Monday 20th October 2014
slib33
FRIDAY TICKER: OCTOBER 17th 2014: Morgan Stanley’s third quarter earnings beat analysts’ estimates today, with strong equity sales and improved results across its fixed income and commodities trading. The New York-based bank reported a third quarter net income $1.71bn, or 84 cents a share, up from $906m, or 45 cents, a year earlier - China business sentiment slipped for the second consecutive month in October, falling to an eight month low, amid calls for the Chinese authorities to do more to boost growth - The Depository Trust and Clearing Corporation (DTCC) and other market participants have formed an industry steering committee and an industry working group to facilitate the move to shorten the settlement cycle in the US for trades in equities, corporate and municipal bonds, and unit investment trusts (UITs) - Old Mutual’s wealth management operation has reached deal to acquire UK investment manager Quilter Cheviot for £585m - Northern Trust has opened a representative office in Seoul, South Korea, following regulatory approval from the Financial Services Commission (FSC) - KfW IPEX-Bank is supporting a large-scale innovation project in Europe with a loan of €75m. Within the framework of a multi-year investment programme, the international chemical group Borealis is pursuing research and development of plastics raw materials at its facilities in Linz, Porvoo (Finland) und Stenungsund (Sweden) - The Bank of Russia will start providing the market with dollars and euros at weekly foreign-exchange repo auctions in late October to smooth out the ruble rate volatility, the central bank said today. The central bank says it will provide up to $50bn to the banking sector by end-2016 in a move aimed at fulfilling demand for foreign currencies at a time when external borrowing markets are effectively closed to Russian companies and lenders due to Western sanctions. The ruble, recently driven to all-time lows by falling oil prices and domestic demand for hard currency, recovered to around RUB45.9 against the euro-dollar basket from levels of RUB46 seen before the central bank's statement.

Much ado about HFT

Wednesday, 23 May 2012
Much ado about HFT FIA EPTA debunks high-frequency trading myths at MiFID II paper launch http://www.ftseglobalmarkets.com/

FIA EPTA debunks high-frequency trading myths at MiFID II paper launch

Launching its position paper on the review of the EU’s Markets in Financial Instruments Directive (known as MiFID II), FIA European Principal Traders Association has addressed what it claims to be  misconceptions surrounding high-frequency trading (HFT).“It’s time to bring more balance to the HFT debate, which until now has been driven by emotive language, anecdotes and fabrications rather than hard fact,” says FIA EPTA chairman Remco Lenterman. “For example, many people don’t realise that market abuse—as well as being morally reprehensible—comes at a hefty price for the market. So principal trading firms such as our members have a very real economic incentive to fight market abuse and back regulatory reform,” Lenterman adds, claiming that the industry’s critics have chosen to overlook the value that principal trading firms add to the real economy in terms of lower transaction costs and greater liquidity.

FIA EPTA is an association of European principal traders formed in June 2011 under the auspices of the Futures Industry Association (FIA). FIA EPTA represents more than 20 principal trading firms that, on a combined basis, are responsible for very significant volumes of trading in many asset classes on European regulated markets and multilateral trading facilities (MTFs). On average and across the main trading venues in Europe, one in two transactions in futures and one in three transactions in equities very likely have an FIA EPTA member firm on one or both sides of the transaction.



The position paper highlights FIA EPTA’s backing for a comprehensive regulatory framework and the regulation of all market participants with memberships to regulated markets and multilateral trading facilities. It also argues for well calibrated order-to-trade ratios determined by trading venues to ensure orderly trading on their platforms. Equally it expects trading venues and market participants to have robust risk controls in place to address risks inherent in electronic markets as well as ESMA’s guidelines on systems and controls in an automated trading environment, and supports transparent and open markets along with pre- and post-trade transparency measures and on-exchange trading. “We strongly support measures that ensure safer, more resilient markets, but we urge policymakers to carefully weigh the costs of such measures. No one benefits if badly designed regulations disrupt liquidity and drive up costs for traders and investors,” Lenterman said.

FIA EPTA represents firms that trade their own capital in the European exchange-traded markets. The association estimates that its members are responsible for a substantial part of the traded volumes on European exchanges and multilateral trading facilities.

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP

White Paper

Seeking Optimal ETF Execution in Electronic Markets

Seeking Optimal ETF Execution in Electronic Markets

 
pdf Download PDF View all Whitepapers

Related News

Related Articles

Related Blogs

Related Videos