FIF will be holding a TRACE working group meeting on Friday, August 16 @ 11:00 am ET to discuss possible FIF comments related to recently published Regulatory Notice 19-25. Pursuant to the Notice, FINRA is requesting comment on a proposal to require reporting of transactions in U.S. dollar-denominated foreign sovereign debt securities to TRACE. FIF will review the Proposal with members to determine if any implementation concerns require comment. A discussion document will be provided prior to the meeting. If you are interested in joining this preliminary discussion...

FIF Data & Technology Committee - The meeting began with a spotlight presentation by Sync-n-Scale on CAT/MiFID II clock sync requirements. The spotlight topic was followed by a review of the monthly Market Data Capacity Reports and summary of exchange and SIP technical notes and updates. Finally, we reviewed recent or upcoming regulations that impact market data. Click here for the full capacity report. FIF CAT Working Group- FIF reviewed the recently published Industry Member Onboarding regarding CAT Connectivity published by FINRA CAT and next steps pertaining to...

JP Morgan is backing the use of machine learning for the future of foreign exchange algorithmic trading, after applying the technology to its FX algos earlier this year. The investment bank launched Deep Neural Network for Algo Execution (DNA) as a tool to bolster its FX algorithms in April, using machine learning to bundle its existing algos into a single execution strategy. JP Morgan said that its decision to create DNA for its FX algos was inspired by technological developments in the equities trading space. The bank launched a proprietary equities trading execution service using machine...

Virtu Financial will launch an outsourced trading service and bring the Triton execution management system (EMS) to FX markets as part of a major strategy revamp following its $1 billion acquisition of agency broker ITG. Known as Execution Concierge Service (ECS), the outsourced trading service will use Virtu’s multi-broker technology platform and products, combined with its high-touch trading and global client coverage. ECS will target small-to-mid-sized asset managers and investment firms that want to use outsourced trading to supplement internal trading desks. The new trading...

Vela announced the addition of the IMC Electronic Liquidity Providing (ELP) Systematic Internalizer (SI) to its list of global SMDS feed handler coverage. Vela’s software-based feed handling solution, SMDS, provides ultra-low latency normalized access with global coverage and support for all major asset classes. Forming part of a wider MiFID II offering, Vela has onboarded a range of Systematic Internalizers helping clients to consolidate all types of disparate liquidity across Europe. The offering can also be managed via Vela’s Ticker Plant Appliance. IMC develops technology...

Raymond James has launched a new algorithmic trading platform for its institutional equities clients, MarketsMedia reports. The new product is known as Raymond James Electronic Trading or RJET. RJET contains a suite of 11 benchmarking and liquidity-seeking algorithms with additional algorithms to be added. The platform is being rolled out to the firm’s 1,000+ institutional clients, each with unique trading styles and execution needs to which RJET can be tailored.

Intercontinental Exchange Inc announced it has plans to acquire a family of fixed income volatility indices, including the prominent Merrill Lynch Option Volatility Estimate (“MOVE”) family of indices, from Bank of America Merrill Lynch. The MOVE Index is a well-recognized measure of U.S. interest rate volatility that tracks the movement in U.S. Treasury yield volatility implied by current prices of one-month over-the-counter options on 2-year, 5-year, 10-year, and 30-year Treasuries. ICE will also acquire other variations of MOVE that track different option expiries, as well as...

Cboe Global Markets Inc plans to build a research and data platform that will provide its customers with trading insights and spur new financial products, the exchange operator said. The new platform would include raw market data and derived data from its existing products. The platform is still in early stages but will eventually “help fuel the long-term growth” of Cboe, Chief Executive Officer Ed Tilly said. “This is a very exciting project for our team and one that leverages unique Cboe strengths, technology, research, and development to provide tailored trading...

FIF is pleased to announce that CLSA Americas, LLC has joined the FIF Community.