eFinancial Careers: With the first full month of 2019 nearly in the books, banks are seeing renewed optimism in fixed income markets, according to a new report from Greenwich Associates.
Market Media: McPartland wrote: “Technology is increasing the flow of information, removing the language hurdle and connecting disparate brokers and investors from all over the world..."
The Trade News: “The decrease in rates, coupled with a global shift from high-touch to electronic trading, lowered weighted all-in blended rates across markets,” said Will Llamas.
Reuters: The MiFID II directive, introduced one year ago, has brought trading costs under closer scrutiny, and many asset managers have negotiated lower commission rates, Greenwich Associates said.
Nasdaq: That is less than 10% of the average algorithm commission of 0.9 cents per share reported by Greenwich Associates.
The Desk: European bond market structure is likely to diverge further from the US, as a result of the different investment models which are popular in the region, according to Greenwich Associates.
Curatia: A recent Greenwich Associates report found that 26% of corporate bond trading in the US happened electronically in Q3 — an increase of seven percentage points in a six-month span.
Bloomberg: In Europe, the impact has been clear, with brokers’ earnings from equity research falling an estimated 20 percent, or $300 million, according to Greenwich Associates.
eFinancial Careers: As Greenwich Associates data shows, electronic trading among European buy-side fixed income traders has taken off in the past year. “Algos are definitely becoming a bigger part of fixed-income trading…"
Market Media: Richard Johnson said that periodic auctions are considered to be lit trades under MiFID II as the indicative matched size is published prior to execution, but there is limited transparency...
