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The Realization Group wrote a new blog post titled All on the Same Page? Effective Strategies for Successful Innovation in Capital Markets
Innovation within the capital markets sector remains one of the key factors in ensuring its continued resilience, ability to adapt to change and even its future growth. The G20 noted the importance of promoting entrepreneurship and innovation across countries within its ‘Core Values for Sustainable Economic Activity’, which it created in response to the 2008 financial crisis. Yet nearly a decade later, firms in the investment banking and asset management space still noticeably struggled to make the necessary changes to their existing systems in time for MiFID II, with many back...
71 days ago,(2018/11/12)
The Realization Group wrote a new blog post titled The Value in Being Heard
Introduction Artificial intelligence (AI) and robotic process automation (RPA) have the potential to significantly increase the efficiency of financial services organisations. Both use large data sets, which their algorithms and machine learning capabilities can process to aid decision-making. Additionally, the compliance requirements of securities regulation require more and more data to be captured across multiple disparate communications channels. What is the link between the two? How can new approaches to data capture, correlation, analysis and process automation turn tick-box...
82 days ago,(2018/11/01)
The Realization Group wrote a new blog post titled Roundtable report: Practical steps for successful innovation within Capital Markets
Roundtable discussion hosted by The Realization Group, led by Ascendant Strategy, TreoTrade and Nomura on 3 October, 2018 The importance of creating a culture of innovation has long been recognised in the capital markets industry, but why this can prove hard to achieve continues to be a matter of some debate. The reasons given for these difficulties can also be complex and seemingly insurmountable, from long procurement cycles through to lack of diversity within larger organisations – and everything inbetween. Yet instead of focusing only on the hurdles, it may now be time to embark on...
88 days ago,(2018/10/26)
The Realization Group wrote a new blog post titled Capture, Correlate, Analyse: Deriving value from electronic communications data
In our latest Financial Markets Insights report, Dan Barnes and Mike O’Hara of The Realization Group explore the value that can be realised through the integration of electronic communications (eComms) data into the wider trading ecosystem. By moving from tactical compliance to strategic investment, firms can not only satisfy the regulators, but also boost the analytical capabilities of the front office; delivering better execution, greater trading signal analysis and more efficient business intelligence. In this report, Simon Hornibrook of Nomura; Paul Burleton of Lysis Financial;...
96 days ago,(2018/10/18)
The Realization Group wrote a new blog post titled Navigating low-latency trading technology in India
India has taken a big step forward in widening its low-latency trading community. The Securities and Exchange Board of India (SEBI) in March announced regulatory changes designed to let more firms trade via shared managed colocation services. The move, SEBI said, would benefit small- and medium-sized firms that may have been prohibited from such trading previously due to costs and lack of expertise. Ahead of the 2018 FIX India Conference, The Realization Group spoke to some of the  panellists of the morning session ‘Taking a Closer Look at Low Latency Trading – Technical...
144 days ago,(2018/08/30)
The Realization Group wrote a new blog post titled Roundtable Report: Systematic Internalisers: Challenges and Opportunities in the MiFID II era
Discussion hosted by The Realization Group, led by Vela, Aquis Exchange and Hudson River Trading, on May 23, 2018 MiFID II is intended to deliver better outcomes for end-investors across Europe, by increasing transparency, consumer protection and competition, while reducing cost, risk and conflicts of interest. To achieve these aims, the new directive introduces some major reforms to Europe’s equity markets: common transparency and reporting rules; tougher best execution requirements; and a limit on trades that don’t contribute to price discovery. At six months in, it’s too...
208 days ago,(2018/06/27)
The Realization Group wrote a new blog post titled Driving the institutional Cryptocurrency market
Two key trends have come to the fore in the global currency markets, particularly in the last 12 to 18 months, with both potentially resulting in sweeping changes to how, where and even why FX is traded. The second of these shifts, namely the growth of cryptocurrency, was explored in greater depth by a panel of FX industry professional held in May at The London Stock Exchange – hosted by The Realization Group and sponsored by BSO. The Realization Group’s Mike O’Hara began the second part of the panel discussion by noting that most activity in the cryptocurrency space has...
231 days ago,(2018/06/04)
The Realization Group wrote a new blog post titled The Future of FX: Seizing the Asian opportunity
Two key trends have come to the fore in the global currency markets, particularly in the last 12 to 18 months, with both potentially resulting in sweeping changes to how, where and even why FX is traded. The first of these shifts, namely the growth of FX trading in Asia, was explored in greater depth by a panel of FX industry professionals held in May at The London Stock Exchange – hosted by The Realization Group and sponsored by BSO. Facilitated by The Realization Group’s Mike O’Hara, the event began by discussing which new centres in Asia offer the greatest potential...
231 days ago,(2018/06/04)
The Realization Group wrote a new blog post titled Changing landscapes: Electronic trading picks up the pace in commodity markets
While electronic trading, technology and related infrastructures are now a well-established, if not essential, part of highly-liquid markets such as equities or spot FX, the rate of adoption has been markedly slower in the commodities space. But the past year in particular has seen a notable upturn in demand for electronic trading, from both newer entrants as well as more established venues. Nicola Tavendale and Mike O’Hara of The Realization Group talk to Ollie Cadman of Vela, Jamie Turner of the London Metal Exchange, Andrew Polydor and David Perkins of TP ICAP, Fraser Bell of BSO and...
236 days ago,(2018/05/31)
The Realization Group wrote a new blog post titled HPC strategies for financial services: The playing field widens
Produced by The Realization Group in association with Verne Global Introduction The financial marketplace today is dominated by growing regulatory requirements, constantly changing liquidity conditions and increasingly complex asset-class strategies by firms across the spectrum. In such an environment, it’s no longer only top-tier banks that need vast amounts of high performance computing (HPC) capabilities to handle the huge number of calculations needed for risk management, trade idea generation, compliance or a host of other functions that sell-side and buy-side organisations carry...
238 days ago,(2018/05/29)
The Realization Group wrote a new blog post titled Bridging the Gap: New Approaches to Creating a Culture of Innovation
In the last four years, investment banks have been significantly underspending on innovation. According to data compiled by the Boston Consulting Group (BCG)1, change-the-bank (CTB) spend is almost flat at a rate of around one percent and only a small proportion of that spend is on true innovation, with as much as 80% focused on legacy system upgrades. At the same time, demand for cutting-edge technologies and agile systems has never been greater, with financial organisations increasingly recognising the need for innovation to become an ingrained part of their...
243 days ago,(2018/05/24)
The Realization Group wrote a new blog post titled Systematic Internalisers – Data holds key to challenges and opportunities in MiFID II era
MiFID II broadens the scope of the systematic internaliser (SI) regime, not only to cover more asset classes, but also to apply more stringent rules, with the aim of improving pre-trade transparency and improving price efficiency and client executions. To examine the far-reaching consequences and practical implications for liquidity seekers and providers, against a backdrop of tougher Best Execution requirements, Chris Hall and Mike O’Hara of The Realization Group talk to Ollie Cadman of Vela, Citi’s James Baugh, Sun Trading’s Jamal Tarazi (Sun...
262 days ago,(2018/05/04)
The Realization Group wrote a new blog post titled Taking the Leap into Asia and Cryptocurrencies: The Future for FX Trading?
As the world’s largest financial market, the ability to swiftly identify and capitalize on key trends in foreign exchange is crucial – which is why the BIS Triennial Central Bank Survey of global FX trading is one of the most significant datasets currently produced for the capital markets. The latest report, published in September 2016, underscored a particularly noteworthy shift for many participants in this space, namely the increase in market share for Asia’s three key FX trading hubs – Tokyo, Hong Kong and Singapore – from 15% to...
287 days ago,(2018/04/09)
The Realization Group wrote a new blog post titled Alpha profiling, strategy toolkits, broker scorecards: The keys to best execution?
Various tools are emerging to help buy-side firms optimise their broker selection for best execution. Examples include algo wheels, broker scorecards and bracketing frameworks that allow for effective monitoring of broker performance on an ongoing basis. Joel Clark and Mike O’Hara of The Realization Group discuss the most effective use cases for alpha profiling and the challenges that may be associated with such an approach. They talk to Dan Royal of Janus Henderson Investors, Allan Goldstein of Trade Informatics, Michael Broadbent from the Ergo...
323 days ago,(2018/03/05)
The Realization Group wrote a new blog post titled Q&A with Allan Goldstein, Trade Informatics
Harrington Starr announced Definitive List of the 100 Most Influential FinTech Companies 2018 at the FinTech Influencers event in London. Allan Goldstein, CFO, COO and CCO at Trade Informatics explains why Why was the company set up? How did you select the vertical and decide to be a part of the global FinTech community? We set up Trade Informatics in 2009, prior to the global FinTech surge, to extend on our experiences in institutional equity trading. At this time the industry was largely high-touch plus a nascent low-touch with basic benchmarking algorithms. The major sell-side...
353 days ago,(2018/02/02)
The Realization Group wrote a new blog post titled Beating repetitive strain: Value-added services in post-trade
New technologies and new business models, as well as regulatory drivers such as MiFID II and Dodd-Frank, are contributing to a transformation in the post-trade landscape. From a regulatory standpoint, the push towards central clearing of OTC and bilaterally traded instruments presents firms with a number of challenges but also new opportunities, as clearing firms and technology vendors innovate to overcome some of the obstacles associated with these changes. In this Financial Markets Insights report, Dan Barnes & Mike O’Hara of The Realization Group hear from Julie Carruthers of...
355 days ago,(2018/02/01)
The Realization Group wrote a new blog post titled AI and Deep Learning in Risk and Investment Management
Deep learning, or the ability of machines to learn using artificial neural networks, has been around since the mid-1960s. In recent years, however, advances in computation performance and storage technologies are enabling the large quantities of data required for effective neural networks to be rapidly processed. As a result, the use of deep learning is increasingly being explored across multiple industries and geographies. In this article, Mike O’Hara and Joel Clark of The Realization Group discuss the possible use cases for deep learning within financial services, particularly in risk...
413 days ago,(2017/12/05)
The Realization Group wrote a new blog post titled Making the market: Building prices in fixed income
The fixed income markets are going through a period of significant transition. While capital constraints and a long period of low volatility have led to challenges in how firms source liquidity, recent increases in bond volatility have led to renewed profitability - and investment - in the markets. And with regulatory reforms forcing more and more trading into the electronic domain, new liquidity venues are beginning to proliferate. Firms across the buy side and the sell side are now having to assess what this all means from a technology perspective. In this Financial Markets Insights report,...
435 days ago,(2017/11/13)
The Realization Group wrote a new blog post titled Roundtable Report - Embracing the sharing economy: Why outsourcing financial infrastructure is taking off
During October 2017, The Realization Group, together with McKay Brothers, Interxion and Options Technology, hosted a round table to discuss a trend whereby increasing numbers of financial firms are now outsourcing vital parts of their trading infrastructure. Driven partly by regulatory requirements as well as cost considerations, many companies are discovering that outsourcing makes for a compelling business case. For many years, the objection, particularly at large banks, was that it was not safe to hand over mission-critical parts of an operation to external companies. That concern has...
461 days ago,(2017/10/18)
The Realization Group wrote a new blog post titled Do Good to Do Better: How a focus on ESG can improve financial performance as well as the climate
Barbara Kingsolver’s novel ‘Flight Behaviour’ tells the story of monarch butterflies who cannot use their normal winter site in Mexico because of a warming climate. In the book an entimologist asks what is the use of saving a world that has no soul: “Continents without butterflies, to seas without coral reefs, he meant. What if all human effort amounted basically to saving a place for ourselves to park?” The financial industry has been looking for ways to help save the soul of the planet through sustainable investing, which considers environmental, social and...
461 days ago,(2017/10/18)