Market-making
US lawmakers divided over Volcker rule’s impact on bond liquidity
Both sides cite Fed data to support their interpretations of prop trading ban
Virtu’s bid for KCG stokes liquidity fears
Deal could result in less trading and lower exchange revenues
Lifetime achievement award: Yann Gérardin, BNP Paribas
Risk Awards 2017: Understated CIB chief helped build – and protect – today’s BNPP
Streaming liquidity provider of the year: XTX Markets
Risk Awards 2017: Ability to take risk and minimise market impact have helped the firm to build its direct liquidity business
Currencies flow market-maker of the year: XTX Markets
Risk Awards 2017: New-style market-maker defends old-fashioned virtues
Equities flow market-maker of the year: Citadel Securities
Risk Awards 2017: Chicago firm is trying to make the New York Stock Exchange more robust
Don’t keep up with the Kardashians
Dealers may have gifted the buy side an information edge
Pricing in the dark: how dealers lost their information edge
Asset managers may have an information advantage over dealers in bond pricing
‘Wrong type of liquidity’ spells trouble for energy hedges
Cyclical lull conceals structural shift as liquidity becomes shorter-dated and more flighty
SEC’s White ‘deeply concerned’ about bond market illiquidity
Agency to publish report on regulation and market liquidity in May 2017
Mifid II impact on energy liquidity sparks fiery debate
Regulators and industry clash over interpretation of Mifid II market-making rules at industry event
US-European rift deepens on leverage ratio
FDIC rebuffs European calls to allow netting of client clearing margin in leverage exposure measure
Floor trader confusion holding back new swap market-makers
Non-banks fear rules restrict non-cleared swap trading
MarketAxess to offer cut-price dark pool liquidity
High-yield bond block trades could be 100bp cheaper on new platform, says executive
Barclays opens up forex desks to last-look lawsuit
Agreement will help investors pursue other market-makers
Part fills add to liquidity woes and sharp price moves
Not trading in full amounts makes market-making harder and more expensive for clients, say market participants
Interview: Zar Amrolia on liquidity provision
Former co-head of Ficc at Deutsche Bank believes non-banks will become essential source of liquidity for banks
The fast and the furious: HFT in US Treasury markets
Dealers: we're 'sitting ducks' in Treasury market overrun by HFTs
Client list reveals HFT dominance on BrokerTec
Barclays and JP Morgan only banks on list of top interdealer firms for US Treasuries
Interdealer brokers need to change, say critics
“I’m just a good guy and I buy you a beer” is no longer enough
Bank swaps headlock slips as Chicago prop firms join Sefs
HTG, Teza and TransMarket emerge as would-be providers of swap liquidity
Nasdaq energy futures face liquidity challenge
Traders say new exchange may struggle to compete with CME and Ice
Profile: UBS on the past and future of fixed income
Swiss bank's fixed-income trading floor is home to two distinct businesses
Dark pools and platforms vie to fix credit markets
A side-effect of tough bank capital rules could be the rise of dark pools for credit trading