition takes effect
BGC Group has posted Q4 revenues of US$572.3 million and full-year figures of US$2.26 billion, and it set to launch FMX Futures to directly...
FCA fines three broker firms £4.7 million market abuse failures
The Financial Conduct Authority (FCA) has fined interdealer brokers BGC Brokers, GFI Brokers and GFI Securities £4,775,200 for failing to ensure they had appropriate...
Jesse Forster joins Coalition Greenwich
Capital market analyst firm Coalition Greenwich has hired Jesse Forster as a senior analyst on its market structure and technology team.
In his new role,...
