TransFICC has announced the appointment of Gary Vann as Head of Sales in a year when its workforce has grown by 50%.
Based in London, Gary is responsible for business development globally. An industry veteran, he has worked in Fixed Income sales for over 30 years, most recently at Nasdaq Fixed Income where he was Head of EMEA Sales and Account Management. Previous roles included working at BGC Partners broking US Treasuries and $IRS, at BrokerTec in US and CAD Bond sales, and RMJ Securities as a US Treasury Broker.
The Indonesia Stock Exchange (IDX) has launched SPPA, a new Electronic Trading Platform (ETP) for secondary market trading of bond and sukuk.
Indonesia is one of the largest EM bond markets in the region, valued at around USD 220 BN equivalent. To date, 18 of the 20 Primary Dealers for Government Bonds (SUN) have become users of the platform, along with a further three Indonesian bond market trading firms which can start using the trading platform.
See Martin Thompson and Judd Gaddie discuss the Aeron enhancement - https://youtu.be/_fnSXpUYRLw
TransFICC has completed a dedicated enhancement to Aeron messaging. Aeron is ideal for financial markets trading as it combines fast and reliable messaging.
Market Structure Partners has published the findings of a study on the Consolidated Tape for Fixed Income and Equities, undertaken for the European Commission.
The study recommends the EC creates a single consolidated tape provider that is run as a utility whilst seeking to introduce further legislative changes to support the full solution.
It finds that:
Overbond, a fixed income analytics solution provider, has launched a real-time AI bond pricing product, which has the capacity to process real-time historical pricing data on over 30,000 securities with a refresh rate under three seconds.
The new service fills a gap in the market by aggregating multiple data sources on the client side across trading venues, data aggregators themselves and fundamental and settlement layer data. This provides traders with accurate bond pricing that can measure the liquidity of individual securities and enable automatic execution.
Ion trading is to sell the Broadway Fixed Income business in order to satisfy competition fears and complete the overall Broadway purchase.
In a report published by the UK's Competition and Markets Authority it states that Ion plans to retain Broadwa's FX business but divest Broadway Fixed Income. This demonstrates Ion's ambition in FX, as once the deal is complete, they will own Broadway FX, Barracuda FX, and MarketFactory.
Hudson Fintech, the London-based Capital Markets technology firm, has made two senior appointments to support its growth strategy.
Corporate bond traders are challenged when searching for liquidity and executing trades without data leakage. The market lags other asset classes in the adoption of e-trading, where only 30% of volume is traded electronically.
LedgerEdge aims to deliver a better ecosystem and experience for finding corporate bond data, sharing data, and executing trades, by combining blockchain technology, artificial intelligence, and secure enclave computing.
Neptune, the fixed income pre-trade market utility, recently closed a successful capital raise from existing shareholders, raising in excess of $15 million across two-tranches. The majority of Neptune's existing shareholders participated in the capital raise, including Bank of America, Barclays, BBVA, BNP Paribas, Citi, Credit Agricole CIB, Credit Suisse, Deutsche Bank, Goldman Sachs, ING, J.P. Morgan, Morgan Stanley and UBS.
The investment will be used to continue Neptune's growth in technology and data, as well as client coverage and the overall business structure.
In the previous article we covered the key topics investment managers need to consider when deciding whether to lend their securities. Here we look at the various routes to the market that should be considered once you have decided to lend. The organisational and portfolio characteristics are significant factors in determining the feasible routes to the lending market.