Tradeweb is extending the reach of its electronic fixed income and derivatives trading into the corporate bond market. The company launched the Tradeweb U.S. Corporate Bond Marketplace Wednesday with live streaming prices for round-lot trades and request for quote and list trading for both round-lot and odd-lot trades.
The patterns of trading activity on Swaps Execution Facilities are starting to shift, according to a new Tabb Group study, with client-facing SEFs winning a growing percentage of interest rate swap trading volume. The emerging pattern is a sharp contrast to when SEFs were first introduced last fall, when early signs indicated that trading activity would continue to mimic the trading patterns in the OTC swaps market before the introduction of electronic trading.
Shares in Hong Kong Exchanges and Clearing, Ltd. (HKEx), the world's largest listed stock market operator, closed down 4.7 percent Monday on news that the link between the Hong Kong and Shanghai...
Nasdaq's eSpeed has added U.S. Treasury bills to its electronic government bond trading platform and reports that it is already seeing notional average daily volume exceeding $4 billion and daily highs exceeding $10 billion. ESpeed says the introduction of T-bill trading is part of a larger plan to "ultimately complete the entire Treasury complex," and the move also signals Nasdaq's efforts to further diversify into fixed income, currency and commodities.
UBS Neo and trueEX have launched live order book trading of market-agreed coupon or MAC swaps, the standardized futures-like swaps that quant funds have long-anticipated could lend themselves to live streaming prices. MAC swaps have never before been listed as live actionable prices.
Bloomberg Tradebook announced a new exchange-traded fund trading service this week that it says is the first anonymous electronic request-for-quote (RFQ) service for ETFs. The service enables investors to anonymously access block liquidity from buy-side ETF liquidity providers in the U.S. and Europe.
It has been more than half a year since the first made-available-to-trade deadlines in February signaled the real launch of swaps trading on Swaps Execution Facilities or SEFs, and the trends on SEF usage remain so erratic that it's hard to read the tea leaves.
Not to be outdone, Markit has launched a standard protocol-based chat service, which enables banks to host and manage instant message chat rooms. The announcement comes less than one week after the launch of Symphony Communications Services, a consortium-backed open chat platform led by Goldman Sachs.
Charles Schwab is reportedly close to launching a new service that will compete with low cost services targeting new investors known as robo-brokers. The new service, being developed in-house is expected to be a free service, an unidentified source told Reuters.
The much-anticipated chat service that Goldman Sachs has been rumored to be working on with startup messaging company Perzo was formally announced Wednesday under the brand name Symphony.