The Desk: Average daily notional volumes (ADNV) for US rates dropped between April and May as uncertainties around trade policies and tariffs muted demand, but were up by a third year-on-year (YoY).
Bloomberg: Last year, 48% of U.S. investment-grade bonds traded electronically, up from 34% in 2021, according to Crisil Coalition Greenwich.
The Desk: The size of the muni market is estimated at $4.2 trillion, and is about 18% electronically traded, up from 6% in 2015, according to Bob Fink.
IFR: “[The] surge in client activity to reshuffle investments and reposition hedges ... was very profitable for banks and other FX market makers,” said Angad Chhatwal.
Bloomberg: A newer crop of market makers, including Citadel Securities and Jane Street Group, are chipping away at banks’ dominance of the business. A group of them generated $25.6 billion of revenue from trades in equities, credit, currencies and...
Flow: Corporate treasurers will have to embrace innovative technology to meet new challenges facing their departments and rising expectations from the C-suite. Dr. Tobias Miarka, Head of Corporate Banking, draws on Crisil Coalition Greenwich...
Markets Media: Crisil Coalition Greenwich said in a report: “We expect the product range on derivatives exchanges to continue to expand with a particular focus on options markets, including options on ETFs. Across products, traders will continue to...
Global Trading: According to a survey conducted by the Futures Industry Association and Crisil Coalition Greenwich, 30% of market participants believe that Brazil has the greatest growth potential for their firms over the next two years.
Traders: “Effectively, baskets containing even a single U.S. Treasury bond could pull all other transactions into clearing—something industry experts aren’t ready to contend with,” said Audrey Costabile, Senior Analyst for Crisil Coalition Greenwich...
Bloomberg: Critics argue offerings such as outsourced trading desks mean a money manager loses a first-hand understanding of market conditions. They could also lose direct trading relationships with other banks. “The buy-side’s doing more with less...
