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Jan 16, 2025 | 
fi-desk.com | Etienne Mercuriali
Read more: https://www.fi-desk.com/is-european-credit-electronification-bouncing-back/The study, which polled over 100 institutional clients in the third quarter of 2024, reveals that in rates markets, 70 per cent of clients now execute a majority of their trades electronically. Barclays Research estimates the ceiling for electronic execution at approximately 80 per cent of market volumes, with the remainder likely to stay voice-traded due to size or complexity.
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Jan 15, 2025 | 
globaltrading.net | Etienne Mercuriali
Clearwater’s acquisition marks further consolidation in the financial technology sector as asset managers increasingly demand integrated cloud-based solutions. In Europe, 2023 had seen the merger of Axioma and Simcorp in 2023 as part of Deutsche Börse revamped Horizon 2026 strategy for its Investment Management Solutions.
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Jan 14, 2025 | 
globaltrading.net | Etienne Mercuriali
Robinhood Securities LLC and Robinhood Financial LLC, agreed to pay a combined US$45 million in penalties following regulatory violations, according to the SEC. The charges stem from extensive failures across multiple regulatory domains, including inadequate reporting, cybersecurity vulnerabilities, and mishandling of customer information.
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Jan 13, 2025 | 
fi-desk.com | Etienne Mercuriali
The SEC found that from December 2020 until May 2023, BMO representatives structured and sold approximately US$3 billion of agency collateralised mortgage obligation Bonds using misleading offering sheets and bond metrics that did not accurately represent the underlying mortgage collateral characteristics. The settlement comes as the commercial mortgage-backed securities (CMBS) market faces significant headwinds, with the Trepp CMBS delinquency rate climbing to 6.57% in December 2024.
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Jan 13, 2025 | 
globaltrading.net | Etienne Mercuriali
The settlement, announced on January 10, marks the second major enforcement action against Liquidnet in a decade, following a US$2 million penalty in 2014 for similar violations regarding the handling of confidential subscriber data. TP ICAP had reported continued strong revenue growth at Liquidnet with revenue up 26% in the third quarter of 2024.
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Jan 10, 2025 | 
fi-desk.com | Etienne Mercuriali
Tradeweb is within US$150 million ADV to lead electronic tradingTradeweb reported fully electronic US credit Average Daily Volume (ADV) of $6.9 billion, reflecting robust year-on-year growth of 24.5%. The platform captured a record 19.9% share of fully electronic US investment-grade (IG) TRACE, driven by reported adoption of request-for-quote (RFQ), portfolio trading, and the Tradeweb AllTrade platform.US high yield electronic trading gained 47.7% year-on-year to US$ 760 million.
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Jan 9, 2025 | 
fi-desk.com | Dan Barnes |Etienne Mercuriali
By Dan Barnes and Etienne MercurialiGilts market opening on the morning of 9 January suggested some traders took a big hit, with stop losses executed on open, as the market dropped down to 89.02, or 40 basis points in the first few minutes of trading, before recovering more in line with European counterparts. The activity occurred as the UK government saw borrowing costs spike, while other governments saw costs rise to a lesser degree.
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Jan 9, 2025 | 
globaltrading.net | Etienne Mercuriali
Secondary offerings were up 26% in 2024 over 2023 according to LSEG data, correlating with an overall strong market for stocks and the need for issuers to raise further equity. Top US issuers included Boeing, which raised $18 billion in a rights issue in October, and Micro Strategy, which issued $15 billion in equity the same month “to buy more bitcoin”, according to a filing by the company. Saudi Arabia’s Aramco raised $11.2 billion in a secondary offering in May.
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Jan 9, 2025 | 
globaltrading.net | Etienne Mercuriali
The IPO landscape reflects broader shifts in global capital markets, with European financial centres increasingly sharing the spotlight with emerging market venues, particularly India and the Middle East this year. Nasdaq was the year’s leading venue across its various platforms, in front of India’s National Stock Exchange, with the New York Stock Exchange and Hong Kong Exchange following behind.
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Jan 7, 2025 | 
fi-desk.com | Etienne Mercuriali
Behnam, who will leave his position on January 20 with his final day at the commission set for February 7, led the CFTC during a period that saw landmark enforcement actions, including a $4.3bn settlement with crypto exchange Binance as well as climate risk focus with the establishment of the Climate-Related Market Risk Subcommittee.
