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A healthy derivatives market is an important element to Japan’s plan to become a global leader in asset management.
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The U.S. Treasury market capped off its summer with the lowest average monthly volatility reading since December 2021 and a decline of 27% from last August—a sign that the previous cycle is truly coming to an end.
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The credit market’s road to year-end started off with a bang. New issuance hit its highest level since May 2020, which supported an average daily notional volume (ADNV) in the secondary market of $56 billion per day, up 4% year over year.
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Declining commissions, rising costs and intense competition have taken a toll on electronic equities trading desks on the sell side, resulting in understaffing, incompatible trading technology and stringent compliance demands.
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Nonbank liquidity providers (NBLPs) have been active in the foreign-exchange market for at least two decades. Access to credit via the prime brokerage model in the 2000s allowed NBLPs to begin trading spot FX on EBS (Electronic Broking Services) and...

Market data in the age of AI

Greenwich Report
September 2025 By: David Easthope, CFA
Crisil Coalition Greenwich, in partnership with SIX for the third consecutive year, conducted an in-depth study of 50 global buy-side firms to uncover the latest trends and innovations in market data consumption, distribution and technology adoption...
The derivatives market is vital to the financial system. It allows market participants to manage and hedge risks, generate alpha and, more generally, helps them achieve their goals.
The U.S. Treasury market capped off its summer with the lowest average monthly volatility reading since December 2021 and a decline of 27% from last August—a sign that the previous cycle is truly coming to an end.

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