Buyer’s Guide: Consolidated Regulatory Reporting Systems

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GreySpark Partners presents a report reviewing consolidated regulatory reporting solutions of five third-party RegTech vendors utilised by buyside markets participants.

Adaptation to the Securities Financing Transactions Regulation

| Regulations, Report | No Comments
This report examines the EU’s Securities Financing and Transactions Regulation, which is set for full implementation in Q4 2018.

Buyer’s Guide: Fixed Income Transaction Cost Analysis Solutions

| Report, Technology Trends | No Comments
This buyer’s guide report provides readers with a detailed overview of eight bonds trading transaction cost analysis (TCA) solutions that offer users both post-trade and pre-trade pricing analysis and best…

Buyer’s Guide: Sellside Cash Equities OMS and EMS

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GreySpark Partners presents a report reviewing 10 third-party technology vendor Cash Equities OMS and EMS utilised by the sellside.

The Bonds Electronic Trading Landscape 2017

| Report, Sellside Trends | No Comments
This report explores the contemporary electronic bonds trading venue landscape. Quantitative analysis of the bonds e-trading landscape aims to put into context and track the advancement of how the historically…

DevOps for Financial Services Firms

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GreySpark Partners presents a report that provides financial services firms with guidance on how to introduce automation and flexibility into their daily operations to remain competitive within the industry.

Trends in Fixed Income Trading 2017

| Report, Sellside Trends | No Comments
This report explores the ongoing structural shifts taking place in the corporate and government bonds markets.

Best Practices in Sellside Regulation Implementation

| Regulations, Report | No Comments
GreySpark Partners presents a report that provides investment banks with guidance on how to build a forward-looking, self-regulating sellside institution that has the flexibility to adjust to ongoing regulatory demands…

Buyer’s Guide: Trade Surveillance Systems

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This report reviews six third-party technology vendor trade surveillance systems utilised by both buyside and sellside markets participants.

Trends in Derivatives Trading 2017

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This report assesses the sellside imperatives driving the futurisation of OTC fixed income swaps, looking specifically at the dynamics of OTC IRS and CDS indices trading.

Mastering MiFID II: Asia-Pacific Implementation & Compliance

| Regulations, Report | No Comments
This report continues GreySpark Partners’ analysis of the impact of the second iteration of the Markets in Financial Instruments Directive (MiFID II) on the investment banking industry and on the…

The Fundamental Review of the Trading Book in the EU

| Regulations, Report | No Comments
This report explores the ways in which the Fundamental Review of the Trading Book (FRTB) proposals would impact the ability of EU-based banks to continue operating principal-centric, front-office business and…

Enhancing Securities Settlement Systems

| Report, Technology Trends | No Comments
This report presents a blockchain solution to the time-consuming and costly securities clearing and settlement processes currently employed in Hong Kong.

Trends in FX Trading 2017

| Report, Sellside Trends | No Comments
This report explores significant shifts in the global spot FX trading environment that took place between 2015 and 2017.

The Payments Landscape in Australia

| Digital Industrialisation & Transformation, Report | No Comments
In Australia, technology driven innovation and increasing fintech-focused competition is catalysing the digital disruption of the payments landscape.

Buyer’s Guide: Buyside Multi-asset OEMS

| Report, Technology Trends | No Comments
GreySpark Partners presents a report exploring how, in 2017, asset managers, hedge funds, institutional investors and wealth managers are under pressure from regulations and tighter margins to cut operational and…

Buyer’s Guide: FX E-trading Systems 2017

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This report reviews five third-party technology vendor FX e-trading systems utilised by both buyside and sellside currencies markets participants.

Mastering MiFID II: Market Structure & Pre- and Post-Trade Implications

| Regulations, Report | No Comments
GreySpark Partners presents a new report Mastering MiFID II: Market Structure & Pre- and Post-trade Implications that explores the different trading venues and counterparties under the updated Markets in Financial…

The Evolution of Robo-advisory Services

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GreySpark Partners presents a report, The Evolution of Robo-advisory Services, exploring the emergence of robo-advisory services in the investment management space.

Buyer’s Guide: Infrastructure Cloud Providers for Financial Services

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This buyer’s guide report outlines the key aspects of infrastructure-as-service (IaaS) cloud offerings that must be assessed by financial institutions before selecting a cloud provider.

Achieving Vendor-agnostic Market Data APIs

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This report examines the market data end-user API abstraction layer that financial institutions can utilise to overcome proprietary market data vendor technologies.

Best Practices in Buyside Regulation Implementation

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This report explores the ways in which large EU- and UK-based buyside firms can run and execute change management programmes associated with the implementation of and compliance with a spate…

Buyer’s Guide: Risk Management Solutions

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The risk management system space is undergoing significant changes as a consequence of regulations, the growing importance of data within institutions and the emergence of digital risk.

Best Practices in Pre-Trade Risk Controls 2016

| Regulations, Report | No Comments
This report provides an update to GreySpark Partners’ Best Practices in Pre-Trade Risk Controls 2014 report, which assessed the ongoing challenges that increasingly complex electronic execution systems posed to healthy…

Secure Migration to Cloud Services

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GreySpark Partners presents a new report examining the drivers behind the increasing adoption of cloud-based services within financial institutions. Since 2010, the cloud computing industry has increased the variety of…

Mastering MiFID II: Turning Buyside Compliance Costs into Strategic Investments

| Buyside Trends, Report | No Comments
This report explains how strategic IT investment in pursuit of compliance with the second iteration of the EU’s Markets in Financial Instruments Directive (MiFID II) will allow buyside firms to…

Mastering MiFID II: Investor Protection

| Regulations, Report | No Comments
This report summarises the challenges presented by the second iteration of the EU’s Markets in Financial Instruments Directive (MiFID II) to buyside firms with European operations in the context of…

Mastering MiFID II: Implications for Execution in Investment Banking

| Regulations, Report | No Comments
Assessing the Cost of Compliance This report is the first in a series of GreySpark Partners reports examining buyside and sellside business and operation imperatives associated with compliance with the…

Democratising Data

| Digital Industrialisation & Transformation, Report | No Comments
Self-service Advanced Analytics in the Financial Services Industry This report assesses how self-service advanced analytics solutions can be used to enrich the output of business managers, focusing on their use…

Countering Cyber-crime in Financial Services

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Keeping Your House in Order This report provides an overview of the cyber-threats faced by financial institutions in 2016. Financial services sector companies are re-investing vast sums of money to…

Trends in Fixed Income Trading 2016

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Metamodern Meditations on the Future Market Structure This report forecasts how the structure of trading in the fixed income market could change over the next five-to-10 years. Specifically, the report…

Big Data Use Cases in Financial Services

| Digital Industrialisation & Transformation, Report | No Comments
The who, what, where, when and why of Big Data.  This report covers nine key use cases for Big Data technology in the financial sector. The use cases are demonstrated…

Innovative Use of Drop Copies

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Software Capable of Deriving Simplicity from Complexity in Volume GreySpark Partners presents a whitepaper exploring how, in 2016, drop copy data received from an exchange is increasingly being used by…

Digital Transformation of Investment Banking

| Digital Industrialisation & Transformation, Report | No Comments
The Capital Markets’ Industrial Revolution GreySpark Partners presents a report, Digital Transformation of Investment Banking, exploring the emerging industrial revolution of wholesale banking operations’ business models. It explores the influence of…

Big Data Technology in Investment Banking

| Digital Industrialisation & Transformation, Report | No Comments
Understanding the Fundamental Concepts of Big Data Hadoop. GreySpark Partners presents Big Data Technology in Investment Banking, a report that provides business managers in investment banks with a high-level explanation…

Trends in FX Trading 2015

| Report, Sellside Trends | No Comments
GreySpark Partners presents a report, Trends in FX Trading 2015, exploring how all-to-all (A2A) trading became a reality in the spot FX market. This change in the structure of the…

Best Practices in BCBS 239 Compliance

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Unravelling Sellside Risk Management Data Rationalisation This report, Best Practices in BCBS 239 Compliance, summarises lessons learned by GreySpark Partners in assisting a number of investment banks in the implementation…
The Blockchain: Capital Markets Use Cases

The Blockchain: Capital Markets Use Cases

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GreySpark Partners presents a report, The Blockchain: Capital Markets Use Cases, examining how investment banks and other financial markets firms could potentially utilise distributed ledger technology (DLT) in the future.…

Trade and Transaction Reporting in the EU: Understanding the Regulatory Mandates from a Practitioner’s Perspective

| Regulations, Report | No Comments
A new GreySpark Partners report, Trade and Transaction Reporting in the EU, details the status of trade reporting in European Markets Infrastructure Regulation (EMIR) and transaction reporting in the Markets…

Trends in Equities Trading 2015: The Disappearing Sellside Middle

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A new GreySpark Partners report, Trends in Equities Trading 2015, analyses the implications for investment banks of how the long-standing relationship between equities markets volatility and the ability of bank…

Addressing Technology Debt: Managing the Unintended Consequences of Regulatory Change

| Digital Industrialisation & Transformation, Report | No Comments
A new GreySpark Partners report, Addressing Technology Debt, outlines principles on how financial markets organisations can proactively manage and reduce technology debt. Technology debt observed in 2015 occurred when companies…

Buyer’s Guide: FX E-trading Systems — The Evolution of Vendor Offerings for FX Trading

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In 2015, the technology vendor landscape for FX e-trading platforms and systems has achieved a state of maturity in terms of sophistication that remains unique within the capital markets arena.…

Buyer’s Guide: Alternative Market Data Vendors — Challenging, But Not Impossible

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Efficient functioning of capital markets trading firms relies on timely, accurate and reliable market data. Today, firms spend vast sums ensuring that everyone across their organisation has access to data…

Buyer’s Guide: Sellside Cash Equities OMS and EMS — A Plateau in Cash Equities Technology

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In 2015, a broker wishing to select a technology solution for cash equities trading has a wide spectrum of choices. With core order and execution management functionality commoditised, the solution…

RMB Internationalisation: Translating Policy into Practice

| Report, Sellside Trends | No Comments
Concern about decreases in the rate of growth of China’s economy is both a pervasive and tenacious perspective in the media. While it is true that China is dealing with…

Collateral Optimisation: Challenges and Opportunities 2015

| Report, Sellside Trends | No Comments
Following the start of the financial crisis in 2008, a new wave of global capital markets regulations such as the Basel III accords, the US Dodd-Frank Act and the EU’s…

Rebooting the Corporate Bonds Market: Electronic Trading to the Rescue of a Broken Market

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GreySpark Partners presents a report examining how an unprecedented wave of innovation is reshaping the market structure for corporate bonds trading. A re-evaluation of the corporate bonds market’s trading model…

Best Practices in Managing Conduct Risk 2015 — The New Regulatory Frontier for Risk, Compliance and Operations in Financial Institutions

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Following the financial crisis, conduct risk has emerged as an important agenda for capital markets regulators. As regulatory reforms change the structure of capital markets, law makers are increasingly examining…

RMB Internationalisation: Easing Foreign Investor Access to Mainland China

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In 2014, China’s currency – the Renminbi (RMB) – passed several key milestones on its way to becoming an international trade and investment currency. RMB internationalisation is a process whereby…

Buyer’s Guide: Innovative Wealth Management Systems — Agile Software in the Era of Client-centric Functionality

| Buyside Trends, Report | No Comments
The adoption of e-commerce business models among asset management and wealth management firms in an effort to provide clients with access to electronically-traded markets for a variety of different types…

Buyer’s Guide: Fixed Income E‑trading — Evolution of Vendor Offerings for Fixed Income

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As the trading of fixed income products becomes increasingly electronic, the market for the instruments is becoming more automated, which encourages the need for technology vendor solutions to support market…

Trends in E-commerce 2014: Renewing the Focus on Sellside Client-centric Thinking

| Report, Sellside Trends | No Comments
In 2014, the most successful sellside e-commerce offerings are cross-channel, wherein buyside clients can choose a communication channel to use depending on the trading activity. The latest developments in sellside…

Trends in FX Trading 2014: Signs of the Emerging All-to-All Market Structure

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GreySpark Partners presents a report exploring signs of the emerging all-to-all (A2A) market structure for flow FX trading in 2014. The report examines how, with increasing frequency, buyside firms are…

T+2 Settlement Implementation in Europe: Challenges to APAC Readiness

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GreySpark Partners presents a report that examines the significant changes to global settlement practices triggered by the EU’s Oct. 6, 2014 move to T+2 settlement. The report examines the challenges…

Best Practices in Pre-trade Risk Controls 2014: Conducting Risk Control Assessments of Electronic Execution Systems

| Report, Sellside Trends | No Comments
GreySpark Partners presents a report examining best practices in the creation and implementation of electronic trading pre-trade risk controls for sellside automated trade execution systems. The report explores the implications…

UX and Software Development in Banking: How Sophisticated Design can Transform Complex Banking Systems

| Report, Technology Trends | No Comments
Since 2000, capital markets investment banking technology has changed dramatically with the emergence of the first single-dealer platforms (SDPs) and the eventual adoption of new and better underlying scripting languages.…

Buyer’s Guide: Futures & Options OMS and EMS 2014

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With a high level of electronification and a relatively standardised trading cycle for futures & options trading, off-the-shelf trading systems can be obtained from numerous software houses. This report from…

Buyer’s Guide: Transaction Cost Analysis 2014 — Functionality Review

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GreySpark Partners presents a report that examines 12 technology vendor solutions in the TCA space. Buyers Guide: Transaction Cost Analysis 2014 is the second of two GreySpark reports exploring TCA.…

Fixed Income: Buyside Best Execution — Challenges in Demonstrating Best Execution in Fixed Income

| Buyside Trends, Report | No Comments
GreySpark Partners presents a report that examines current practices in managing the best execution obligation for fixed income in buyside firms. The report explores the need for new technology solutions…

Trends in Fixed Income Trading 2014: Transitioning from a Principal Model to an Agency Model

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GreySpark Partners presents a report exploring the increasing use in 2014 of the use of e-trading technology by sellside institutions to deal corporate bonds and interest rates swaps (IRS). The…

Transaction Cost Analysis 2014: The Outlook for TCA Use Among Capital Markets Participants

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GreySpark Partners presents a report that examines the changing role of Transaction Cost Analysis (TCA) among capital markets participants. Transaction Cost Analysis 2014 is based on a GreySpark survey of…

Asia-Pacific OTC Derivatives Clearing 2014

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GreySpark Partners presents a report exploring the development of the landscape in Asia-Pacific in 2014 for the provision of investment bank OTC derivatives clearing brokerage services to buyside firms in the region.…

Trends in Equities Trading 2014: The Emergence of a ‘New Normal’ Trends in E-commerce and Electronic Trading

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GreySpark Partners presents a report that examines the state of trading in equity markets. Trends in Equities Trading 2014, assesses the ‘new normal’ that is emerging in equity markets as…

Swap Execution Facilities: Taking the Next Step

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GreySpark Partners presents a report exploring the emerging SEF landscape, giving insight into recent SEF aggregation requirements and developments. The report, Swap Execution Facilities: Taking the Next Step, is part of…

Effective Liquidity Risk Management 2013

| Report, Sellside Trends | No Comments
Effective Liquidity Risk Management 2013 outlines principles all investment banks can follow as they navigate through the complexities of Basel III plans to enforce changes in the calculation and future…

EU Financial Transaction Taxes

| Regulations, Report | No Comments
EU Financial Transaction Taxes analyses a European Commission (EC) proposal to implement a financial transaction tax (FTT) across 11 EU member states. The report also examines the implementation of FTTs…

Trends in E-commerce 2013

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Trends in E-commerce 2013 explores the latest trends in investment banking e-commerce. It examines how the current generation of single-dealer platforms (SDPs) must be replaced with a new quality of…

Digital Investment Banking – Beyond Single-Dealer Platforms

| Digital Industrialisation & Transformation, Report | No Comments
Digital Investment Banking - Beyond Single-Dealer Platforms examines the state of banking platforms from the perspective of professional investors. The report is targeted at buyside readers, analysing the buyside approach…

The Global Regulatory Landscape 2013

| Regulations, Report | No Comments
GreySpark Partners present a report exploring the emerging global regulatory landscape, taking an international view of what are often regional requirements. The report, titled The Global Regulatory Landscape 2013: Five…

Trends in FX Trading 2013

| Report, Sellside Trends | No Comments
GreySpark Partners has published a new report examining future structural changes to the FX market as the fragmentation of FX liquidity across a larger number of trading venues increases. Trends…

Fixed Income Electronic Trading 2013: How Banks Can Prepare for Changes in the Market Structure

| Report, Sellside Trends | No Comments
A new piece of research from GreySpark Partners examines the state of fixed income electronic trading for bonds, CDS and IRS. The report analyses how the traditional roles of investment banks…

Low-Latency Messaging Middleware: Pursuing Nanosecond Trading

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The third report in a three part GreySpark series on low-latency technology looks at messaging middleware, in a vendor review that concludes that the pursuit of nanosecond trading speeds is…

High-Frequency Trading: The Good, the Bad and the Ugly

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In part two of the GreySpark report on high-frequency trading (HFT) -- High-Frequency Trading: The Good, the Bad and the Ugly -- risk controls are highlighted as essential elements of…

High Frequency Trading: the Fast and the Furious

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Part one of GreySpark's research on high-frequency trading (HFT) -- High Frequency Trading: The Fast and the Furious -- explores how, despite regulatory efforts to curb the trend, HFT and…

Buyside Portfolio Management Systems

| Buyside Trends, Report | No Comments
Buyside portfolio managers are faced with the challenge of balancing the conflicting requirements of investments, objective matching, asset allocations and balancing risk against performance. These requirements can be addressed by…

Review of Buyside OMS and EMS

| Buyside Trends, Report | No Comments
Review of Buyside OMS and EMS is the second report in the portfolio, order and execution management systems series. Across the Buyside OMS and EMS are needed to improve efficiencies…

SEF Aggregation – Approaches, Pitfalls and Solutions

| Report, Technology Trends | No Comments
Part III of the SEF series reflects on the business and technology challenges in presenting an aggregated market view of SEFs from a market data and execution perspective. It discusses…

Swap Execution Facilities – The Technology Landscape

| Report, Technology Trends | No Comments
Part II in the series of SEFs reports takes a look at the current and planned technology landscape in a cleared swaps market, assessing the connectivity interfaces offered by SEF…

Swap Execution Facilities – The Business Landscape

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Swap Execution Facilities (SEFs) are emerging from the Dodd-Frank Act, this research forecasts how the market structure for swaps trading might develop and presents how the emerging SEFs will evolve…

Low Latency in Asia-Pacific: an Infrastructure View

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Asian markets are undergoing a paradigm shift as they mature, grow and react to the redistribution of global wealth. Markets in the US and Europe have been undergoing rapid change…

Trends in e-Commerce and Electronic Trading 2012

| Report, Sellside Trends | No Comments
'e' relates to e-commerce and electronic trading. e-Trading refers to trading through electronic platforms including direct connectivity and application programming interfaces (APIs), multi-dealer platforms (MDPs) and single-dealer platforms (SDPs). ‘e’…

Sellside Order and Execution Management Systems

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Sellside order and execution management systems for equities and listed derivatives trading, in line with all other flow businesses, is dominated by the need for greater efficiency; the emphasis is…

Infrastructure Investment: Are Banks Penny-wise and Pound-foolish?

| Report, Technology Trends | No Comments
The biggest challenge for securing budget for IT infrastructure investment is to build a compelling business case – this paper explains how to build one by showing, quantitatively, what the…

Low Latency: Faster than Light

| Report, Technology Trends | No Comments
Over the past 15 years (since the majority of securities exchanges became electronic), speed has become the weapon of choice for major financial institutions. Five years ago, in the run…

OTC Derivative Clearing: Navigating the New Regulatory Landscape

| Regulations, Report | No Comments
Regulatory changes in the EU and US require OTC derivatives to pass through a clearing house, requiring organisational and technological changes. For More Information Please: Regulatory developments in the EU…

Best Execution: the State of Play

| Regulations, Report | No Comments
This GreySpark report determines that best execution generates distinctive expectations, benefits and delivery methods across buyside and sellside players and technology providers. For More Information Please: The best execution requirement…

MiFID II: Impact of the new European Regulations

| Regulations, Report | No Comments
This report highlights certain incursions that MiFID II may cause based on the amendments to MiFID, as outlined in the EC consultation paper. A salient change is that legitimate hedging…

Trends in E-Commerce and Electronic Trading 2011

| Report, Sellside Trends | No Comments
E-commerce no longer just applies to the trading end of the spectrum, but it needs to be across the entire investment life cycle if banks want to maintain their edge.…