Electronic trading
Dealer-run platforms face hard choices under Mifid II
MTF, OTF or SI: three options, but none that banks like
Interest rate derivatives house of the year: Citadel Securities
Swaps market outsider changes the way the game is played
Sef of the year: trueEx
Start-up Sef enjoys a breakthrough year by offering unique post-trade tools to the buy side
Massad: let market decide what it wants from Sefs
Voice v electronic execution decision left to market participants
Aggregators accuse Sefs of unfair pricing
Bloomberg and Tradeweb charge 'unreasonable’ connectivity fees, two platforms claim
‘There’s room for two’: reactions to Tullett/Icap deal
Hard work – and risks – facing voice specialist, say dealers and brokers
Banks held back e-trading for swaps, new lawsuit alleges
Icap and Tradeweb also named as defendants
Isda escapes CDS case pledge to help CFTC
Association still faces licensing overhaul as part of pending settlement
Lack of average pricing holding back Clobs, says buy side
Sefs, FCMs and CCPs not interested in finding a solution, however
CFTC parks Sef name give-up issue
"For the time being, we're not taking any action," says Massad
Sefs brand market abuse enforcement role ‘a non-starter’
CFTC signals softening on position limits monitoring, however
Thin liquidity makes human touch vital – credit buy-siders
Reliance on e-trading risks being 'left out in the cold' when markets dry up
Agency trading 'has not picked up' on Sefs – Tradeweb
Platform says agency volumes are at 0.5% of daily swap trading
HFT's Treasury market penetration a clear concern
Dominance of opaque shops poses concentration risks
The fast and the furious: HFT in US Treasury markets
Dealers: we're 'sitting ducks' in Treasury market overrun by HFTs
TruMid takes early lead in credit dark pool race
Nearly $2.5 billion of corporate bond trades have been executed on dark pools since May
Citadel shut out of Tradeweb as it makes US Treasury move
Firm is first non-bank on Bloomberg, but primary dealer catch means it cannot join Tradeweb
Interdealer brokers need to change, say critics
“I’m just a good guy and I buy you a beer” is no longer enough
Brokers defy BlackRock over average pricing on Sefs
"We're lions, not zebras," says Icap's Paulhac
Bank swaps headlock slips as Chicago prop firms join Sefs
HTG, Teza and TransMarket emerge as would-be providers of swap liquidity
Smooth operator: Japan looks to ease into electronic trading
JFSA aims to avoid a repeat of Sef mandate liquidity fracture
Japan regulators further relax electronic trading mandate
JFSA initially to mandate only three tenors of IRS for platform trading
Profile: UBS on the past and future of fixed income
Swiss bank's fixed-income trading floor is home to two distinct businesses
Mifid II threatens end to ‘mates’ rates’ in OTC market
Transparency rules for bilateral trades will end relationship-based pricing, banks warn