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Rob Daly wrote a new blog post titled Hyperledger Ramps Up Efforts
Hyperledger Ramps Up Efforts The newly minted executive director of the Hyperledger Project, Brian Behlendorf, managed to speak with Markets Media to discuss the status of the open-source distributed-ledger initiative and shared his thought on the year ahead. The Daly Post
1200 days ago
Rob Daly wrote a new blog post titled Getting the Blockchain Blues
Getting the Blockchain Blues I spent the first part of this week attending CoinDesk’s Consensus 2016 blockchain conference in Midtown Manhattan. It was a great event with good content and a huge audience. However, now I’m having a post-blockchain crash. (It’s like the crash after a sugar high, but more forgiving on the teeth and waistline.) Yes, blockchain will change… The Daly Post
1232 days ago
Rob Daly wrote a new blog post titled CAT Reaches Next Milestone
CAT Reaches Next Milestone After four years of waiting for the self-regulatory organizations to submit their plan for the Consolidated Audit Trail, the Securities and Exchange Commission unanimously approved to release it for comment. In the next few days, the plan will appear in the Federal Register and the SEC will have 180 days from then to select a… The Daly Post
1240 days ago
Rob Daly wrote a new blog post titled Rethinking Institutional Bitcoin Investments
Rethinking Institutional Bitcoin Investments I might have been hasty in my last post regarding being bearish on institutional investments in bitcoins. After interviewing Pantera Capital CEO Dan Morehead for Trader Magazine’s current cover story, I refined my views a bit. Buy-and-hold asset managers will still find investing in the digital currency directly difficult. The bitcoin market remains relatively small, highly fragmented, […] The Daly Post
1431 days ago
Rob Daly wrote a new blog post titled Institutionally Bearish on Bitcoins
Institutionally Bearish on Bitcoins The more research that I dig up for an upcoming feature on institutional investors and bitcoins, the more I believe that it will be a few more years before asset managers are able to profit from digital-currency investments. This has nothing to do with the maturity of the bitcoin infrastructure, which is fine and only needs […] The Daly Post
1431 days ago
Rob Daly wrote a new blog post titled Seeding the Front-Office Clouds
Seeding the Front-Office Clouds Two phrases that never seem to go together are “high performance” and “hosted cloud computing,” but two-year old startup Lucera looks to change the industry’s mind with its aptly named Compute offering. Most marquee cloud providers typically focus on driving down computing costs through server consolidation, explained Jacob Loveless, CEO of Lucera. “It’s very cheap in […] The Daly Post
1431 days ago
Rob Daly wrote a new blog post titled Bitcoins! Bitcoins! Bitcoins!
Bitcoins! Bitcoins! Bitcoins! Ron Quaranta,Wall Street Bitcoin Alliance Kicking of the second season of The Daly Post Podcast, I sit down with Wall Street Bitcoin Alliance executive director Ron Quaranta and discuss what institutional investors, broker-dealers, exchanges and vendors need to do to take part in the ever-growing Bitcoin market. Although these cryptocurrencies have strong libertarian, over-the-counter, and retail roots, Quaranta sees the markets maturing quickly and growing dramatically enough in the next few years to support institutional-sized investments. However, there is...
1606 days ago
Rob Daly wrote a new blog post titled Fed Calls for Further Non-bank Transparency
Fed Calls for Further Non-bank Transparency Federal Reserve Vice Chairman Stanley Fischer Speaking before German Finance Ministry and Bundesbank officials earlier today, Federal Reserve Vice Chairman Stanley Fischer warned his audience that non-bank are less vulnerable than they were during the global financial crisis, but now is not the time to relax. “Regulation is a ‘cat and mouse’ game,” said Fischer. “Regulators need to respond to existing regulatory gaps and to keep pace with further changes. We hope we will succeed in doing so. But we know that we will...
1637 days ago
Rob Daly wrote a new blog post titled BATS Announces London-based Hotspot
BATS Announces London-based Hotspot Since completing its acquisition of Hotspot institutional foreign-exchange (FX) market earlier this month, BATS Global Markets officials have not let the grass grow under their feet. The global exchange operator plans to deploy an instance of its Hotspot matching engine in its Slough facilities later this year. “We plan to move swiftly with this project to meet the demand from European customers,” said Bill Goodbody, senior vice president, foreign exchange at BATS. The new matching engine will target the currencies that dominate trading during...
1640 days ago
Rob Daly wrote a new blog post titled Tweaking FPGAs for Better Trading
Tweaking FPGAs for Better Trading Author Khaled Aly argues that hardware-based decimal-floating-point arithmetic (DFPA) offerings deliver better FPGA performance for low-latency trading than native binary floating-point arithmetic or software-based DFPA. Via EE Times.
1673 days ago
Rob Daly wrote a new blog post titled Electronifie Joins Electronic Fixed-Income Fray
Electronifie Joins Electronic Fixed-Income Fray Start-up electronic fixed-income trading venue operator Electronifie plans a novel way to bring liquidity to its order-driven market for US corporate bonds, which should launch sometime this quarter. The vendor’s all-to-all platform consists of a displayed limit-order book and a separate non-displayed mid-point match venue for large-block trades in the 1,500 to 1,700 most liquid CUSIPs from the 300 largest distinct issuers, according to company officials. Electronifie’s limit-order book will display live executable orders from...
1675 days ago
Rob Daly wrote a new blog post titled Brokers, Synchronize Your Watches
Brokers, Synchronize Your Watches Traders magazine has published a short piece on whether brokerages could meet the 50-millisecond drift window for their server clocks proposed by FINRA.
1681 days ago
Rob Daly wrote a new blog post titled The Sound and Fury of Fixed-Income Trading
The Sound and Fury of Fixed-Income Trading This may be a poorly timed post since the Tabb Forum’s annual fixed-income conference is tomorrow, I’m pretty bearish on meaningful changes in corporate-bond market these days. There’s been a lot of activity in the electronic-trading space for fixed income over the past year as agency brokerage ITG and Tradeweb launch their respective trading platforms for corporate bonds to compete against MarketAxess’s all-to-all trading model. Even this week, we saw Lime Brokerage co-founder and former-CEO Alistair Brown announce the...
1695 days ago
Rob Daly wrote a new blog post titled BATS Market Structure Reform: The Devil Take the Hindmost
BATS Market Structure Reform: The Devil Take the Hindmost The industry might have rung out 2014 discussing the “grand compromise” on the US equity market structure led by the Intercontinental Exchange that would lower access fees in exchange for a trade-at rule, but BATS Global Trading wasted no time in the new to offers its market-structure alternative. In an open letter to the industry, exchange CEO Joe Ratterman and president Chris Concannon argue against the compromise as a bad deal for investors despite it being a win-win for exchange operators and broker-dealers....
1715 days ago
Rob Daly wrote a new blog post titled Gloves Come Off at SEFCON V
Gloves Come Off at SEFCON V The era of good feelings definitely is over for the over-the-counter (OTC) derivatives market judging by the tone of the conversations at yesterday’s SEFCON V. “It’s to be expected,” said  a beaming Chris Ferreri, chairman of the Wholesale Brokers’ Association Americas (WBAA) and who hosted the event. “Last year, we all were trying to accomplish the same thing. But with ‘made available to trade’ in place, we are all competitors now. Isn’t great?” The zingers flew wild and free during the conference’s...
1771 days ago
Rob Daly wrote a new blog post titled Is Tech Driving Business Growth?
Is Tech Driving Business Growth? This might be heresy for a financial technology blog, but is technology driving business growth in the capital markets? I ask this because I had an organizational call for a panel discussion I’m moderating during Linedata Exchange New York on October 7 this morning. The panel,  entitled “Truth or Myth? What Drivers Really Play a Role in Growing the Business Today?”, promises to be an interesting conversation with Jeff Scannell, vice president of trading technology at State Street Global Markets; Ryan Bateman, director of technology at Sands...
1815 days ago
Rob Daly wrote a new blog post titled Electronic Trading Makes Frontier Markets More Attractive
Electronic Trading Makes Frontier Markets More Attractive The global frontier markets are mature enough to give the emerging markets a run for their money, according to Aite Group’s Danielle Tierney and Gabriel Wang. The industry analyst firm recently published a research note, Frontier Markets: Emerging World: Exploring the New Frontier,  in which the authors examine the macroeconomic and fundamentals of 65 frontier markets and found reasonable valuations, low volatility and low correlation between developed and emerging markets. Usually I am not interested in the straight economic research,...
1819 days ago
Rob Daly wrote a new blog post titled Once more into the breach, dear friends, once more…
Once more into the breach, dear friends, once more… I know Wall Street’s grapevine is second to none when it comes to job changes and departures, but I’d like to update those who have not heard the news: After a few months at Asset International as the first joint US editor for The TRADE and Global Custodian, I’m back to freelancing. The role always was an experimental one and not all experiments work out, hence the term. There are some great people on both publications and I’ll miss working with them daily. In the meantime, I finally can give this blog the...
1826 days ago
Rob Daly wrote a new blog post titled Kiss the SIPs Goodbye? Hell no!
Kiss the SIPs Goodbye? Hell no! The Securities Industry and Financial Market Association (SIFMA) published its recommendations for changes to the US cash equities market structure that promises enough pain for broker-dealers as well as exchanges and alternative trading system operators. Since reporting on it earlier this week, I am still trying to wrap my brain around the impact SIFMA’s proposed changes would have if the market adopts them. Besides implementing kill switches, expanding the reporting requirements to the Financial Industry Reporting Authority and reducing/eliminating...
1886 days ago
Rob Daly wrote a new blog post titled New Job, Similar Focus
New Job, Similar Focus I apologize for not updating the blog as much as I should. It’s just been a crazy time for the past few months. That should change in a few weeks when I exchange my freelancer’s lifestyle for a new job as the US editor for Global Custodian and The Trade. More details to come.
1946 days ago