In The News

CBA and Wells Fargo, which is based in San Francisco, aren’t the only banks actively experimenting in this area. Globally, Greenwich Associates estimated that the annual budget for blockchain initiatives hit $1 billion this year.

Amid dozens of experiments by banks and other players, this is among the first commercial products to result from an outpouring of investment into blockchain, which some technology analysts have warned will fail to live up to the hype generated by...

"The more information regulators have about the market's functioning, participants and asset prices the better. Furthermore, we don't believe additional transparency to regulators will have any impact on liquidity," said Kevin McPartland, head of...

“The fact that this shortcut is out there does negate to a certain extent IEX’s whole model,” said Richard Johnson, vice president for market structure and technology at Greenwich Associates.

This segment is dominated by five banks that control 60 percent of volume, up from 44 percent a decade ago, according to consulting firm Greenwich Associates, which didn’t name the firms.

On the main venues that cater to dealers, 8 of the 10 biggest firms by volume last year were non-bank proprietary trading firms, according to Greenwich Associates. Their influence has led HFT critics to blame computerized traders for providing “...

“All the firms that started up in garages with algorithms and made a lot of money with proprietary strategies have started looking at other businesses they can get into,” says Kevin McPartland, head of market structure research at Greenwich...

Bloomberg Markets AM with Pimm Fox and Lisa Abramowicz.  GUEST: Kevin McPartland, Principal at Greenwich Associates, on bond-trading gains and whether they can last.

“The parts of the banks’ trading business that have become less profitable since the financial crisis is where the principal trading firms are stepping in,” said McPartland, head of research for market structure and technology at Greenwich...

“Market data has become a huge business for exchanges — as well as a huge cost for the end investor,” Mr. McPartland said. “The fewer the exchange owners, the fewer the sources of data from one company.”