The new offering combines LSEG’s pricing services with Yield Book analytics to create pricing information for around 2.9 million bonds with a 20 year look back period.

Regulatory reporting and risk management, security valuation and portfolio analysis, research, index strategy and historical simulations – among other analytics offerings – will be available via Snowflake as a delivery channel.

“The combination of Yield Book’s trusted, in-depth analytics and LSEG’s expertise in evaluated pricing delivers a robust and comprehensive suite of tools to empower clients,” said Emily Prince, group head of analytics at LSEG.

“These tools allow customers to back test portfolios, optimise strategies, and manage risk effectively. By offering this through Snowflake, we ensure seamless access to advanced analytics, enabling more efficient, scalable, and integrated solutions for our clients.”

The move builds on an existing partnership between LSEG and Snowflake. In September, LSEG launched a new cloud-based, ready-to-use enterprise data solution.

Named DataScope Warehouse, the new solution offers cloud-based access to LSEG’s fixed income and equity data records. The DataScope Warehouse will initially be delivered via Snowflake cloud infrastructure, with more cloud providers scheduled to be rolled out next year.

The post LSEG launches historical analytics for bonds via Snowflake appeared first on The TRADE.

Named DataScope Warehouse, the new solution offers cloud-based access to LSEG’s fixed income and equity data records.

The solution supports Structured Query Language (SQL), allowing users to explore and query the pricing and reference database.

Cloud collaboration is also facilitated by the solution, offering access to LSEG data via any cloud partner.

LSEG customers will benefit from immediate and total access via a direct share to the full database of record for fixed income, bank loans and legal entity data, as well as coverage of global equities, derivatives, and funds from more than 180 exchanges worldwide, said the exchange.

At launch, DataScope Warehouse will initially be delivered via Snowflake cloud infrastructure, with more cloud providers scheduled to be rolled out next year.

Read more: LSEG acquires Axoni post-trade technology

“Our customers are looking for flexible solutions that allow them to consume as much data as they need exactly when they need it. The launch of DataScope Warehouse will be key in enabling our customers to spend less time on data remediation and more on discovering insights and boosting productivity in their businesses,” said Kristin Hochstein, global head of pricing and reference services.

The post LSEG launches new cloud-based enterprise data solution appeared first on The TRADE.

Rohit Verma

The platform, aimed at the global FX market, combines the benefits of an NDF CLOB with clearing.

Rohit Verma, head of post-trade Asia Pacific at LSEG, said: “As a leader in the Asian NDF market and Singapore’s first LCH ForexClear member, we look forward to supporting their clearing activity on the platform.”

LSEG’s fully cleared non-deliverable forwards (NDF) matching platform went live in November 2023 following the initial announcement in May. 

The Singapore-based platform has the backing of the Monetary Authority of Singapore (MAS) and represented the first stage of LSEG re-platforming its FX venues to its core technology. 

Kelvin Ng, group head of global markets, at UOB, said: “Through this service, we are able to benefit from enhanced execution and access to cleared liquidity in addition to the operational efficiencies that LSEG’s end to-end-solution provides.”

The post UOB becomes first Singaporean bank to join LSEG NDF matching platform appeared first on The TRADE.

During his 20-year tenure, Hamilton held various senior roles within the firm’s sales organisation, focused on rates, currencies and emerging markets, repo, futures and options, and commodities. Jury has more than 25 years of trading experience, including having previously served as co-head of JP Morgan’s currencies and emerging markets business. Her key focus includes the electronification of the firm’s trading capabilities and the development of the digital agenda within sales.

The London Stock Exchange Group (LSEG) moved to expand its business development division under Richard Worrell with the appointment of a former Citi individual. Reesha Radia is set to join the exchange in April as a senior manager in business development and sales. She joins after most recently spending almost five years at Citi in execution sales-focused roles, most recently as assistant vice president. Prior to joining Citi, she undertook several summer and spring analyst internships at Morgan Stanley and JP Morgan.

ING named Cathryn Meddemmen managing director, global head of electronic fixed income sales and digitisation. Meddemmen was promoted to the role after most recently serving as ING’s global head of electronic fixed income sales for two and a half years. Before joining ING, she spent seven years at Crédit Agricole as director of fixed income e-sales. Elsewhere in her career, Maddemmen held senior positions at Bloomberg and Citi.

Bloomberg appointed Josh Dresner as a new fixed income specialist. Dresner was promoted to the role after initially joining Bloomberg as a financial products analyst in September last year.

The post People Moves Round Up: JP Morgan, LSEG, ING and more… appeared first on The TRADE.

Reesha Radia is set to join the exchange in April as a senior manager in business development and sales.

She joins after most recently spending almost five years at Citi in execution sales-focused roles, most recently as assistant vice president.

LSEG confirmed her appointment.

Prior to joining Citi, she undertook several summer and spring analyst internships at Morgan Stanley and JP Morgan.

Read more – Janus Henderson’s Richard Worrell departs for LSEG role to kickstart new stage of growth

She joins LSEG shortly after the arrival of its new head of secondary markets sales and business development in January.

Former head of EMEA equity trading at Janus Henderson, Richard Worrell, assumed the role at the start of the year, marking his move away from the buy-side after an extensive equity trading career.

The post LSEG expands business development division with former Citi execution sales specialist appeared first on The TRADE.

David Schwimmer

The data and analytics offering saw a 7.3% year-on-year increase, while capital markets saw a 6.1% rise year-on-year as compared to 2022.

However, post-trade saw a double digit increase of 17.4%, driven in large part by the acquisition-minded strategy of the exchange over the last few years.

David Schwimmer, chief executive of LSEG, asserted that 2023 had been a strong year for the business, with every target set out at the time of the Refinitiv acquisition having been met. 

He added: “In capital markets, we are collaborating more extensively with Tradeweb, creating new avenues for growth. We are also seeing an encouraging IPO pipeline for the London Stock Exchange. Our post-trade business is in the early phase of its next stage of growth, helping financial institutions manage risk and improve capital efficiency across the whole trading book.”

LSEG labelled 2023 an “outstanding” year for post-trade, having seen significant strategic progress. Key themes within the business unit were volatility, the migration of around 600,000 contracts in US dollars from LIBOR to SOFR, and regulation.

Specifically, securities and reporting revenue grew 7% to £254 million “as payments received relating to the early termination of the Euronext clearing agreement more than offset the in-year impact of lost cash equity clearing revenues and subdued equity market volumes”, while OTC derivatives revenue increased to £517 million, up 28.9%. 

LSEG highlighted the importance of integration following the 2022 acquisition of Quantile, and Acadia.

LSEG moved to expand its capabilities in multi-asset post-trade services with the acquisition of risk management provider, Acadia back in December 2022 as part of its strategy to enhance and grow its multi-asset post-trade offering for the uncleared derivatives space, as Daniel Maguire, group head of post-trade at LSEG, explained at the time.

The Quantile transaction, first announced in 2021, was set to help the derivatives offering run more smoothly.

“Combined with our existing SwapAgent business and ongoing organic investment, we are now positioned to help our customers optimise capital, standardise processes and reduce risk across the whole OTC trading book – cleared and uncleared – significantly expanding our addressable market,” said LSEG. 

In capital markets, the 6.1% increase was primarily driven by fixed income and derivatives. LSEG saw a growth of its market share, also spurred by acquisitions through Tradeweb, specifically that of Yieldbroker in the Australian market and algorithmic technology provider r8fin.

LSEG highlighted the importance of highlighted the acceleration of the Tradeweb collaboration, stating: “Tradeweb continues to drive the electronification of fixed income markets, and through constant innovation has successfully moved into new execution functionality, asset classes and geographies.”

Tradeweb completed its acquisition of algorithmic technology provider r8fin last month following the announcement of the deal back in November 2023.  

Elsewhere, revenue in LSEG’s FX and equities businesses declined, down 1.9% and 8.8% respectively.

In FX, this performance “reflected lower industry volumes in [our] market segments,” said the exchange, while equities was put down to “subdued market volatility fed through to lower Secondary Markets activity”. 

LSEG’s dealer-to-client platform, FXall, saw low activity from buyside participants, the report confirmed.

Read more: Fireside Friday with… LSEG’s Neill Penney and Bart Joris

LSEG is also continuing with the roll-out of Workspace within its trading and banking business – set to be largely complete by the end of this year. 

The integration of TORA – acquired back in 2022 – is set to move to the OpenFin platform in 2024 in order to facilitate easier integration with customers’ own platforms. Importantly, due to the success of this strategy, LSEG is set to cease support for the Workspace predecessor, Eikon, in 2025. 

The exchange’s results also highlighted various other recent acquisitions and their strategic importance – Acadia, Refinitiv, and LCH Group in particular.

LSEG acquired data and analytics giant, Refinitiv in a $27 billion blockbuster deal back in January 2021 following almost 18 months of deliberations. The transaction at the time was set to transform both the exchange and the wider market. The financial performance report credits the Refinitiv deal along with the increased ownership of LCH Group, as reinforcing its position in post-trade solutions.

The report also highlighted progress made following the 10-year strategic partnership between Microsoft and LSEG, launched back in December 2022 in a bid to develop innovative infrastructure solutions.

According to the exchange, there has also been good progress on the Microsoft partnership, with the first products expected in H1 2024. 

“We continue to build the foundations for sustained, profitable growth across all of our businesses. In Data & Analytics, customers will shortly be using the first products from our partnership with Microsoft: together, we will transform how financial markets participants communicate, research, analyse data and trade,” said Schwimmer.

Elsewhere, the exchange also shared its intention to execute up to £1 billion of buybacks in 2024, with the intention of acquiring this directly from the Blackstone/Thomson Reuters consortium.

Speaking to the future outlook for 2024 and beyond, Schwimmer explained “we look forward to further progress […] our model – global, multi-asset class, and operating across the entire trade lifecycle – is proven to thrive regardless of market conditions, and we will continue to invest to deliver the best possible services for our customers and returns for our shareholders.” 

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Speaking to The TRADE at the TradeTech FX European conference in September, heads of trading said they intended to focus their attention on understanding how to best develop and adopt algorithmic offerings tailored to these instruments.

It is therefore unsurprising that the electronification of NDFs is being discussed on the main stage at this year’s TradeTech FX US conference in Miami. Key questions around market depth, liquidity and initiatives launched by institutions and vendors to innovate in this space in light of new demand are set to be explored.

NDFs are cash settled short term forwards – the notional amount is never exchanged – earning itself the title of non-delivered. The instruments can require significant documentation and mediation from both parties involved and historically, they have been more of a side-line market in the wider foreign exchange sphere, making them less liquid and less transparent, and also making it far easier to move markets.

It is these workflow factors combined that have meant NDFs have been slower to automate and algorithmically trade when compared against other FX instruments. There is a limited number of participants eager to trade in size algorithmically when comparing NDFs to the spot markets for example. Instead, many institutions still opt to trade by voice.

Read more – LSEG Singapore NDF matching platform goes live

“The limited number of market participants that have significant transaction sizes hinders the widespread use of NDF algorithms,” APG Asset Management’s senior trader Sunil Patil tells The TRADE. “While algorithms can be effective for smaller sizes, the maximum benefits are typically realised with larger transaction volumes. Notably, this dynamic shifts for systematic-only funds, where considerations and advantages associated with NDF algorithms may differ.”

NDFs have, until recently, represented a relatively small segment of the FX markets. The buy-side has subsequently chosen to opt for reliable counterparty relationships to maintain presence and research in different regions and has resulted in a muted desire for electronification, until recently. However, in the advent of market developments, such as Mifid II research unbundling rules in Europe, a greater number of non-bank participants have begun entering this landscape.

“Recent trends highlight an increasing demand from asset managers, fast money, and quant funds, expediting the transition toward electronification in NDF markets,” says Patil. “As liquidity improves, standardisation increases, and more market participants express interest, the eventual mainstream adoption of algo usage in NDFs becomes increasingly likely.”

Circumstances over the last few years have incentivised increased interest in NDFs trading across the buy-side. And while algorithmic adoption is by no means mainstream, the pace of growth in this market has been steady and slow.

Where there are volumes, automation will surely follow. Throughout the course of 2022, several regulatory deadlines came into play – namely the final phase of Uncleared Margin Rules (UMR) and the Standardised Approach for Counterparty Credit Risk (SA-CCR) – which have pushed participants into the arms of NDF clearing in order to optimise balance sheets.

This shifting backdrop, paired with a general push for automation where possible – particularly to cut costs and boost performance on smaller orders – from the street has encouraged a wave of development across the sell-side as firms look to cater to new demand for NDF algo offerings.

In research published at the end of 2022, Worldwide Business Research (WBR) found that while only 8% of FX trading desks had already adopted NDF algo execution, an additional 27% said they were planning to implement them in the following six months. Nearly half of the respondents were also evaluating NDF algos with their counterparties, but said they had no immediate plans to adopt them, indicating potential for future growth.

Read more – CME Group to establish unified global NDF trading venue

Progress was slowed over the last few years due to market conditions. The volatility and rates backdrop seen throughout 2023 somewhat stunted the formerly projected growth in NDFs algos, MEAG’s senior trader Nicholas Nellis tells The TRADE. While firms such as MEAG use NDF algos already, and despite the number of institutions like them growing, banks have not yet seen the uptake of their new NDF algorithmic offerings that they had previously expected.

“For a while, a lot of people were trading NDFs to try and pick up carries, especially in the low rates environment,” says Nellis. “In this environment now, with more volatility and the ability to get decent returns elsewhere, people that are traditionally in those markets have probably stepped back. People are a lot more comfortable still trading voice on the NDF side.”

A key hurdle for the mainstream adoption of algorithms in NDF trading has historically been the lack of opportunity for traders to interact with liquidity on an order book – hindering market depth and transparency. Previously, there were few platforms dedicated to the trading of NDFs. But in recent months, market headlines have been littered with a string of announcements as platform providers and venues announce new ventures, which Nellis confirms has improved algo performance.

“There isn’t that much liquidity so trying to trade it electronically over a platform is not as easy. You can move markets quite quickly. In that space, spreads tend to be a lot wider when you trade electronically for some of these markets,” he explains. “But we’ve seen more players come into the electronic/ECN market. They’re trying to provide more liquidity. There’s been a change in algo performance at least with these additional venues in place. It just takes time.”

CME Group was the latest firm to make such an announcement, confirming in December last year that it had established a global unified NDF trading network. The trading venue is set to combine its two non-deliverable forward (NDF) liquidity pools on the EBS Market platform onto a single trading venue in October, subject to regulatory approval.

The move will bring market participants across regulatory jurisdictions into a unified global trading environment, which CME Group claims will enhance market efficiency and improve EBS’ role as a source of centralised liquidity and price discovery in NDFs.

“Amid continued fragmentation and rising complexity within the global FX market, the need for a unified, globally accessible primary trading venue in NDFs is greater than ever,” said Paul Houston, global head of FX products at CME Group, at the time of the announcement.

“Combining our two leading NDF trading platforms will improve access for participants around the world while expanding liquidity, improving price discovery and providing operational efficiencies for the marketplace.”

Earlier in 2023, Trading Technologies confirmed it was also due to set up a new foreign exchange unit in early 2024, with plans to extend its offering to include liquidity from major banks, alongside the expansion of the product set to include forwards, NDFs and swaps.

Asia focus

Central to the recent growth and evolution seen in the NDF markets is Asia. Many of the new initiatives announced of late have a link to the Asian markets – home to a huge chunk of the world’s global foreign exchange activity. The Asia NDF markets trade throughout the day, making them a useful way to access these markets outside of market hours in other regions, while an overlap with European trading hours makes them appealing to institutions attempting to facilitate transactions across time zones.

Asian markets were early adopters of electronic trading platforms for NDFs in comparison with other markets and the continent now contains some of the most traded NDF currencies in the world, namely in Korea, Taiwan, Singapore, India, and Indonesia, making it a popular destination for those looking to set up new ventures.

Singapore in particular has made a huge push into positioning itself as trading hub across several asset classes – in particular global FX – by creating a favourable regulatory environment for new platforms coming to market. The Singapore Exchange (SGX) acquired a 20% stake in institutional FX trading platform BidFX in 2019, going on to acquire the remaining 80% stake in the company from TradingScreen for $128 million in 2020.

Many of the recent new launches have subsequently been centred in the region. Among the recent initiatives is a new NDF matching platform based in Singapore, launched by the London Stock Exchange Group (LSEG) in November 2023. Based in Singapore, and with the backing of the Monetary Authority of Singapore (MAS), the platform is the first phase of LSEG’s plans to implement NDF, spot matching and streaming relationship venues in Asia.

“NDFs are a growing part of the FX market, with limited customer options when it comes to execution on an order book,” LSEG’s head of foreign exchange, Neill Penny, told The TRADE.

“As such, there has been clear interest from customers for us to support NDFs as part of matching. There is also a lot of interest from customers in the cleared execution part of the venue which should result in improved liquidity, more efficient use of credit, and reduced administrative overheads.”

In the same month, LMAX Group subsidiary, LMAX Exchange Singapore, was granted regulatory approval by the Monetary Authority of Singapore (MAS) to offer NDF trading in both Singapore and London. LMAX said the launch would allow its clients to hedge their FX exposure against non-convertible currencies on a central limit order book (CLOB) and that it would leave to more transparent price discovery, deeper liquidity and efficient market structure in NDFs trading.

With new players entering the market and new platforms launching each quarter, greater liquidity in the NDFs sphere is almost certainly set to spark greater algorithmic trading capabilities for those looking to execute more efficiently. Gaps still exist, namely around broken dates and how to aggregate NDF liquidity into one system, and as FX algo providers look to attract further adoption of their NDF strategies, they will need to offer increasingly sophisticated data analytics, algo execution and liquidity management tools to mitigate this.

“The primary approach for engaging with NDF algorithms currently involves initiating trades on a one-month or IMM date basis and subsequently rolling positions to align with preferred non-standard maturity dates. However, this method presents challenges in estimating the all-in price ex-ante, as opting for a more favourable spot rate may result in less favourable forward points, influenced by market makers’ positioning,” says Patil.

“We still opt for NDF algorithms in markets where liquidity supports larger trades. Currently for us, the overall percentage of NDF volume traded via algorithms remains relatively low, given the decent OTC liquidity with sharper spreads, making it the preferred method for the majority of NDF trading. However, I anticipate a shift in this scenario as more participants enter the market, leading to the evolution of NDF trading practices.”

With infrastructure building out globally to accommodate new interest in NDFs, greater appetite for more automation must surely follow. A lack of transparency historically has hindered NDF algorithmic progress, but with the prospect of order book trading on multiple new competing venues on the horizon, that could all be about to change.

“What you will also see – and you can see this with NDFs – is that less liquid products are going to become more transparent, and the more transparent they are the more trading you get. The more trading you have, the more automation you can drive into it,” says LSEG’s head of FX sell-side trading, Bart Joris.

The post NDFs trading: If you build platforms, the algos will follow appeared first on The TRADE.

Former LSEG’s Scott Bradley has been appointed chief executive officer of OneChronos’ London office, effective immediately. Alongside him, former SIX’s Adam Sherlock has been appointed chief executive of the European office and head of the firm’s new European Amsterdam based MTF, effective from 1 April.

The pair will lead the ATS’ push into Europe, co-heading its European Franchise.

Scott Bradley

OneChronos is a smart market, aiming to use mathematical optimisation to match counterparties for institutional investors. It claims to address “the gap between how trading venues match orders and how traders need to execute.”

Bradley left LSEG in November 2022, becoming the latest senior departure to leave the firm as part of a wider simplification of the firm’s leadership across asset classes, as reported by The TRADE.

He had been with the exchange group for nearly six years, joining as its head of sales, marketing and global business development, for its cash secondary markets and Turquoise in 2017.

He took on his most recent role as head of sales and platform distribution for securities trading at LSEG in May 2021.

Read more – Scott Bradley latest senior departure in LSEG re-structure

Adam Sherlock

Prior to joining LSEG, Bradley served in several senior roles at Instinet including as head of EMS and analytics sales for EMEA. He also previously spent 11 and a half years serving in electronic, algorithmic and program trading and sales trading focused roles at ITG, Goldman Sachs, Bear Stearns & Company, JP Morgan and Nomura.

Bradley’s exit followed the departure of Dr. Robert Barnes, chief executive officer at Turquoise, which was also announced in the same month. He left LSEG at the end of 2022 after nine years with the exchange group.

Sherlock had served with SIX for over five years, initially spending two and a half years at the exchange from 2016 to 2018 in an equity sales role before a two and a half year stint at LSEG in a business development role. He re-joined SIX in his most recent European equity sales role in 2021. 

Previously in his career, he spent two years at SimCorp in a business development role.

The post Former LSEG and SIX senior individuals join US equities platform OneChronos as part of European expansion appeared first on The TRADE.

At number ten was a story broken by The TRADE in September, news that Cowen’s prime brokerage and outsourced trading business had been acquired by Marex just six months after TD completed its purchase of the business.

This came amidst a near-constant stream of mergers and acquisitions across both the sell- and buy-side this calendar year. Demonstrably, more and more, companies are looking to ‘fill the gaps’ in their offerings, not by growing but by incorporating those who are already primed.

The acquisition was completed earlier this month, with operations acquired set to be rebranded as Marex Prime Services and Market Outsourced Trading, with both becoming part of the Marex Capital Markets business (formed last year following the acquisition of ED&F Man Capital Markets). Following the acquisition, the business will continue to be led by Jack Seibald and Michael Rosen.

Speaking in an announcement Ian Lowitt, chief executive of Marex, said: “Mike and Jack have built a terrific business, and its addition to Marex broadens the range of essential infrastructure we provide to clients, as well as creating opportunity for Marex to provide additional services to a new set of clients. Expanding our capital markets business also adds to our diversification and to the resilience of our franchise.”

The acquisition followed an announcement in June from TD Bank Group and Cowen that the prime brokerage and outsourced trading businesses were parting ways just months after the deal was completed, seeking a more ‘strategically and geographically aligned’ partner.

TD Bank Group completed its all-cash $1.3 billion acquisition of Cowen in March – following an initial announcement in August 2022. The plan was to create an integrated North American dealer to significantly advance its growth strategy in the region, specifically through the addition of Cowen’s US equities sales trading, execution, and research offering. 

TD will continue to operate its own prime services business despite the Cowen spin-off

9. Ninety One shakes up trading leadership with new global deputy and lead for South Africa

The TRADE is renowned for its coverage of people moves, with one of the most read this year being the news that asset manager Ninety One had promoted from within for its new deputy global head of trading and head of trading for South Africa.

The TRADE revealed that former head of trading for South Africa at Ninety One, Doug Blatch, had been selected to support global head of trading at Ninety One, Cathy Gibson, as deputy, taking up the role after 26 years at the business.

Yanela Songca

Chosen to replace him in his regional role was Yanela Songca who has been appointed to take up the trading reins in South Africa after serving as a senior trader at Ninety One for nearly nine years. Songca’s appointment comes after nine years with Ninety One, originally joining the asset manager in 2015. He will report to Blatch.

Gibson told The TRADE: “The enhancement of his [Blatch’s] role is reflective of his contribution to the global book of business.

“[…] Throughout his career, Yanela has garnered cross asset-capabilities, having commenced his career on the equity desk before transitioning to the fixed income desk, this is no small achievement given the structural differences between the asset types. I would congratulate both Yanela and Doug.”

8. LSEG outage suspends trading on AIM stocks

At number eight came the attention-grabbing news from October that the London Stock Exchange (LSE) had experienced an outage which left just FTSE 100, FTSE 250 and IOB securities still available for trading.

LSE, who at the time of the story’s publication was still investigating the fault, explained that AIM stocks specifically were currently halted, with the exchange confirming that “orders in all other instruments currently halted will now be expired”.

More recently, this month, LSEG experienced another such outage, its second on AIM stocks in less than two months.

The outages are likely to spur on ongoing analysis by regulators globally over the stability and resilience of exchanges and procedures during market outages – specifically as regards their communications.

In May, ESMA published its opinion on how trading venues should manage their operations and communication in the event of a market outage, with the comments following a consultation which the regulator launched in September 2022. ESMA reiterated that prior to an outage, venues should have a clear outage plan in place to be deployed should such an event occur.

In addition, earlier this year the UK’s Financial Conduct Authority (FCA) set out plans to create a taskforce to work on “good practices” in relation to conduct during an outage, as part of a secondary markets overhaul – announced in May.

During the second outage, LSE confirmed in a member notice at 9:23 on the morning of 5 December that it was investigating an issue impacting its trading system and that it was “undertaking immediate analysis”. Trading on all instruments other than FTSE 100, FTSE 250 and IOB securities was halted until 9:55 am when the exchange confirmed that it was set to resume trading at 10:15 am.

“Instruments will go into auction at 09:55 with uncrossing beginning at 10:15. All live orders remain on the system,” said the exchange in an update. However, following the opening of trading once again with said auction the problem reoccurred. In an update at 11:56 am, the exchange confirmed the issue was ongoing and that it was continuing to investigate. Trading resumed at 12:43 pm UK time.

The market has become increasingly concerned about the flurry of outages seen across the market. In June, SIX Swiss Exchange experienced its worst outage for over 10 years, halting trading for three hours, and other previous outages include Nasdaq’s Nordic markets which closed on 16 November 2022 without an auction, while marketplaces of the European exchange operator, Euronext, also suffered a three-hour interruption to trading on 19 October 2020.

Deutsche Börse also experienced two separate outages during 2020 due to software glitches. The issue is also one present outside of the EU, with a software issue coinciding with the launch date for the upgraded ASX Trade system, provided by Nasdaq, which forced the ASX to shut down for four hours on 16 November.

The post The TRADE’s most read stories of the year part one: Major acquisitions, senior appointments and exchange outages appeared first on The TRADE.

The collaboration is set to support regulated FX flows and enhance FlexFX’s capabilities as part of FlexTrade’s buy-side multi-asset trading platform. 

Specifically, FlexTRADER EMS clients will be provided seamless access to LSEG’s electronic trading platform for global currency products, FXall.

Jill Sigelbaum, head of strategic development and partnerships, FX at LSEG, said: “Our priority at LSEG is to understand our clients’ FX needs and meet them where they want to trade. By combining FlexTrade’s customisable interface with FXall’s world-class, regulated liquidity pools, the offering provides the strongest end-to-end solution in the market today.”

The partnership provides new mutual clients access to FXall execution services from within the FlexFX EMS.

According to the businesses, the highly customisable FlexFX front end will allow clients trading FX to access FXall’s extensive global liquidity network, including support for: spots, forwards, swaps, NDFs and options.

In addition, FXall’s liquidity can be combined with FlexTrade’s liquidity and automation capabilities to streamline low-touch FX orders.

FXall delivers access to liquidity from over 200 market makers, including bank and non-bank. The offering delivers ‘dealer to client’ trading and FX workflow solutions and is licensed globally.

Both FlexTrade and LSEG will continue to offer independent FX solutions via FlexFX EMS and FXall respectively while also offering the option of an integrated solution to new mutual clients.

“Our collaboration with FXall demonstrates our commitment to delivering a comprehensive FX solution, supporting regulated FX flows and providing access to global liquidity. Through a seamless integration of FlexFX with FXall, trading teams can have a single interface and technology approach to FX execution,” said Uday Chebrolu, senior vice president and head of FlexFX at FlexTrade. 

“Moreover, the integration of FlexFX into the FlexTRADER EMS will continue to deliver zero-compromise, market-leading capabilities to our multi-asset clients.”

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