Liquidnet announced that it has named Sujay Telang as its new Head of Equities Technology. In his new role, Telang will drive the development of Liquidnet’s equity trading platform and the creation of new, data-driven offerings, namely in algorithmic trading. He will also work collaboratively with leadership in Liquidnet’s Fixed Income and Investment Analytics businesses to help drive opportunities for integration, client support, and market leadership.

Deutsche Bank announced that it will establish an electronic foreign exchange (e-FX) hub in Singapore by developing an FX trading and pricing engine onshore, in conjunction with the Monetary Authority of Singapore. The Singapore e-FX hub will provide clients with the ability to execute FX transactions more closely aligned with geographic location, reducing latency, improving on local price transparency and liquidity. The Deutsche Bank e-FX hub will be developed and staffed locally and will be aligned to Deutsche Bank’s focus across e-trading, fintech clients, and digital FX payments.

Refinitiv has expanded the data accessible via its FXall trading platform to include spreads as buy-side traders continue to navigate FX markets amid the coronavirus pandemic. The move will allow traders to directly access market spreads data on FXall through Refinitiv’s trade performance analytics service, a web-based and self-service analytics platform that assesses transaction costs, and historical trading performance. Refinitiv added that the expansion also means buy-side traders using the FXall multi-dealer trading platform can monitor and compare spreads that they have been quoted by...

China approved JPMorgan’s application to operate the first fully foreign-owned futures business, as the world’s second-largest economy pushes ahead with opening its multi-trillion-dollar financial market. According to a story in Reuters news, JPMorgan sought full control of its China futures joint venture last December as Beijing moved to scrap caps on foreign ownership. The futures industry in China is currently dominated by local players. The China Securities Regulatory Commission (CSRC) said in a statement posted on its website the approval would bring in more qualified foreign players.

Broadridge Financial Solutions, Inc. announced that its new AI-driven corporate bond trading platform, LTX, has executed its first trades. Broadridge has partnered with Jim Toffey, founder of Tradeweb Markets, to create LTX, which combines artificial intelligence (AI) with a new digital execution protocol that enables broker-dealers to significantly improve market liquidity, efficiency, and execution for their buy-side customers. Built on Broadridge’s US Fixed Income post-trade processing platform, LTX uses AI (LTX AI) to help broker-dealers digitize their franchise to maximize liquidity...

Nomura and its cryptocurrency partners Ledger and CoinShares launched Komainu, a custodian to safeguard digital assets for financial institutions. Several large financial institutions, including Nomura, are hoping that traditional assets such as bonds or stocks can be digitized and issued using blockchain technology to cut costs and simplify some processes. Komainu can integrate with the technology systems of financial institutions and will only accept clients and tokens that have passed anti-money laundering and provenance checks.

UBS has recently implemented machine learning technology within its Bond Port fixed income platform, as it looked to customize liquidity for its clients. The investment bank deployed the technology towards the end of the volatility driven by the coronavirus pandemic to ensure that the right clients are seeing prices in bonds at the right time. The technology was applied to axes and prices within UBS Bond Port, which acts as a liquidity aggregation platform with connections with all major fixed income venues and developed in-house via the UBS strategic development lab.

Citi has added new functionality to its FX trading platform allowing traders to stage orders directly from execution management systems (EMS) for automated execution at a specific time in a local market. The platform provides a suite of FX execution tools, as well as access to Citi’s pre-trade research and analytics, local market execution, and post-trade transaction cost analysis (TCA). Traders can access local market execution in 80 countries where Citi has an onshore presence.

FIF CSDR/EU Buy-In Working Group - FIF was joined by representatives from the DTCC and ICMA who provided members with CSDR interpretative and implementation guidance.  Specifically, the ICMA and DTCC focused on ACATS/Conversions, Buy-In Penalities, Pass-Throughs etc...  FIF will be holding a follow-up meeeting with ICMA and DTCC Representatives on June 23rd at 10am to cover remaining questions and issues.  FIF/SIMFA/STA CAT Options Working Group - FIF reviewed the Paired Order business use cases (Single-Leg, Multi-Leg, Floor Broker) and the verbal/electronic...