A new quantitative trading client, Dark Forest Technologies, is now live on FlexTrade Systems' OEMS platform - FlexONE. Dark Forest, a systematic hedge fund, will utilise FlexONE’s scalable, high-performance capabilities to seamlessly consolidate all quantitative and systematic trading capabilities onto one platform and leverage FlexTrade’s related suite of fully integrated real-time trading API’s to automate the intake and throughput of orders in their pursuit of alpha-driven best execution strategies. LOGr-App. comLOGr-Research.com - Search Your Way - Category Engine (Targeted Selection: News/Financial/Shop/Style), Saved Searches, Fast Updates, Take Notes, Export with Citation, In the App Store https://apps.apple.com/us/app/logr-research-app/id1456324753
“Many ... corporate bond trading platforms ... have been successful by providing ... solutions that improve the efficiency and effectiveness of the ... dealer-focused (RFQ) trading protocol, with the understanding that the role of dealers as intermediaries is here to stay.”
https://tabbforum.com/opinions/from-too-big-to-fail-to-too-large-to-survive/ Larry Tabb TABB Group - "The trading business is being captured by electronic market makers/liquidity providers, and the short-term risk transfer business is being poached by shorter-term quantitative and specialized hedge funds." ... "If the business isn’t shuttered, it becomes almost impossible to rip out the core processing systems, order management platforms, algorithmic infrastructures, reporting lines and business planning processes to achieve the cost structure and agility needed to succeed. Unfortunately, for most firms, that is what is needed."
https://tabbforum.com/opinions/the-problem-with-algo-wheels/ Michael Mollemans - TABB Group "The problem with algo wheels, however, is that they tend not to account for the risk factors underlying the fat-tail distribution of algo returns, and algo wheel selection processes often turn into a game of guessing the finer points in the algo wheel’s logic. The better the guess, the better the fit to the algo wheel, the better the ranking. All in all, algo wheels need to go beyond gross median cost calculations to include standard deviation risk factors, as well as netting out market and sector betas, or the end result likely will be broker algo rankings that just oscillate between best to worst and then from worst to best along a mean reverting system over time." Click here for other articles on the wheel.
http://svdaily.com/refinitiv-appoints-news-industry-veteran-as-head-of-news-performance/ BUSINESS WIRE - "New role created in response to increased demand for trusted news in turbulent geopolitical environment." ... "Refinitiv has appointed Richard Mably as Head of News Performance to enhance the value of Refinitiv’s extensive news coverage to help power and advance the financial community." ... " Refinitiv has invested heavily to expand news coverage on the Refinitiv Data Platform in response to demands from customers for market moving insight across the globe. Refinitiv now carries news from over 10,000 sources up from 7,000 thousand sources two years ago."
https://tabbforum.com/opinions/three-predictions-for-the-future-of-the-desktop/ James Wooster Glue42 - "A major trend we are witnessing right now is what is labelled as “Digital Transition” – that is to say, the common-sense alternative to a multi-year application rewrite. The key steps are: Host the applications in a desktop workspace alongside the other (non-legacy) applications. Deploy user-behavior analytics to identify the areas of the legacy applications that are most used and/or would benefit from a rewrite. Provide external access to these areas via simple interop data-sharing techniques and expose as discoverable micro-applications . These micro-applications can then be used as is or selectively replaced with new and/or more functional replacements. Critically, all of this can be done while preserving the user experience before, during and after change." Related video: - https://tabbforum.com/videos/the-financial-desktop-of-the-future-james-wooster-glue42/
https://www.finextra.com/blogposting/18200/due-diligence-2o-how-vendor-risk-assessment-will-evolve Alex Golbin IHS Markit - "Due diligence transformed ... Redesigning due diligence with control objectives makes the process more logical and the outcomes more applicable to assessing and managing third-party risk. ... Notably, the process is more efficient for financial institutions and vendors alike, time to market is faster for firms making risk-based decisions, and firms can have much more confidence that their assessment and monitoring procedures produce actionable insight. ... All of these combine to improve the overall risk posture of the industry. ... It will be a journey, but the faster we start, the better off we will be."
https://hbr.org/2019/11/how-machine-learning-pushes-us-to-define-fairness?utm_source=twitter&utm_medium=social&utm_campaign=hbr David Weinberger - As we look at higher levels of abstraction — from using sliders to adjust the mixes in the bins, to questions about optimizing possibly inconsistent values — ML is teaching us that fairness is not simple but complex, and that it is not an absolute but a matter of trade-offs.
https://tabbforum.com/opinions/financial-research-the-final-frontier-for-fintech-innovation/ Rowland Park - Of course, Refinitiv (formerly known as Reuters) and Bloomberg terminals have been a mainstay of trading desks for decades, but now firms are using algorithms to transform headlines into data which can be utilized by both human traders and algorithms, to drive trading decisions. ... The volume and lack of innovation in the world of financial research means that it is very difficult for market participants to effectively handle and consume the information they are receiving, leading to less-effective outcomes. ... The opportunity now is to use smart technology to transform the liability of information overload in financial research into the asset the analysis was designed to be in the first place.