For an institutional investment manager that needs to add or reduce risk in its corporate bond portfolio, being able to trade a custom basket of dozens, or even hundreds, of securities in one shot is a big efficiency booster. According to a story in MarketsMedia news, portfolio trading has expanded to comprise about 7% to 8% of U.S. credit trading volume currently, a remarkable climb for a protocol that didn’t exist until the late 2010s. Paris Pender, Head of PT and Macro Credit Trading at electronic bond-trading platform Trumid, said it’s reasonable to envision that...

Charles Schwab has announced several new enhancements to the trading experience on Schwab.com and the Schwab Mobile app, designed to help the firm’s clients make more informed trades, as well as build and place orders more quickly and efficiently. Key updates include SnapTicket, a new order ticket that allows clients to enter orders directly from the Schwab.com pages they visit most frequently as part of their trading workflow. Clients can access SnapTicket with a single click on the right side of several commonly visited Schwab.com pages, including Order Status, Positions, Balances,...

BNP Paribas’ Securities Services business and Bloomberg have announced an integration that brings together BNP Paribas’ multi-asset servicing capabilities with Bloomberg AIM, a buy-side order management system. According to a story in Traders Magazine, the solution will provide mutual clients with seamless front-to-back workflows and standardized data connectivity to support efficient trade management. The offering delivers real-time post-trade workflows, enhanced by the bank’s middle office outsourcer data, utilizing seamless connectivity from automated trade instruction capture, to status...

Users of Robinhood Market's popular app will soon be able to trade shares in the middle of the night according to a story in The Wall Street Journal. Robinhood said that it will offer 24-hour trading of selected stocks and exchange-traded funds, five days a week. The move is part of a growing push in parts of the financial industry to expand trading beyond traditional Wall Street operating hours. The brokerage plans to allow round-the-clock trading between 8 p.m. ET Sunday and 8 p.m. ET Friday in 43 securities.  Robinhood will begin to roll out the feature this week, and...

State Street has chosen Eurex as the first clearing house outside the U.S. to trade and centrally clear repo transactions. The onboarding of one of the world’s largest custodian banks is another milestone for Eurex’s cleared repo markets. The first transactions have already been successfully executed. State Street has joined Eurex through its German subsidiary, State Street Bank International GmbH (SSBI). According to a story in MarketsMedia news, the power of multilateral netting will provide tangible risk management and collateral optimization benefits to State Street’s broad client...

Some of the biggest players in the financial markets have united to launch Canton Network, dubbed the industry’s first privacy-enabled interoperable blockchain network designed for institutional assets. By creating a ‘network of networks’, Canton will allow previously siloed systems in financial markets to interoperate with the appropriate governance, privacy, permissioning and controls required for highly regulated industries. Among those involved are BNP Paribas, Cboe, Broadridge and Goldman Sachs. According to a story in The Trade news the intention is that the Canton Network is “built...

On Thursday, May 11th at 11am ET, FIF will be holding a webinar on the operational and system impacts of a possible government debt default. The webinar will be moderated by FIF Advisory Chair, Tom Jordan and he will be joined by a panel of industry experts. The invite will be sent out later today and will be sent to the Back Office Committee, Data & Technology Committee, Compliance Working Group and the TRACE/Fixed Income Working Group.  If you are not part of these groups and would like to join, please email us at This email address is being protected from spambots. You need...

FIF has scheduled a call for Tuesday May 9 at 2 pm ET to discuss the SEC’s recent reopening of the comment period on the SEC’s proposed amendments to Rule 3b-16 (relating to the definition of an “exchange”). FIF has invited members of the ATS Working Group, the Compliance and Surveillance Working Group and the TRACE/Fixed Income Working Group to participate on this call. If you are not a member of any of these groups and would like to participate on this call, please update your FIF profile or contact This email address is being protected from spambots. You need JavaScript enabled to view it..

FIF has scheduled an additional call this week for the CAT Transaction Reporting Working Group to continue the discussion of CAT reporting for RFQ responses. This call is scheduled for Tuesday May 9 at 3 pm ET.