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Big US banks back new bond trade venue - FT.com

Big US banks back new bond trade venue - FT.com | Financial Market eCommerce | Scoop.it
Some of the largest banks have tentatively agreed to create a new electronic bond trading venue in an attempt to improve liquidity in the $9tn market for US corporate debt while still retaining their control over the way the securities change hands.
Angus Pearson 潘雅贵's insight:

Liquidity begets liquidity. The solution cannot be generated from a few million USD of money alone. It will be found where liquidity is already most abundant. 

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Why corporate bond liquidity is becoming a problem

Why corporate bond liquidity is becoming a problem | Financial Market eCommerce | Scoop.it
“As the sell side shrinks and the buy side gets bigger and bigger, that’s going to be a long-term systemic issue.”
Angus Pearson 潘雅贵's insight:

Based on the stats cited in this article, US corporate bond inventory harboured by the primary dealer banks has fallen from a pre-crunch peak of 55% of bonds in issuance, to a current level of 6%. It is worth pointing out, however, that it is still possible to keep cycling even if you shift to a less optimal gear. The banks are doing this, in that since the crunch, their fixed income revenues have been remarkably bouyant in spite of the downward trend in inventories. The banks are finding more efficient ways of making markets and facilitating client trades on the back of much reduced inventory levels. This is not to say that the market is functioning at all optimally overall. The buy side is definitely encountering liquidity problems in large trade sizes of corporate bonds. But as the industry searches for a better solution, (and a possible tipping point into a different market landscape even), it is wise to keep in mind the extent to which the banks are able to keep pedalling even in the face of a steeper gradient imposed by Basel III capital and liquidity ratios. 

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Systems of Engagement: IT Architecture in Transition

Systems of Engagement: IT Architecture in Transition | Financial Market eCommerce | Scoop.it
We have been talking for some time now about how enterprise IT is increasingly focusing on Systems of Engagement to complement what has traditionally been a Systems of Record function. Systems of
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Why Nothing — Not Even Software — Can Eat the World

Why Nothing — Not Even Software — Can Eat the World | Financial Market eCommerce | Scoop.it
Joseph Schumpeter — Eat your heart out!We are living in an era of "creative destruction" at a scale you could have never imagined. Hell, we can’t even imagine it! Everything is being vacuumed up into
Angus Pearson 潘雅贵's insight:

A characteristically Geoffrey Moore explanation of industry scale dynamics in the digital domain. If the Internet allows you to make it huge, (not just big), there will at some point (even in this frictionless world of bits) appear limits (and terms attached) to further expansion. - Very thought-provoking.

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The Scary and Amazing Future of Work

The Scary and Amazing Future of Work | Financial Market eCommerce | Scoop.it
Cubicles with low walls, open collaboration areas, desks and computers assigned as you show up for work. If you need to hold a private meeting or make a personal phone call, you reserve a conference
Angus Pearson 潘雅贵's insight:

This is an interesingly forward-looking article. I think the most exciting aspect of the changing work environment is the broadening scope of enterprise IT to cover not just 'systems of record', but also 'systems of engagement' (-credit to Geoffrey Moore here). Via systems of engagement, apps which are now common in the consumer/social media domain are being adapted for the organisation, particularly its neglected middle layers. There is a cliche that workers in an organisation are treated like 'mushrooms' (i.e. kept in the dark and dumped on). The thing about mushrooms however, is that they are interconnected by life-sustaining rhizomes hidden from view underneath all that, shall we say, fertilizer. Through systems of engagement, enterprise IT is increasingly channelling and motivating that connectedness. There's every reason to think that for many, work can become more fun and engaging on the way to our eventual burn-out!

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Digital Footprints: The Journey from Business Intelligence to Analytics

Digital Footprints: The Journey from Business Intelligence to Analytics | Financial Market eCommerce | Scoop.it
Big Data and Analytics are still a hot ticket, both in the venture community and in the IT budgets of selected verticals—including any of the e-commerce enterprises competing directly with Amazon,
Angus Pearson 潘雅贵's insight:

I like this concise distinction between 'noun' focused (or descriptive) Business Intelligence, and 'verb' focused (or predictive) Big Data Analytics. I agree that the scalability laws that apply to the Big Data domain will produce winner-takes-almost-all results, just like in other areas of digitally-enabled activity, where the real-world limitations of time and distance have been collapsed. Where does this leave those that are not the winners? I agree, the uninitiated could well be grasping at straws, but there remains lots of room for (initiated) innovators to identify and exploit gaps with fractals of their own, especially when it comes to tailoring and optimizing the application/delivery/exploitation of Big Data Analytics.

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Webinar: The Value of Swaps Data :: TabbFORUM - Where Capital Markets Speak

Webinar: The Value of Swaps Data :: TabbFORUM - Where Capital Markets Speak | Financial Market eCommerce | Scoop.it
Trade reporting was mandated so that regulators might surveil the global swaps market for systemic risks. But what started out as a compliance function for market participants has since become a matter of intense commercial interest.
Angus Pearson 潘雅贵's insight:

Swap data - A huge amount of it is now being sent to numerous SDRs (Swap Data Repositories). The data's subsequent organisation, storage and disposal remains far from standardised. This leaves considerable scope for innovative companies to disentangle the cat's cradle and arrange the data in formats that firms can use and pay for.

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European Liquidity in Focus - Markets Media

European Liquidity in Focus - Markets Media | Financial Market eCommerce | Scoop.it
European fund managers have been shifting trading to the afternoon due to a lack of liquidity in the region in … →
Angus Pearson 潘雅贵's insight:

Liquidity shortages are fascinating puzzles. Because so many variables are involved, and their interplay so complex, the search for the optimal lowest-friction process for matching buyers and sellers can be elusive and subtle. However, I am confident that significant breakthroughs are not far out of reach.

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