BNP Paribas has extended its partnership with New York based market maker GTS for US Treasuries to include US equities. First agreed upon in November last year, BNP Paribas teamed up with GTS in a bid to provide its clients with better liquidity, tighter spreads and improved pricing in US Treasuries. The initial partnership saw BNP Paribas implement GTS’ trading and technology tools and added the market maker’s liquidity into its framework. Both firms also currently use a mutually-developed technology platform to provide the French bank with access to greater liquidity. Since...

Broadridge Financial Solutions, Inc. has partnered with Tableau Software, delivering enhanced analytics and visualization capabilities to Broadridge’s investment management clients. Clients will have seamless integration between the Broadridge Investment Management Data Warehouse and Tableau to provide self-service access to individualized analytics, customizable digital reports and interactive dashboards. Tableau’s analytics platform gives Broadridge clients access to emerging technologies with capabilities like smart data recommendations powered by machine learning, and...

The Depository Trust & Clearing Corporation announced that it has advanced to the testing phase of its project to re-platform its credit derivatives Trade Information Warehouse (TIW) on distributed ledger technology (DLT) and cloud. In this phase, 15 global banks are conducting end-to-end, structured user acceptance tests, leveraging simulated use cases and test data, validating the interaction between systems, firms and other key market infrastructure providers (including MarkitSERV and its new platform for credit, TradeServ). Upon successful completion, DTCC expects to move to an...

DTCC has released the first in a series of big data products drawing on historical data to provide insights of use to the front office. Equity Kinetics provides institutional investors with a comprehensive depth of market view of activity across all US equity trading venues. The product facilitates analysis of US equity market activity by providing a daily feed of trade data based on activity cleared through DTCC’s National Securities Clearing Corporation (NSCC) subsidiary, including historical data from December 2011 onwards.

On Friday, November 9th, FIF submitted comments on FINRA’s recent proposal to expand Equity Trading Volume Data published on FINRA’s website.  FIF’s comments focused on the definition of a Single Dealer Platform and the Proposed Rule’s requirements of mandating firms operating a SDP obtain an additional MPID. To review the letter, please click here.

FIF met with the SROs in-person on November 7th to discuss phase 2c representative order linkage reporting requirements to walk through current business practices in order to provide recommendations to allow OMS/EMS systems to capture and report phase 2c CAT reportable information.  Similarily, this Wednesday, FIF will meet with the SROs/ThesysCAT to discuss the remaining challenges related to FDID. 

FIF Rule 605 Subgroup -  Reviewed the content of the meetings with the SEC staff and covered next steps. FIF CAT Tech Spec Working Group - During the kick-off meeting for the working group a number of members provided suggestions regarding how best to maximize the efficiency of this working group to 1) provide industry members with an opportunity to propose additional use cases/scenarios to be included in the scenarios portion of the spec and 2) analyze the requirements portion of the spec, elicit best practices from peer firms, and pose questions/proposed FAQs to the...

Liquidnet, the global institutional trading network, announced that it has added emerging market bonds to its institutional Fixed Income trading platform. This latest addition comes amid growing institutional investor appetite for emerging markets bonds as they seek to diversify their portfolios and access growth opportunities in fixed income markets outside of North America and Europe. Liquidnet’s member firms can now trade bonds issued by corporations domiciled in emerging markets, as well as emerging markets government bonds in both hard and local currency. Six local markets have...

Citigroup Inc. is continuing to keep the chairman and chief executive roles separate as the bank’s board selects director John Dugan, a former top banking regulator, as its next chairman. Mr. Dugan will move into the role in January, following current Chairman Michael O’Neill’s retirement. Current CEO Michael Corbat will continue in that role according to a story in The Wall Street Journal. Mr. Dugan was a senior U.S. Treasury official in the late 1980s and early 1990s, and later advocated on behalf of banks as a partner at law firm Covington & Burling LLP. He was...