News
(Markets Media)
Direct, continuous pricing streams are slowly but surely reshaping how U.S. Treasuries are traded. The majority of the U.S. Treasury market is traded electronically. In 2023, 64% of the $755 billion average daily notional volume (ADNV) was executed via a combination of central limit order books (CLOB), request for quote (RFQ) and direct, continuous pricing streams.
(Global Trading)
While rules might not create markets, there is a very important role for regulation to play in creating a fair, open and competitive playing field in a fragmented region such as the European Union (EU).” This missive encapsulated the approach to regulatory divergence held by Virginie Saade, head of government and regulatory policy at Citadel. “Rules are a way to make sure that there is a common approach across the 27 countries.”
(The Desk)
Bloomberg has executed the first electronic list trade in European government bonds though its multilateral trading facility (MTF), with its evaluated pricing service (BVAL) referenced for the closing price.
(The Full FX)
Hedge fund capital extended 2023 gains by continuing to grow in Q1 2024, according to the latest report from indexation and analysis firm HFR. The report says total capital increased to what it calls a “milestone” $4.3 trillion thanks to strong performance and investor inflows. HFR says managers are navigating “a complex environment on improving economic outlook and acceleration of M&A concurrent with unprecedented geopolitical risks, including ongoing and potential military conflicts as well as inflation, interest rate and macroeconomic uncertainty”.
(efinancial careers)
Deutsche Bank has hired a new head of US credit trading to replace Dan Crowley, who left in February. Edward Bayliss, the head of corporate credit for North America at Morgan Stanley is understood to be joining Deutsche’s New York office as Crowley’s replacement.
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(Financial Times)
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(The Bond Buyer)
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(New York Times)($)
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