Our privacy policy describes how Fidessa uses cookies on our website. If you continue using our website, you are consenting to our use of cookies. OK

Be careful what you wish for

Those of us who remember the good old days will recall the industry debate as to how much dark liquidity was really in existence. In one corner were the exchanges who, through FESE, claimed that the amount of malevolent dark trading going on was unacceptably high. In response the brokers claimed through their trade body, AFME, that actually it was pretty low. And, as we all know,... Read More

Thomas in Blockland

Thomas the crossing network wasn’t happy. For years he had enjoyed helping his friends buy and sell things amongst themselves. Sometimes he would even step in directly and agree to buy or sell something himself, especially if there was an awful lot of it. But now he had a tricky choice to make. The ruler of the land, The Regulator, had been convinced by the Exchanges that... Read More

Anyone for MiFID 3?

I was chatting with the Reg folks here at Fidessa Towers yesterday and the spectre of MiFID 3 came up. Before you all jump off the window ledge there is no official notion of this yet, but when will the regulators feel that their work really is done? The direction of travel has been clear for a while – dismantle the current industry and replace it with something that is utilitarian,... Read More

Mexico blues

Back from a couple of weeks in Mexico where it seemed the whole world was going steadily insane (or maybe that was just the tequila). Anyways, it was reassuring to start the week with another “wow is that what they really meant?” moment whilst gorging on the never-ending box set known as MiFID 2. This time it’s about the obligations on brokers to report annually their... Read More

Bumpy road ahead?

Interesting story in the FT today about IEX and its application to become a fully-fledged exchange. At issue is IEX’s so-called ’speed bump’ that will slow down the HFT ‘boy racers’ and so make markets safer again. Naysayers claim that the inclusion of a speed bump is contrary to the rule that investors should have “immediate” access to the... Read More

Apple shows the way for trading systems

Interesting to read that Apple is reportedly deciding when, not if, to cancel music downloads from iTunes.  The idea, of course, is to move everyone over to its Apple Music streaming service.  This got me thinking about the whole “access to” versus “ownership of” debate and how it applies to our industry.  As a committed audiophile, the Apple story filled me with horror... Read More

One million Fragulators can’t be wrong

I don’t often write about fragmentation these days, but I noticed this morning that our frag counter surpassed the 1 million mark. To be honest I was planning to write something later in the week, but thanks to a certain university in Italy that slurped its way through 15,000 fragulations at the weekend, I am a bit off the pace. I have to admit that when we first launched the... Read More

Germany and the UK show the way

The pixels were barely dry on my last blog post on the regulatory impact of a potential Brexit on the City of London, when news broke that LSE Group was in talks with Deutsche Börse over a “merger of equals”. The LSE has done a great job under Xavier’s stewardship of positioning itself for the practical realities of the industry today, which are all predicated on the premise... Read More

Can’t see the wood for the regulatory trees?

When you are immersed in an industry it’s sometimes difficult to see how it’s really changing. Global financial markets are a good example of this as the populist headlines can easily miss the subtlety of what is really going on. The polemic against misbehaviour by some market participants is obviously deserved (estimates of the total in fines and related costs are approaching... Read More

Symphony strikes a chord

I have been following the Symphony story with interest and the recent news that Google’s parent company, Alphabet, is looking to invest certainly got my attention. Is this the sound of the mighty Google taking its first lumbering steps into the world of capital markets, or just another of the many investments that Google makes? More importantly, what does this do to help Symphony?... Read More

Copyright © 2017 Fidessa group plc. All rights reserved.

The information contained within this website is provided for informational purposes only. Fidessa will use reasonable care to ensure that information is accurate at the time it is made available, and for the duration that it remains on the site. The information may be changed by Fidessa at any time without notice. We also reserve the right to close the website at any time. No representation or warranty, expressed or implied, is given on behalf of Fidessa or any of its respective directors, employees, agents, or advisers as to the accuracy or completeness of the information or opinions contained herein or its suitability for any purpose and, save in the case of fraud, all liability for direct, indirect, special, consequential or other loss or damages of whatever kind that may arise from use of the website is hereby excluded to the fullest extent permitted by law. Any decisions you make based on the information in this website are your sole responsibility and information on the website should not be relied upon in connection with any investment decision.

The copyright of this website belongs to Fidessa. All other intellectual property rights are reserved.

Fragulator® is a registered trademark of Fidessa group plc.

Reproduction or redistribution of this information is prohibited except with written permission from Fidessa.