In this episode Chris Barnes focuses on the Q3 2024 adoption of Risk-Free Rates (RFRs). He'll share key takeaways like the 60-70-30 market split, explore the evolving dynamics of SOFR and €STR trading, and understand the broader implications for market stability and transparency.
\n\nIn this episode Chris Barnes discusses pre-hedging in swaps with Mark Bell. They explore a recent FICC Markets Standards Board (FMSB) paper that sheds light on this area, emphasizing its distinction from front running. Chris breaks down the standards that FMSB proposes for balancing client transparency with efficient trading, while Mark discusses the role of post-trade data transparency in shaping market practices.
\n\nION #IONMarkets #ClarusFT #FinancialMarkets #ClarusBlog #PreHedging #SwapsTrading #MarketTransparency #FMSBStandards #TradingInsights
","summary":"ION Markets Quick Takes is a weekly podcast that Chris Barnes and Mark Bell from ClarusFT, take a quick dive into the headlines on the Clarus blog.","date_published":"2024-11-11T17:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/fde1a2ac-8d31-4872-99f5-7cdf8d4f2f9c.mp3","mime_type":"audio/mpeg","size_in_bytes":14255557,"duration_in_seconds":593}]},{"id":"c781fdee-35cc-403e-b811-a0dadb44614e","title":"Episode 78: Artificial Intelligence: Regulation and Expanding Role in Asset Management","url":"https://marketsconversation.fireside.fm/78","content_text":"On today’s episode, Adrian Turton from ION's Asset Management will discuss how AI’s role in asset management is improving decision-making, driving efficiency, and we’ll talk about the challenges of regulation and data privacy.\n\nHe will share with us his take into the future of AI in finance and offer practical advice for asset managers adopting this technology. \n\nION #IONMarkets #AIFinance #AssetManagement #AIFuture #DataPrivacy #AIRegulation #FinTechTrends","content_html":"On today’s episode, Adrian Turton from ION's Asset Management will discuss how AI’s role in asset management is improving decision-making, driving efficiency, and we’ll talk about the challenges of regulation and data privacy.
\n\nHe will share with us his take into the future of AI in finance and offer practical advice for asset managers adopting this technology.
\n\nIn today's regulatory landscape, selecting the right technology is vital for ensuring compliance and operational efficiency. We'll dive into the benefits and challenges of both options, covering aspects like customization, security, scalability, flexibility, and cost-effectiveness.
\n\nSteven Strange and Tim Flinders will discuss key considerations for asset managers, including regulatory requirements and internal IT capabilities, to make an informed decision. Whether you're a small firm aiming to scale or a large organization prioritizing robust security measures, this episode offers valuable insights to enhance your compliance strategy.
\n\nOn today's episode Chris Barnes discusses the evolving landscape of Non-Deliverable Forward (NDF) markets, touching on the significant trends and challenges, including data reconciliation from the CFTC swaps report, the impact of clearing mandates, and the steady rise of cleared market volumes. With over $2 trillion in open interest for NDFs, this episode explores the nuances of a market still dominated by dealer activity, and the potential for future client growth.
\n\nION #IONMarkets #ClarusFT #FinancialMarkets #ClarusBlog #NDFClearing #FXMarkets #ClearingMandates #CFTCSwapsReport #OpenInterest
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-10-14T15:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/15ec253c-9216-41d2-9f8b-876278107152.mp3","mime_type":"audio/mpeg","size_in_bytes":15173049,"duration_in_seconds":631}]},{"id":"47ca7839-5caa-4b9f-bb7b-43615c2f986d","title":"Episode 75: The rise of ETFs in India","url":"https://marketsconversation.fireside.fm/75","content_text":"With increasing Assets Under Management, the number of funds, and traded volumes, the ETF market in India is booming. Sandeep Sabnani and Anil Ghelani will share their perspectives on the factors driving this growth, the challenges faced by asset managers, and the technological solutions on the horizon. It will be an exciting episode through the evolving landscape of ETFs in India.\n\n#ION #IONMarkets #Equities ","content_html":"With increasing Assets Under Management, the number of funds, and traded volumes, the ETF market in India is booming. Sandeep Sabnani and Anil Ghelani will share their perspectives on the factors driving this growth, the challenges faced by asset managers, and the technological solutions on the horizon. It will be an exciting episode through the evolving landscape of ETFs in India.
\n\n#ION #IONMarkets #Equities
","summary":"Sandeep Sabnani from ION Markets and Anil Ghelani from DSP Investment Managers will discuss the remarkable growth of Exchange-Traded Funds (ETFs) in India.","date_published":"2024-10-11T15:30:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/47ca7839-5caa-4b9f-bb7b-43615c2f986d.mp3","mime_type":"audio/mpeg","size_in_bytes":35418887,"duration_in_seconds":1474}]},{"id":"6d7713b0-5d8b-48cf-9bd7-5e7e60bebdbb","title":"Episode 74: Quick Takes: USD Rates — What's new?","url":"https://marketsconversation.fireside.fm/74","content_text":"On today's episode Chris Barnes discusses the significant movements in dollar rates, with August 2024 marking a record-breaking month—averaging $1.68 trillion in daily trading volume. Chris and Amir will delve into key trends across treasury bonds, futures, and swaps, examining the factors driving these shifts and their implications for market participants. \n\nION #IONMarkets #ClarusFT #FinancialMarkets #ClarusBlog #DollarRatesUpdate #MarketTrends #TreasuryTrading #BondFutures #FinancialInsights #USRatesAnalysis #TradingVolumes","content_html":"On today's episode Chris Barnes discusses the significant movements in dollar rates, with August 2024 marking a record-breaking month—averaging $1.68 trillion in daily trading volume. Chris and Amir will delve into key trends across treasury bonds, futures, and swaps, examining the factors driving these shifts and their implications for market participants.
\n\nION #IONMarkets #ClarusFT #FinancialMarkets #ClarusBlog #DollarRatesUpdate #MarketTrends #TreasuryTrading #BondFutures #FinancialInsights #USRatesAnalysis #TradingVolumes
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-10-07T17:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/6d7713b0-5d8b-48cf-9bd7-5e7e60bebdbb.mp3","mime_type":"audio/mpeg","size_in_bytes":14624545,"duration_in_seconds":608}]},{"id":"77c38ab5-d871-4047-beef-845c00e5f879","title":"Episode 73: Quick Takes: What's new in CCP disclosures — 2Q 2024?","url":"https://marketsconversation.fireside.fm/73","content_text":"In this episode Amir Khwaja discusses the quarterly disclosures from central counterparties (CCPs), highlighting key metrics like default resources, margin requirements, and liquidity. Amir will explore notable data points and trends from the second quarter of 2024, offering transparency and critical insights into the evolving landscape of CCPs.\n\nION #IONMarkets #ClarusFT #FinancialMarkets #ClarusBlog #CCPDisclosures #ClearinghouseUpdates #FinancialMarkets #RiskManagement #MarketTransparency #CCPView","content_html":"In this episode Amir Khwaja discusses the quarterly disclosures from central counterparties (CCPs), highlighting key metrics like default resources, margin requirements, and liquidity. Amir will explore notable data points and trends from the second quarter of 2024, offering transparency and critical insights into the evolving landscape of CCPs.
\n\nIn this episode Chris Barnes discusses the volatility that gripped markets in August. He and Amir Khwaja explore the difference between volatile and stressed trading conditions, highlighting record-breaking volumes and the unique factors influencing recent market moves. With insights on the Fed's recent actions, equity markets, and the impact of the upcoming U.S. election, Chris shares a comprehensive look at the current state of trading.
\n\nThis week Chris Barnes dives into the latest updates on the GBP swaps market, highlighting key developments such as record volumes in Sterling SONIA futures, the impact of the UK general election, and the Bank of England's influence on the market. He and Amir explore the surprising rise in trading volumes this summer, despite traditionally quieter months, and discuss how new trends like SEF trading are shaping the future of Sterling swaps.
\n\nEugene Markman and Paul Houston explore the latest trends and innovations in the foreign exchange (FX) markets. They discuss the integration of FX cash and futures platforms at CME, the development of new products like Spot+, and the challenges of navigating a fragmented and increasingly digital marketplace. The conversation also touches on the role of automation, AI, and blockchain in shaping the future of FX trading, offering insights into how these advancements will impact workflows and market efficiency.
\n\nWe'll learn how cutting-edge algorithms are slashing false positives, boosting operational efficiency, and providing unprecedented insights into trading patterns. Marco will help us understand the balance between ML-powered analysis and human expertise, and tackle the critical question: Can we trust the machines to safeguard our markets?
\n\nhis week Chris discusses the latest insights into Risk-Free Rate (RFR) adoption in Q2 2024. He also dives into the shift from traditional IBOR benchmarks to risk-free rates, highlighting key figures: 60% of global trading now references RFRs, with 80% of U.S. dollar trades using SOFR and 30% of Euro trades using €STR. Chris and Amir also discuss the significant progress in the Canadian market and future outlooks for other currencies like the Swedish and Norwegian krona.
\n\nThis week Amir discusses the newly released Hedge Fund Monitor by the Office of Financial Research, a tool that brings clarity to the hedge fund sector through 84 detailed charts. The conversation covers the growth of hedge funds, the increasing leverage within the sector, and the complexities of OTC derivatives. Tune in for a quick yet informative dive into the trends shaping the hedge fund landscape.
\n\nBruce and Stephen will explore how the market is changing with current Exchanges moving into new products and New Exchanges coming to the market. We’ll discuss the benefits to the market and its participants, and what are some keys to success for New Exchanges.
\n\nThey wrap up the discussion by exploring how established exchanges and clearinghouses play a pivotal role in transforming the dynamics of the Derivatives markets.
\n\nThis week Chris discusses swaption volumes and market trends in Q2 2024. He takes us through the latest data on swaption trading, focusing on the impact of recent market volatility and changes in reporting standards. Chris and Amir delve into the complexities of the swaption market, including the challenges in identifying straddles and the significance of heat maps in visualizing trading activity. Whether you're new to swaptions or a seasoned market participant, this episode offers valuable perspectives on a niche yet critical segment of the financial markets.
\n\nThis week Chris delves into the latest developments in the CAD swaps market. The discussion centers around the transition from CDOR to CORRA, the complexities and nuances of the Canadian swaps market, and the significant impact of this change on market dynamics.
\n\nChris provides an insightful analysis of how the Canadian market has adapted smoothly to this transition, with a particular focus on the growth of SEF trading and the implications for future market trends.
\n\nThis week Amir discusses focuses on the second quarter of 2024 CCP volumes and market share in interest rate derivatives (IRD). Amir highlights significant trends, such as record-breaking volumes in sterling SONIA swaps and yen TONA swaps, and the impacts of global economic conditions on swap markets. The discussion also touches on the stability of market share among clearinghouses, the influence of volatility on trading volumes, and the potential revenue implications for CCPs.
\n\nON #IONMarkets #ClarusFT #FinancialMarkets #ClarusBlog #InterestRateDerivatives #CCPVolumes #SwapMarketTrends #FinancialAnalysis #MarketVolatility
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-08-13T10:45:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/7630b6ef-4f07-4bdc-ac27-41a68fbb19f6.mp3","mime_type":"audio/mpeg","size_in_bytes":12847112,"duration_in_seconds":534}]},{"id":"0f0a8c02-3bf4-4e13-8aa5-7a3fdd11df6d","title":"Episode 62: Quick Takes: A dummies guide to trading interest rate swaps","url":"https://marketsconversation.fireside.fm/62","content_text":"This week we have a special episode celebrating the 10th anniversary of Chris Barnes' first blog on the Clarus blog. Instead of our usual market and regulatory updates, Chris shares his personal journey and strategy from his time trading interest rate swaps.\n\nHe provides a detailed look into his trading principles, the importance of maintaining a structured approach, and his experience at major financial institutions like HSBC and State Street. Tune in to gain valuable insights into the world of trading interest rate swaps from an industry veteran. \n\nION #IONMarkets #ClarusFT #FinancialMarkets #ClarusBlog #InterestRateSwaps #TradingStrategy #PositiveCarry #RiskManagement","content_html":"This week we have a special episode celebrating the 10th anniversary of Chris Barnes' first blog on the Clarus blog. Instead of our usual market and regulatory updates, Chris shares his personal journey and strategy from his time trading interest rate swaps.
\n\nHe provides a detailed look into his trading principles, the importance of maintaining a structured approach, and his experience at major financial institutions like HSBC and State Street. Tune in to gain valuable insights into the world of trading interest rate swaps from an industry veteran.
\n\nIn this episode Amir Khwaja discusses the first quarter 2024 CCP disclosures. Amir walks us through the vast data collected from 44 clearinghouses, highlighting key changes and potential areas of concern. From initial margins to stress loss estimates, Amir provides an in-depth look at the critical metrics that shape our understanding of clearinghouse risk management.
\n\nIn this episode Chris Barnes discusses the health of the SOFR options market. Despite the transition from LIBOR, SOFR options have shown rapid development, nearly reaching the activity levels of the Eurodollar options market.
\n\nChris highlights the growth and transparency challenges in the options and swaptions markets, providing insights into the volumes, strikes, and underlying trends.
\n\nIn this episode, Chris Barnes leads an insightful discussion on JPY swap clearing and the reasons why dealers prefer the Japan Securities Clearing Corporation (JSCC). He also dives into the specifics of his latest blog post, which explores the nuances of transparency in yen swap markets and the structural differences between dealer-to-dealer transactions at JSCC and client volumes at LCH SwapClear.
\n\nStraight-through processing or STP, automates the end-to-end processing of FX trades, eliminating manual interventions and enabling near real-time execution and settlement. The adoption of STP in FX transactions offers significant advantages in terms of efficiency, accuracy, and cost savings.
\n\nAnne Marrero from ION Markets FX will help us understand recent advancements that promise to standardize and streamline global payment systems and how gauging the upside potential of STP in FX becomes increasingly important for market participants to remain competitive.
\n\nAnne Marrero is a product manager at ION Markets (FX). She has vast experience helping financial institutions in the capital markets achieve efficiency and scale through technological solutions.
\n\nIn this episode, Amir Khwaja will explore SOFR swaps SEF volumes for May 2024, examining key trends and insights in one of the largest products traded in the U.S. rates market.
\n\nAmir provides a detailed analysis of the trading volumes, market share, and competition among SEFs, highlighting new entries and significant trends. Chris brings a unique perspective on the numbers, offering a deeper understanding of the dynamics within the dealer-to-dealer and dealer-to-client markets.
\n\nIn this episode, Chris Barnes highlights the intriguing trends in FX clearing, focusing on why March consistently sees record volumes. He explores the impact of uncleared margin rules, the surprising growth in FX options clearing, and compares the developments with FX futures. Amir Khwaja joins the discussion, delving into the specifics of dealer trading and the broader implications for the market.
\n\nIn this episode, Chris Barnes discusses provides an analysis of the complexities and unique market structures within the Australian dollar swaps market. Despite global trends toward simplifying interest rate indices, the AUD market remains intricately diverse, trading multiple indices in varied and complicated ways.
\n\nChris also highlights the volatility in trading volumes, the impact of central bank activities, and the challenges of transitioning within this dynamic landscape.
\n\nIn this episode, Chris Barnes discusses the findings from the ISDA margin survey in his post "How Much Margin, The 2023 Edition?"
\n\nChris and Amir explore the evolution of uncleared initial margin since ISDA’s 2012 estimate of an additional $800 billion and how the industry has adapted over the years. Chris highlights the staggering growth in total initial margin and the factors contributing to this increase. Amir also shares insights into the tools and methodologies available for firms to manage and optimize their margins effectively.
\n\nIn this episode, Amir analyzes data from the SEC's trade repository, highlighting the most active credit default swaps (CDS) for both sovereign and corporate names along with the fluctuating rankings of companies like Goodyear Tire, Royal Caribbean Cruises, TransOcean, and Avis Budget.
\n\nChris adds a macro perspective on U.S. credit ratings, considering potential political impacts and the importance of monitoring CDS activity, especially as elections approach. They also discuss the challenges in CDS price transparency and market structure, including the predominance of bilateral trades over cleared trades.
\n\nOn today’s episode we explore the world of regulatory compliance for non-bank financial intermediaries or (NBFIs) and buy-side firms.
\n\nIn an era of increased regulatory scrutiny, NBFIs are facing growing demands for transparency and risk management, while buy-side firms are grappling with evolving best execution standards and order handling requirements.
\n\nSteven Strange from ION Markets will help us understand some of the regulatory and compliance challenges faced by industry players and strategies that you can employ to help you stay ahead in an environment of regulatory change.
\n\nEugene Markman from ION Markets and his special guest Colin Lambert from The Full FX will share highlights of the recently held FX conference in Copenhagen, The Full FX Scandinavia 2024.
\n\nWe’ll get a quick overview of the FX trade event as well as dive into event highlights, key themes and topics, notable speakers, and highlight the main insights and trends discussed.
\n\nIn this episode, we dive into the changing landscape of retail trading in Europe. We'll explore how regulators are suppressing complex instruments like CFDs, forcing brokers to adapt. This shift could open the door for listed derivatives markets, traditionally dominated by institutional investors.
\n\nBruce and Will discuss the challenges and opportunities for retail brokers as they navigate this new environment. We'll also examine how established institutional players might be impacted by this influx of new retail activity.
\n\nBruce Roberts is part of the global management team in cleared derivatives and global business development at ION.
\n\nWill Mitting is the founder and CEO of Acuiti, a research platform that provides insights and operational trends on cleared derivatives.
\n\nIn this episode, Chris discusses a seemingly contradictory blog title, "All You Need to Know to Avoid the Trade Execution Requirement?" and clarifies that Clarus Financial Technology does not recommend avoiding such requirements.
\n\nThe discussion dives into MAT (Made Available to Trade) requirements and explores why some swaps flagged for mandatory SEF (Swap Execution Facility) trading end up being traded off-SEF. The episode also touches on the ongoing debate about the necessity of MAT and the role of SEFs in the market.
\n\nIn this episode, Chris Barnes discusses his recent blog post, "What's New in Yen Swaps in 2024." The blog post covers four key topics:
\n\nChris Barnes finds the volatility in the CCP basis to be particularly interesting, as it's not well-understood and there's little transparency into the market.
\n\nIn this episode, Amir discusses CCP (clearing counterparty) volumes and market share in the interest rate derivatives (IRD) market for the first quarter of 2024.
\n\nAmir also delves into his process for creating the blog posts. He emphasizes the value of manually analyzing the data, even though automation could be used. He also talks about how he is slowing treading into using AI to help summarize the data.
\n\nIn this episode, Chris discusses the €STR futures market share battle and the unexpected impact of the March IMM roll on open interest. Despite the timing challenge, the €STR futures market has seen significant growth, signaling its establishment as a major player in just a short time.
\n\nIn this episode, Chris Barnes dives deep into the world of Credit Support Annexes (CSAs) and their influence on derivatives portfolio valuation. Ever wondered why seemingly minor details like currency variations can impact your portfolio? Chris breaks it all down, explaining the mechanics of CSAs and their role in shaping trading strategies.
\n\nAdrian will delve into the key provisions of FSMA 2023, particularly those impacting areas like ESG data management and digital assets. We'll discuss these critical developments and their implications for asset management professionals in the UK.
\n\nAdrian Turton is a financial services and technology expert with over 25 years of experience. Currently, he works as a Connectivity Product Manager (Asset Management) at ION.
\n\nWith a proven track record of successfully implementing new initiatives and driving revenue growth through key account relationships and strategic partnerships, Adrian is a true asset to any team. He's an expert at translating business needs into technical specifications and ensuring that each issue is addressed and delivered to the highest standard. With his team-based management style and excellent communication skills, Adrian is the go-to person for strong client-facing, project and product management.
\n\nAt ION, he is the Product Manager/Business Analyst for Connectivity, EMS and AMS offerings, ensuring that the correct issues are being addressed, and that each issue meets the requirements for delivery. Adrian is also responsible for managing the connectivity layer for ION LatentZero (Asset Management), including all interfaces to third parties, FIX connectivity and messaging components.
\n\nAdrian's passion for technology and unwavering dedication to achieving business success makes him a true powerhouse in the financial services industry.
","summary":"In this episode, Adrian Turton from ION's Asset Management division will discuss how the regulatory landscape is undergoing a significant transformation with the implementation of the Financial Services and Markets Act of 2023 (FSMA 2023). ","date_published":"2024-04-08T11:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/e73fc783-027d-444e-a472-33a4812e465c.mp3","mime_type":"audio/mpeg","size_in_bytes":24140236,"duration_in_seconds":1005}]},{"id":"d3186470-d779-44be-a0ac-3b018fc1092c","title":"Episode 43: Quick Takes: What’s New in CCP Disclosures – 4Q23?","url":"https://marketsconversation.fireside.fm/43","content_text":"In this episode, Amir Khwaja discusses his blog post \"What's New in CCP Disclosures 4Q 2023.\" He and Chris delve into CCP disclosures, which reveal key metrics like initial margin held by clearing houses, offering insights into market risk. They also touch on default funds and the crucial role they play in mitigating risk.\n\nION #IONMarkets #ClarusFT #FinancialMarkets #CCP #clearinghouse #CCPdisclosures #initialmargin #riskmanagement","content_html":"In this episode, Amir Khwaja discusses his blog post "What's New in CCP Disclosures 4Q 2023." He and Chris delve into CCP disclosures, which reveal key metrics like initial margin held by clearing houses, offering insights into market risk. They also touch on default funds and the crucial role they play in mitigating risk.
\n\nIn this episode, Chris dives into the world of variation margin, an important topic in the derivatives industry. He discusses the challenges of intraday margin calls and the lack of standardization across CCPs. Amir joins in to discuss the return of funds and they debate the need for clearer practices. Hear their insights and why Chris Barnes hopes this won't be his last podcast!
\n\nIn this episode, Amir dives into the world of SEF (Swap Execution Facility) volumes and market share. Amir and Chris share their key takeaways from a recent blog post on SOFR swaps. The conversation explores the differences between dealer-to-dealer (D2D) and dealer-to-client (D2C) trading, with a focus on spreadover trades and how they are executed. The episode also touches on the potential impact of high-frequency trading on the SEF landscape.
\n\n#ION #IONMarkets #ClarusFT #FinancialMarkets #SEFvolumes #SOFRSwap #D2DvsD2C #TradingAnalysis #Treasuries #Spreadovers
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-03-19T13:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/872ec65a-9ace-4846-bf45-3aa639c20e9f.mp3","mime_type":"audio/mpeg","size_in_bytes":11743640,"duration_in_seconds":488}]},{"id":"9b7bcc66-e700-4ec9-89bb-3b5aaca941e5","title":"Episode 40: Quick Takes: Could “enshittification” happen in derivatives markets?","url":"https://marketsconversation.fireside.fm/40","content_text":"In this episode, Chris Barnes references the FT article that introduced us to “enshittification,” which has no doubt made the rounds of trading floors ever since. Chris will also discuss the following points:\n\nIs “enshittification” of social media akin to worsening liquidity conditions in financial markets as a result of increased rent-seeking behaviour of centralised platforms?\nWe see ever increasing volumes traded in Rates markets, and yet constant concerns from market participants over liquidity conditions.\nPost-trade transparency shines a light on market functioning, but does not define liquidity metrics or the cost of liquidity provision.\nDoes this all make Citadel the Taylor Swift of modern markets?\n\n#ION #IONMarkets #ClarusFT #FinancialMarkets #Liquidity #Citadel #Trading #MarketEfficiency #Enshittification\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Chris Barnes references the FT article that introduced us to “enshittification,” which has no doubt made the rounds of trading floors ever since. Chris will also discuss the following points:
\n\nIs “enshittification” of social media akin to worsening liquidity conditions in financial markets as a result of increased rent-seeking behaviour of centralised platforms?
\nWe see ever increasing volumes traded in Rates markets, and yet constant concerns from market participants over liquidity conditions.
\nPost-trade transparency shines a light on market functioning, but does not define liquidity metrics or the cost of liquidity provision.
\nDoes this all make Citadel the Taylor Swift of modern markets?
#ION #IONMarkets #ClarusFT #FinancialMarkets #Liquidity #Citadel #Trading #MarketEfficiency #Enshittification
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"\r\nION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-03-11T13:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/9b7bcc66-e700-4ec9-89bb-3b5aaca941e5.mp3","mime_type":"audio/mpeg","size_in_bytes":15006932,"duration_in_seconds":624}]},{"id":"def6b205-d42b-475a-ba35-4f470592874d","title":"Episode 39: Quick Takes: USD rates overview in 2024","url":"https://marketsconversation.fireside.fm/39","content_text":"In this episode, Chris Barnes discusses key takeaways from his blog post \"Dollar Rates Overview in 2024,\" which analyzes 2023 data. The discussion highlights two main points:\n\nEuro swaps have surpassed dollar swaps in volume: This shift is attributed to the transition away from LIBOR in the dollar market, while the Euro market continues to trade with multiple indices.\n\nOverall rates market volume has grown significantly: This growth is partly due to the inclusion of U.S. Treasury bond data, allowing for a more comprehensive comparison across swaps, futures, and cash instruments. While future volume growth is expected to outpace other segments, the overall market is anticipated to see a decrease in 2024 compared to the record highs of 2023.\n\n#ION #IONMarkets #ClarusFT ##EuroSwapsSurpassDollars #LIBORTransitionImpact #USRatesMarketGrowth #TransparencyInMarketData\n\nDollarRatesOverview2024\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Chris Barnes discusses key takeaways from his blog post "Dollar Rates Overview in 2024," which analyzes 2023 data. The discussion highlights two main points:
\n\nEuro swaps have surpassed dollar swaps in volume: This shift is attributed to the transition away from LIBOR in the dollar market, while the Euro market continues to trade with multiple indices.
\n\nOverall rates market volume has grown significantly: This growth is partly due to the inclusion of U.S. Treasury bond data, allowing for a more comprehensive comparison across swaps, futures, and cash instruments. While future volume growth is expected to outpace other segments, the overall market is anticipated to see a decrease in 2024 compared to the record highs of 2023.
\n\n#ION #IONMarkets #ClarusFT ##EuroSwapsSurpassDollars #LIBORTransitionImpact #USRatesMarketGrowth #TransparencyInMarketData
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-03-05T09:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/def6b205-d42b-475a-ba35-4f470592874d.mp3","mime_type":"audio/mpeg","size_in_bytes":12353082,"duration_in_seconds":514}]},{"id":"851818c3-9818-4694-ab65-5ff875758dab","title":"Episode 38: TradeTech FX USA recap","url":"https://marketsconversation.fireside.fm/38","content_text":"Recap TradeTech FX USA event with highlights, key themes and topics, insights from interviews, noteworthy perspectives from industry experts, mention showcased technologies, event audience feedback and reactions along with reflections on the event.\n\nION #IONFX #TradeTechFXUSA\n\nEugene Markman\nEugene Markman is chief executive officer of MarketFactory and chief operations officer of ION Markets (FX).\n\nEugene joined MarketFactory in 2014 and served as chief operating officer and vice president of finance before being appointed CEO. He played an instrumental role in the company's growth, resulting in ION acquiring MarketFactory in 2019.\n\nPrior to MarketFactory, Eugene was chief operating officer of the US interest rates product desk at Credit Suisse in New York and Switzerland.\n\nHe earned a bachelor's degree in financial economics from Binghamton University and a master's degree from the NYU Stern School of Business.\n\nStephen Bruel\n\nStephen joined Coalition Greenwich to head up the Derivatives and FX practice within the Market Structure and Technology team. He brings over 25 years of experience in the financial services industry to the role.\n\nPrior to joining Greenwich, Stephen was a Vice President and head of Derivatives Product Management at Brown Brothers Harriman. He was responsible for defining BBH’s derivatives strategy, which included product development and prioritization of capital and technology investments.\n\nHe joined BBH in 2011, prior to which he was a research director in TowerGroup’s Securities and Investment practice. He analyzed business strategy and technology trends in the securities industry, with a particular emphasis on derivatives. He has also worked at State Street and Citi in a variety of operations, project, and technology management roles.","content_html":"Recap TradeTech FX USA event with highlights, key themes and topics, insights from interviews, noteworthy perspectives from industry experts, mention showcased technologies, event audience feedback and reactions along with reflections on the event.
\n\nEugene Markman
\nEugene Markman is chief executive officer of MarketFactory and chief operations officer of ION Markets (FX).
Eugene joined MarketFactory in 2014 and served as chief operating officer and vice president of finance before being appointed CEO. He played an instrumental role in the company's growth, resulting in ION acquiring MarketFactory in 2019.
\n\nPrior to MarketFactory, Eugene was chief operating officer of the US interest rates product desk at Credit Suisse in New York and Switzerland.
\n\nHe earned a bachelor's degree in financial economics from Binghamton University and a master's degree from the NYU Stern School of Business.
\n\nStephen Bruel
\n\nStephen joined Coalition Greenwich to head up the Derivatives and FX practice within the Market Structure and Technology team. He brings over 25 years of experience in the financial services industry to the role.
\n\nPrior to joining Greenwich, Stephen was a Vice President and head of Derivatives Product Management at Brown Brothers Harriman. He was responsible for defining BBH’s derivatives strategy, which included product development and prioritization of capital and technology investments.
\n\nHe joined BBH in 2011, prior to which he was a research director in TowerGroup’s Securities and Investment practice. He analyzed business strategy and technology trends in the securities industry, with a particular emphasis on derivatives. He has also worked at State Street and Citi in a variety of operations, project, and technology management roles.
","summary":"Eugene Markman and Stephen Bruel will recap the recent TradeTech FX USA event in Miami with highlights, key themes, and topics as well as discussing shared insights from interviews and noteworthy perspectives from industry experts. They will close the episode by sharing their thoughts and overall take on the conference. ","date_published":"2024-03-01T12:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/851818c3-9818-4694-ab65-5ff875758dab.mp3","mime_type":"audio/mpeg","size_in_bytes":40508232,"duration_in_seconds":1687}]},{"id":"e4a5ed66-d5d2-48b5-99e5-8e57ae15e2ad","title":"Episode 37: Quick Takes: Swaps Compression: What is it and why is it important?","url":"https://marketsconversation.fireside.fm/37","content_text":"In this episode, Amir returns to the podcast to highlight a guest blog post featured on the ION Markets Blog. Swaps Compression reduces the volume of open trades in Swap and other OTC derivatives portfolios. What is it? What are the benefits? Why is it important?\n\nThe post is an introduction to Swaps Compression, for those not familiar with this or just needing a refresher, Amir will highlight the key points.\n\nION #IONMarkets #ClarusFT #SwapsCompression #Swap #OTCDerivatives\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Amir returns to the podcast to highlight a guest blog post featured on the ION Markets Blog. Swaps Compression reduces the volume of open trades in Swap and other OTC derivatives portfolios. What is it? What are the benefits? Why is it important?
\n\nThe post is an introduction to Swaps Compression, for those not familiar with this or just needing a refresher, Amir will highlight the key points.
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-02-20T15:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/e4a5ed66-d5d2-48b5-99e5-8e57ae15e2ad.mp3","mime_type":"audio/mpeg","size_in_bytes":14549249,"duration_in_seconds":605}]},{"id":"c69e6aa0-eb16-4d0f-974a-062c3ab6ff90","title":"Episode 36: Quick Takes: Cross Currency Swaps Review 2023","url":"https://marketsconversation.fireside.fm/36","content_text":"In this episode, Chris goes solo once again and shares some optimistic stats. \n\n\nWhy there are more cross currency swaps traded in 2023 than ever before.\nHow 2023 saw 15% more swaps trade than in 2022, which itself was a record year.\nWhy trade counts have grown by at least 10% every year since 2018.\n\n\n#ION #IONMarkets #ClarusFT #CrossCurrencySwaps #Optimism2024 #SDRViewVolumes\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Chris goes solo once again and shares some optimistic stats.
\n\n#ION #IONMarkets #ClarusFT #CrossCurrencySwaps #Optimism2024 #SDRViewVolumes
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-02-13T10:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/c69e6aa0-eb16-4d0f-974a-062c3ab6ff90.mp3","mime_type":"audio/mpeg","size_in_bytes":13221825,"duration_in_seconds":550}]},{"id":"7cbd4abf-84ed-4dc7-a3a9-632bd6915889","title":"Episode 35: Quick Takes: Can the UK get transparency right?","url":"https://marketsconversation.fireside.fm/35","content_text":"In this episode, Chris goes solo to highlight the UK rules for pre- and post-trade transparency that were largely inherited from MIFID II post-Brexit.\n\nHe will explain to those who are not familiar with MIFID II transparency why it doesn't work and why after 15 years after the G20 “commitment” to reform OTC derivative markets, we still have no transparency in Europe. Also, he shares his thoughts on why the US continues to set the gold standard for capital markets.\n\nION #IONMarkets #ClarusFT #MIFIDII #ClearingMandates #CFA #ConsultationPaperPC2332 #ISINs\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.Links:MiFID IIOTC","content_html":"In this episode, Chris goes solo to highlight the UK rules for pre- and post-trade transparency that were largely inherited from MIFID II post-Brexit.
\n\nHe will explain to those who are not familiar with MIFID II transparency why it doesn't work and why after 15 years after the G20 “commitment” to reform OTC derivative markets, we still have no transparency in Europe. Also, he shares his thoughts on why the US continues to set the gold standard for capital markets.
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
Links:
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-02-06T11:30:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/7cbd4abf-84ed-4dc7-a3a9-632bd6915889.mp3","mime_type":"audio/mpeg","size_in_bytes":16392528,"duration_in_seconds":682}]},{"id":"7f076001-33f7-476a-88ce-2b86c920d0f2","title":"Episode 34: Strategic Workforce Development: Talent and Technology","url":"https://marketsconversation.fireside.fm/34","content_text":"Clearing services firms face a challenging balancing act. For years, talent has been lured away by trading firms, hedge funds, and the sky-high tech salaries. Meanwhile, financial reforms and cost pressures have shrunk headcount, leaving firms struggling with operational risks and a looming skill gap.\n\nBruce and Will discuss why this is happening and how firms can overcome hiring hurdles and how to build a future-proof workforce.\n\nBruce Roberts is part of the global management team in cleared derivatives and global business development at ION.\n\nWill Mitting is the founder and CEO of Acuiti, a research platform that provides insights and operational trends on cleared derivatives. \n\nION #IONMarkets #ClearedDerivatives #WorkforceDevelopment #FinancialServices #Technology\n\nBRUCE ROBERTS, ION\n\nBruce joined ION as part of the Global Management and Head of Business Development for Cleared Derivatives. He joined ION Markets from Cognizant where he worked in business development and consulting across Capital Markets. Prior to this, Bruce worked at UBS in Zurich and London for 20 years and was a Managing Director. During his tenure, he was responsible for Reference Data Management, Collateral and Margin Management, Derivatives (Cleared and OTC) and Securities Operations.\n\nWILL MITTING, ACUITI\n\nWill founded Acuiti in February 2019. Building on 15 years’ experience in B2B publishing, he launched Acuiti to bring greater transparency to operations across the global derivatives market. Will was previously Managing Director of FOW and Global Investor Group at Euromoney International Investor plc. He has previously worked at Haymarket Media Group and also worked in Malawi where he launched the first magazine publishing business in the Northern Region of the country.","content_html":"Clearing services firms face a challenging balancing act. For years, talent has been lured away by trading firms, hedge funds, and the sky-high tech salaries. Meanwhile, financial reforms and cost pressures have shrunk headcount, leaving firms struggling with operational risks and a looming skill gap.
\n\nBruce and Will discuss why this is happening and how firms can overcome hiring hurdles and how to build a future-proof workforce.
\n\nBruce Roberts is part of the global management team in cleared derivatives and global business development at ION.
\n\nWill Mitting is the founder and CEO of Acuiti, a research platform that provides insights and operational trends on cleared derivatives.
\n\nBRUCE ROBERTS, ION
\n\nBruce joined ION as part of the Global Management and Head of Business Development for Cleared Derivatives. He joined ION Markets from Cognizant where he worked in business development and consulting across Capital Markets. Prior to this, Bruce worked at UBS in Zurich and London for 20 years and was a Managing Director. During his tenure, he was responsible for Reference Data Management, Collateral and Margin Management, Derivatives (Cleared and OTC) and Securities Operations.
\n\nWILL MITTING, ACUITI
\n\nWill founded Acuiti in February 2019. Building on 15 years’ experience in B2B publishing, he launched Acuiti to bring greater transparency to operations across the global derivatives market. Will was previously Managing Director of FOW and Global Investor Group at Euromoney International Investor plc. He has previously worked at Haymarket Media Group and also worked in Malawi where he launched the first magazine publishing business in the Northern Region of the country.
","summary":"Bruce Roberts from ION Markets and Will Mitting from Acuiti will discuss how the demand for experienced clearing professionals is surging and how technology can help firms overcome the hiring hurdles and build a future-proof workforce.","date_published":"2024-02-02T12:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/7f076001-33f7-476a-88ce-2b86c920d0f2.mp3","mime_type":"audio/mpeg","size_in_bytes":30059044,"duration_in_seconds":1251}]},{"id":"bf0c82c6-21fc-4fb5-b2a5-403a1dbaae62","title":"Episode 33: Quick Takes: 2023 CCP Volumes and Share in IRD","url":"https://marketsconversation.fireside.fm/33","content_text":"In this episode, Amir goes solo to discuss 2023 volumes and market share for OTC Derivatives in Interest Rates reported by Clearing House.\n\nHe will highlight how the Clarus CCPView daily volume and open interest data published by each CCP, is filtered, normalized and aggregated to allow meaningful analysis and comparisons.\n\nContents:\n\nUSD Swaps (LIBOR, FF, SOFR)\nEUR Swaps (EURIBOR, €STR)\nGBP Swaps (LIBOR, SONIA)\nJPY Swaps (IBOR, TONA)\nAUD Swaps (BBSW, AONIA)\nCAD Swaps (CDOR, CORRA)\nEMEA Swaps\nAsiaPac Swaps\nLatAm Swaps\n\n#ION #IONMarkets #ClarusFT #CCPVolumes #2023MarketShare #LIBOR #SOFR #IRD\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Amir goes solo to discuss 2023 volumes and market share for OTC Derivatives in Interest Rates reported by Clearing House.
\n\nHe will highlight how the Clarus CCPView daily volume and open interest data published by each CCP, is filtered, normalized and aggregated to allow meaningful analysis and comparisons.
\n\nContents:
\n\nUSD Swaps (LIBOR, FF, SOFR)
\nEUR Swaps (EURIBOR, €STR)
\nGBP Swaps (LIBOR, SONIA)
\nJPY Swaps (IBOR, TONA)
\nAUD Swaps (BBSW, AONIA)
\nCAD Swaps (CDOR, CORRA)
\nEMEA Swaps
\nAsiaPac Swaps
\nLatAm Swaps
#ION #IONMarkets #ClarusFT #CCPVolumes #2023MarketShare #LIBOR #SOFR #IRD
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-01-29T11:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/bf0c82c6-21fc-4fb5-b2a5-403a1dbaae62.mp3","mime_type":"audio/mpeg","size_in_bytes":10372720,"duration_in_seconds":431}]},{"id":"fdcab861-b6cb-4c9d-9101-0cbf6371950b","title":"Episode 32: Quick Takes: What is the latest European plan to onshore rates trading?","url":"https://marketsconversation.fireside.fm/32","content_text":"In this episode, Chris delves into the factors influencing the European initiative to bring rates trading onshore. He'll discuss key points, including:\n\n\nNoteworthy surges in volumes for both €STR and EURIBOR futures at Eurex.\nOngoing momentum in €STR futures at ICE, propelled by their incentive program, resulting in a substantial 27% market share.\nCME maintaining the majority of Open Interest in €STR futures.\nThe ongoing development of the precise criteria for an Active Account in Europe.\n\n\nHASHTAGS\n\nION #IONMarkets #ClarusFT #OnshoreRatesTrading #€STR #EURIBOR\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Chris delves into the factors influencing the European initiative to bring rates trading onshore. He'll discuss key points, including:
\n\nHASHTAGS
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-01-24T11:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/fdcab861-b6cb-4c9d-9101-0cbf6371950b.mp3","mime_type":"audio/mpeg","size_in_bytes":17302466,"duration_in_seconds":720}]},{"id":"83302dc9-c055-4ddd-9999-9666f35786b4","title":"Episode 31: Quick Takes: Our Top Blogs of 2023","url":"https://marketsconversation.fireside.fm/31","content_text":"In this episode, Amir highlights the most popular blog posts of 2023 and shares a few statistics on their performance.\n\nSome highlights include the Top NEW Blogs in 2023, Top Blogs in 2023, Categories and Topics of Blog Posts and some thoughts on going forward in 2024.\n\n#ION #IONMarkets #ClarusFT #PopularBlogPosts #TopNewBlogs\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Amir highlights the most popular blog posts of 2023 and shares a few statistics on their performance.
\n\nSome highlights include the Top NEW Blogs in 2023, Top Blogs in 2023, Categories and Topics of Blog Posts and some thoughts on going forward in 2024.
\n\n#ION #IONMarkets #ClarusFT #PopularBlogPosts #TopNewBlogs
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-01-17T11:30:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/83302dc9-c055-4ddd-9999-9666f35786b4.mp3","mime_type":"audio/mpeg","size_in_bytes":17034745,"duration_in_seconds":709}]},{"id":"505ec2d3-39d3-4760-9d47-683253e05253","title":"Episode 30: Quick Takes: What You Need to Know About INR Swaps","url":"https://marketsconversation.fireside.fm/30","content_text":"In this episode, Chris Barnes will briefly explain what you need to now about INR Swaps and how Clarus CCPView allows traders to compare the relative size of INR swap markets to other currencies.\n\nChris will also discuss: \n\nHow 2023 is already a record year in clearing with more than $2.4Trn equivalent transacted.\nWhy the clearing landscape is split between the CCIL Onshore market accounting for 33% of volumes, and LCH SwapClear representing the Offshore market with 67% of volumes.\nWhy SEF market is very concentrated across two SEFs – Tradeweb for D2C flow and BGC for dealers.\n\n#ION #IONMarkets #ClarusFT #INRSwaps #CCPView #CCIL #LCHSwapClear\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.Links:CCP View","content_html":"In this episode, Chris Barnes will briefly explain what you need to now about INR Swaps and how Clarus CCPView allows traders to compare the relative size of INR swap markets to other currencies.
\n\nChris will also discuss:
\n\nHow 2023 is already a record year in clearing with more than $2.4Trn equivalent transacted.
\nWhy the clearing landscape is split between the CCIL Onshore market accounting for 33% of volumes, and LCH SwapClear representing the Offshore market with 67% of volumes.
\nWhy SEF market is very concentrated across two SEFs – Tradeweb for D2C flow and BGC for dealers.
#ION #IONMarkets #ClarusFT #INRSwaps #CCPView #CCIL #LCHSwapClear
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
Links:
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2024-01-10T09:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/505ec2d3-39d3-4760-9d47-683253e05253.mp3","mime_type":"audio/mpeg","size_in_bytes":12583381,"duration_in_seconds":523}]},{"id":"671db9a7-7c0e-4ea9-a2d0-0d9c900d6a6e","title":"Episode 29: Quick Takes: Time Series of Swap Prices and Volumes","url":"https://marketsconversation.fireside.fm/29","content_text":"In this episode, Amir breaks down how to analyze datasets in new and novel ways by showcasing a new feature on the Clarus website called SDRView.\n\nSDRView has transaction level data for OTC Derivatives, made public under CFTC Regulations, which consists of more than 50 fields for each transaction.\n\nUnlike Bonds or Equities, there are no security instruments as such for Swaps and OTC Derivatives, rather a set of fields, that allow customers to determine if it is a standard trade and the most common nomenclature/symbology for standard Swap instruments is the Bloomberg Ticker.\n\nThe new Ticker Summary view uses this to conveniently access a large historical record of trades for price and volume summary measures.\n\n#ION #IONMarkets #ClarusFT #OTC Derivatives #SwapInstruments #SDRView\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Amir breaks down how to analyze datasets in new and novel ways by showcasing a new feature on the Clarus website called SDRView.
\n\nSDRView has transaction level data for OTC Derivatives, made public under CFTC Regulations, which consists of more than 50 fields for each transaction.
\n\nUnlike Bonds or Equities, there are no security instruments as such for Swaps and OTC Derivatives, rather a set of fields, that allow customers to determine if it is a standard trade and the most common nomenclature/symbology for standard Swap instruments is the Bloomberg Ticker.
\n\nThe new Ticker Summary view uses this to conveniently access a large historical record of trades for price and volume summary measures.
\n\n#ION #IONMarkets #ClarusFT #OTC Derivatives #SwapInstruments #SDRView
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-12-19T14:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/671db9a7-7c0e-4ea9-a2d0-0d9c900d6a6e.mp3","mime_type":"audio/mpeg","size_in_bytes":13761481,"duration_in_seconds":572}]},{"id":"aa4d17ae-edb0-438a-a88e-0f1679572fa8","title":"Episode 28: Melissa Stevenson: How FX businesses boost loyalty and profitability with data","url":"https://marketsconversation.fireside.fm/28","content_text":"In this episode we’ll discuss how the move to self-service models enhances efficiency and convenience, but it also introduces a “knowledge gap” as firms lose the insights gained from customer interactions. Melissa will help us understand how embracing a data-driven, decision-making culture is crucial for staying competitive. She also explain how adopting data analytics that align with your marketing strategies and focus on core objectives, can help drive success in the FX market.\n\nION #IONMarkets #FX #KnowledgeGap #ForeignExchange #FXData #Digitization\n\nMelissa Stevenson, Product Manager, ION Markets (FX)\n\nMelissa Stevenson’s career has focused on banking and financial services technology. Prior to joining ION, Melissa was on the trading desk at both Bankers Trust and Deutsche Bank NY, as well as at KPMG in the financial services consulting group. As a Product Manager at ION Markets, Melissa is responsible for ensuring ION’s solutions for foreign exchange (FX) service the evolving needs of institutions in that industry.","content_html":"In this episode we’ll discuss how the move to self-service models enhances efficiency and convenience, but it also introduces a “knowledge gap” as firms lose the insights gained from customer interactions. Melissa will help us understand how embracing a data-driven, decision-making culture is crucial for staying competitive. She also explain how adopting data analytics that align with your marketing strategies and focus on core objectives, can help drive success in the FX market.
\n\nMelissa Stevenson, Product Manager, ION Markets (FX)
\n\nMelissa Stevenson’s career has focused on banking and financial services technology. Prior to joining ION, Melissa was on the trading desk at both Bankers Trust and Deutsche Bank NY, as well as at KPMG in the financial services consulting group. As a Product Manager at ION Markets, Melissa is responsible for ensuring ION’s solutions for foreign exchange (FX) service the evolving needs of institutions in that industry.
","summary":"On today’s episode, Melissa Stevenson from ION Markets will discuss the transformative impact of digitalization in the Foreign Exchange (FX) industry and how FX businesses can boost loyalty and profitability with data.","date_published":"2023-12-12T15:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/aa4d17ae-edb0-438a-a88e-0f1679572fa8.mp3","mime_type":"audio/mpeg","size_in_bytes":12347058,"duration_in_seconds":513}]},{"id":"6e7745c2-8276-415a-939f-a7dc3e210227","title":"Episode 27: Quick Takes: Swaption Volumes by Strike Q3 2023","url":"https://marketsconversation.fireside.fm/27","content_text":"In this episode, Chris talks about swaptions data and how high the volumes have risen, up to 40 percent higher, than he has ever seen before. Chris and Amir will also unpack:\n\n\nHow Swaptions activity has reacted to the huge sell off we have seen in Fixed Income markets during Q1 2022.\nTake a look at Swaption strikes traded throughout the quarter.\nThey break-down the analysis into Receivers, Payers and Straddles.\n\n\nION #IONMarkets #ClarusFT #Swaption\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this episode, Chris talks about swaptions data and how high the volumes have risen, up to 40 percent higher, than he has ever seen before. Chris and Amir will also unpack:
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-12-11T12:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/6e7745c2-8276-415a-939f-a7dc3e210227.mp3","mime_type":"audio/mpeg","size_in_bytes":15888195,"duration_in_seconds":661}]},{"id":"091a37da-353a-4f0e-93cc-850e21e0316c","title":"Episode 26: Quick Takes: Default Simulation Exercises by CCPs","url":"https://marketsconversation.fireside.fm/26","content_text":"In this week's Quick Takes, Amir will discuss \"Default Simulation Exercises by CCPs.\"\n\nCCPs are an important market infrastructure and default management processes. Amir will explain how CCPGlobal, the Global Association of Central Counterparties, is coordinating the first multi-CCP default simulation exercise with collective industry efforts called 2023 CIDS.\n\n#ION #IONMarkets #ClarusFT #DefaultSimulation # CCPGlobal #2023CIDS\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this week's Quick Takes, Amir will discuss "Default Simulation Exercises by CCPs."
\n\nCCPs are an important market infrastructure and default management processes. Amir will explain how CCPGlobal, the Global Association of Central Counterparties, is coordinating the first multi-CCP default simulation exercise with collective industry efforts called 2023 CIDS.
\n\n#ION #IONMarkets #ClarusFT #DefaultSimulation # CCPGlobal #2023CIDS
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"In this week's Quick Takes, Amir will discuss \"Default Simulation Exercises by CCPs.\"","date_published":"2023-12-04T13:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/091a37da-353a-4f0e-93cc-850e21e0316c.mp3","mime_type":"audio/mpeg","size_in_bytes":14221801,"duration_in_seconds":592}]},{"id":"f6ef9c4e-5c64-4318-af25-5d8b943f5e9a","title":"Episode 25: FX market trends: Liquidity, execution, and the FX Global Code","url":"https://marketsconversation.fireside.fm/25","content_text":"In this episode we’ll discuss not only how the FX market has undergone a transformative shift, but also Eugene will explain how market participants, in response, have diversified strategies, embraced innovative liquidity access methods, and adopted data-driven solutions to refine provision and execution.\n\n#ION #IONMarkets #FX #Liquidity #ForeignExchange #FXGlobalCode","content_html":"In this episode we’ll discuss not only how the FX market has undergone a transformative shift, but also Eugene will explain how market participants, in response, have diversified strategies, embraced innovative liquidity access methods, and adopted data-driven solutions to refine provision and execution.
\n\n#ION #IONMarkets #FX #Liquidity #ForeignExchange #FXGlobalCode
","summary":"On today’s episode, Eugene Markman from ION Markets will share with how market volatility has become a defining feature of the Foreign Exchange (FX) landscape and how it has significantly altered how traders reliability access liquidity.","date_published":"2023-11-22T12:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/f6ef9c4e-5c64-4318-af25-5d8b943f5e9a.mp3","mime_type":"audio/mpeg","size_in_bytes":21596353,"duration_in_seconds":899}]},{"id":"394082c4-9923-4a7d-a1b6-96b785e15811","title":"Episode 24: Quick Takes: A new look at €STR Futures","url":"https://marketsconversation.fireside.fm/24","content_text":"In this week's Quick Takes, Chris will be taking a new look at €STR Futures.\n\nHe'll discuss how RFR/€STR Adoption continues to be volatile in Europe, but €STR Futures have had a pretty good year so far, with monthly volumes increasing steadily and how there is now a three-way battle for market share in €STR STIRs between CME, Eurex and ICE.\n\nION #IONMarkets #ClarusFT #€STR #€STRFutures #€STRSTIRs\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this week's Quick Takes, Chris will be taking a new look at €STR Futures.
\n\nHe'll discuss how RFR/€STR Adoption continues to be volatile in Europe, but €STR Futures have had a pretty good year so far, with monthly volumes increasing steadily and how there is now a three-way battle for market share in €STR STIRs between CME, Eurex and ICE.
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-11-10T16:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/394082c4-9923-4a7d-a1b6-96b785e15811.mp3","mime_type":"audio/mpeg","size_in_bytes":12647932,"duration_in_seconds":526}]},{"id":"4eafa4f4-e12d-415a-8ed8-35f794ddb54b","title":"Episode 23: Quick Takes: Term SOFR and BSBY Volumes – October 2023","url":"https://marketsconversation.fireside.fm/23","content_text":"In this week's Quick Takes, Amir will discuss will look at the YTD 2023 data trends for Term SOFR and BSBY Volumes and separate Term SOFR (published by CME) from Average SOFR (NY Fed).\n\nHe'll explain how Term SOFR Swap volumes are down, though still far higher than Average SOFR, while BSBY Swaps trading is coming to an end.\n\nION #IONMarkets #ClarusFT #TermSOFR #BSBYVolumes #Swaps\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this week's Quick Takes, Amir will discuss will look at the YTD 2023 data trends for Term SOFR and BSBY Volumes and separate Term SOFR (published by CME) from Average SOFR (NY Fed).
\n\nHe'll explain how Term SOFR Swap volumes are down, though still far higher than Average SOFR, while BSBY Swaps trading is coming to an end.
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-11-10T12:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/4eafa4f4-e12d-415a-8ed8-35f794ddb54b.mp3","mime_type":"audio/mpeg","size_in_bytes":10366307,"duration_in_seconds":431}]},{"id":"d4e33c2e-3a81-47ff-8fdf-97f48aa01da7","title":"Episode 22: Quick Takes: Using SACCR to monitor Counterparty Credit Risk","url":"https://marketsconversation.fireside.fm/22","content_text":"In this week's Quick Takes, Chris will discuss using SACCR to monitor Counterparty Credit Risk.\n\nHe'll discuss the importance of closely monitoring Counterparty Credit Risk for all market participants and highlight how SACCR is a valuable tool, even if not mandated by regulators.\n\nION #IONMarkets #ClarusFT #SACCR #CounterpartyCreditRisk #ISDA\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this week's Quick Takes, Chris will discuss using SACCR to monitor Counterparty Credit Risk.
\n\nHe'll discuss the importance of closely monitoring Counterparty Credit Risk for all market participants and highlight how SACCR is a valuable tool, even if not mandated by regulators.
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-11-07T15:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/d4e33c2e-3a81-47ff-8fdf-97f48aa01da7.mp3","mime_type":"audio/mpeg","size_in_bytes":12775603,"duration_in_seconds":531}]},{"id":"713a774f-0176-45b7-aba3-3e2870234a9f","title":"Episode 21: Quick Takes: 3Q23 CCP Volumes and Share in IRD","url":"https://marketsconversation.fireside.fm/21","content_text":"In this week's Quick Takes, Amir will discuss Clarus CCPView daily volume and open interest data published by each CCP, which is filtered, normalized and aggregated to allow meaningful comparisons of volumes.\n\nHe will further explore 3Q23 volume and market share in IRD for:\n\nUSD Swaps (SOFR, FF)\nEUR Swaps (EURIBOR, €STR)\nGBP Swaps (SONIA)\nJPY Swaps (TONA)\nAUD Swaps (BBSW, AONIA)\nCAD Swaps (CDOR, CORRA)\nEMEA Swaps\nAsiaPac Swaps\nLatAm Swaps\nCross Currency Swaps\n\nION #IONMarkets #ClarusFT #CCPView #3Q23Volume #Swaps\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.Links:Clarus CCPViewCCP Basis and Volume in Major Currencies","content_html":"In this week's Quick Takes, Amir will discuss Clarus CCPView daily volume and open interest data published by each CCP, which is filtered, normalized and aggregated to allow meaningful comparisons of volumes.
\n\nHe will further explore 3Q23 volume and market share in IRD for:
\n\nUSD Swaps (SOFR, FF)
\nEUR Swaps (EURIBOR, €STR)
\nGBP Swaps (SONIA)
\nJPY Swaps (TONA)
\nAUD Swaps (BBSW, AONIA)
\nCAD Swaps (CDOR, CORRA)
\nEMEA Swaps
\nAsiaPac Swaps
\nLatAm Swaps
\nCross Currency Swaps
Amir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
Links:
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus FT, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-11-03T17:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/713a774f-0176-45b7-aba3-3e2870234a9f.mp3","mime_type":"audio/mpeg","size_in_bytes":12225750,"duration_in_seconds":508}]},{"id":"dfc170e8-d97f-4a83-bd9c-8acac561926d","title":"Episode 20: Quick Takes: The truth about SONIA derivatives liquidity","url":"https://marketsconversation.fireside.fm/20","content_text":"In this week's Quick Takes, Chris shares an overview of how Clarus data reveals the truth about SONIA derivatives liquidity\n\n\nGBP Rates derivatives volumes have recently recovered to nearly 90% of pre-LIBOR cessation levels.\nFRAs and Basis Swap volumes used to make up over 15% of total volumes pre-LIBOR cessation.\nThe fact that volumes have reduced by less than the 15% expected is therefore note-worthy.\nClarus traded volume data suggests that the SONIA market is healthy, despite the challenging market backdrop.\n\n\nION #IONMarkets #ClarusFT #CreditDerivatives #CRD #FXDerivatives #FXD #ClearingHouses #CCPs\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"In this week's Quick Takes, Chris shares an overview of how Clarus data reveals the truth about SONIA derivatives liquidity
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-10-13T18:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/dfc170e8-d97f-4a83-bd9c-8acac561926d.mp3","mime_type":"audio/mpeg","size_in_bytes":12749804,"duration_in_seconds":530}]},{"id":"412b3a69-83c8-43b2-a4ae-16f1f5498755","title":"Episode 19: Quick Takes: 3Q23 CCP Volumes and Share in CRD and FXD","url":"https://marketsconversation.fireside.fm/19","content_text":"This week's Quick Takes has Amir reviewing Credit Derivatives (CRD) and FX Derivatives (FXD) volumes and market share at Clearing Houses (CCPs) in 3Q 2023.\n\n\nCRD – Index, Single-name and Swaptions\nIn USD, CDX and CDS volumes were down\nIn EUR, iTraxx volumes were down, while CDS were up\nIn EUR iTraxx, LCH CDSClear share has doubled from a year earlier to 26%\nIn EUR CDS, share is now ICE Clear Credit 55% and LCH CSDClear 40%\nFXD – NDF, Options, Forwards and Swaps\nNDF volumes up 10% to $3.3 trillion from a year earlier\nFX Options volumes doubling with $363 billion, all at LCH ForexClear\nFX Options outstanding notional increasing quarter on quarter\n\n\nION #IONMarkets #ClarusFT #CreditDerivatives #CRD #FXDerivatives #FXD #ClearingHouses #CCPs\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.","content_html":"This week's Quick Takes has Amir reviewing Credit Derivatives (CRD) and FX Derivatives (FXD) volumes and market share at Clearing Houses (CCPs) in 3Q 2023.
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-10-13T12:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/412b3a69-83c8-43b2-a4ae-16f1f5498755.mp3","mime_type":"audio/mpeg","size_in_bytes":12656037,"duration_in_seconds":526}]},{"id":"e93fd817-9869-4461-870f-0c0eac0825c5","title":"Episode 18: Quick Takes: ISDA SIMM – What changes in v2.6?","url":"https://marketsconversation.fireside.fm/18","content_text":"This week's Quick Takes has Amir discussing \"ISDA SIMM – What changes in v2.6?\"\n\n\nISDA SIMM v2.6 is effective December 2, 2023;\nUpdated with a full re-calibration and industry backtesting;\nMeaning Initial Margin will change for most portfolios;\nIn particular, material increases for Commodity and Equity risk;\nTo quantify the actual impact of SIMM v2.6;\nClarus CHARM can run both SIMM v2.6 and v2.5a on your portfolios;\n\n\nION #IONMarkets #ClarusFT #ISDA SIMMv2.6 #ClarusCHARM\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.Links:ISDA 2016: Implementing Margin Rules for Non-Cleared SwapsMargin Buffer, Event Risk and the US ElectionCharm","content_html":"This week's Quick Takes has Amir discussing "ISDA SIMM – What changes in v2.6?"
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
Links:
This week's Quick Takes has Chris Barnes discussing "RFR Trading Is Now Back on Track – August 2023."
\n\nAmir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
","summary":"ION Markets Weekly Quick Takes is a weekly podcast that along with guests Amir Khwaja and Chris Barnes from Clarus, we take a quick dive into the headlines on the Clarus blog.","date_published":"2023-10-06T09:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/674f9905-934e-42c9-9548-311eb453d159.mp3","mime_type":"audio/mpeg","size_in_bytes":14117188,"duration_in_seconds":587}]},{"id":"37ad381b-7424-423f-aa57-3416b5f62f5c","title":"Episode 16: Quick Takes: Most Active Names in Credit and Equity Derivatives & EUR Swaps","url":"https://marketsconversation.fireside.fm/16","content_text":"This week's Quick Takes has Amir discussing \"Most Active Names in Credit and Equity Derivatives – August 2023\" and Chris telling us more about how \"Brexit continues to impact EUR Swaps market share for CCPs and SEFs\".\n #ION #IONMarkets #ClarusFT #EURSwaps #EquityDerivaties\nhttps://www.clarusft.com/clarus-goes-podcasting-what-do-you-think/\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.Links:Clarus Goes Podcasting – What Do You Think?","content_html":"This week's Quick Takes has Amir discussing "Most Active Names in Credit and Equity Derivatives – August 2023" and Chris telling us more about how "Brexit continues to impact EUR Swaps market share for CCPs and SEFs".
\n #ION #IONMarkets #ClarusFT #EURSwaps #EquityDerivaties
\nhttps://www.clarusft.com/clarus-goes-podcasting-what-do-you-think/
Amir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
Links:
","summary":"ION Markets Quick Takes is a weekly podcast where my guests Amir Khwaja and Chris Barnes from Clarus, take us on a quick dive into the headlines on the Clarus blog.","date_published":"2023-10-05T17:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/37ad381b-7424-423f-aa57-3416b5f62f5c.mp3","mime_type":"audio/mpeg","size_in_bytes":41356625,"duration_in_seconds":1722}]},{"id":"68978a26-a0de-4f50-9e53-4349624c3db9","title":"Episode 15: Quick Takes: What’s New in CCP Disclosures – 2Q23? and JPY TONA Futures","url":"https://marketsconversation.fireside.fm/15","content_text":"This week's Quick Takes has Amir discussing \"What’s New in CCP Disclosures – 2Q23?\" and Chris telling us more about \"JPY TONA Futures: A Rising Star in the RFR Market.\"\nhttps://www.clarusft.com/whats-new-in-ccp-disclosures-2q23/\nhttps://www.clarusft.com/jpy-tona-futures-a-rising-star-in-the-rfr-market/\n\nAmir Khwaja, CEO, Clarus Financial Technology\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.\n\nChris Barnes, Senior Vice President, Clarus Financial Technology\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.Links:What’s New in CCP Disclosures – 2Q23?JPY TONA Futures: A Rising Star in the RFR Market","content_html":"This week's Quick Takes has Amir discussing "What’s New in CCP Disclosures – 2Q23?" and Chris telling us more about "JPY TONA Futures: A Rising Star in the RFR Market."
\nhttps://www.clarusft.com/whats-new-in-ccp-disclosures-2q23/
\nhttps://www.clarusft.com/jpy-tona-futures-a-rising-star-in-the-rfr-market/
Amir Khwaja, CEO, Clarus Financial Technology
\n\nAmir is CEO of Clarus Financial Technology and has more than thirty years' experience in OTC Derivatives and Technology. His prior positions include Director of RiskMng and FE at Calypso Technology (2005-2012), CTO at SunGard Trading and Risk (2002-2005), CEO & Founder at Kronos Software (1998-2002). Amir started his career at Chase Manhattan (now JPM) as an IT graduate trainee in 1988, after a degree in Mechanical Engineering from Imperial College, London.
\n\nChris Barnes, Senior Vice President, Clarus Financial Technology
\n\nChris has over 19 years experience in OTC Derivatives markets. He started out trading Cross Currency Swaps at HSBC in London between 2002 and 2010, before helping to launch Rates Trading at State Street in London (2010-2012). Having relocated to Switzerland, he also served as the Director of Product Development at Gottex.
\n\nChris holds an MA from the University of Cambridge in Natural Sciences, where his dissertation on artificial intelligence was published in 2001.
Links:
","summary":"ION Markets Quick Takes is a weekly podcast where my guests Amir Khwaja and Chris Barnes from Clarus, take us on a quick dive into the headlines on the Clarus blog.","date_published":"2023-10-04T17:30:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/68978a26-a0de-4f50-9e53-4349624c3db9.mp3","mime_type":"audio/mpeg","size_in_bytes":28998054,"duration_in_seconds":1207}]},{"id":"e18b69a3-10a2-4947-a49a-9920bac9ca7e","title":"Episode 14: The future of risk management and surveillance for capital markets","url":"https://marketsconversation.fireside.fm/14","content_text":"Financial institutions play a critical role in ensuring market integrity and protecting investors by monitoring trading activities. They do this by employing powerful algorithms and machine learning techniques designed to identify suspicious patterns and anomalies in trading data. Through trading surveillance teams, financial institutions can detect potential market abuse, insider trading, and other regulatory violations.Enrico will help us understand the practices that model risk teams develop, and he will shed light on the regulatory landscape and discuss how technology continues to shape this ever-evolving field.","content_html":"Financial institutions play a critical role in ensuring market integrity and protecting investors by monitoring trading activities. They do this by employing powerful algorithms and machine learning techniques designed to identify suspicious patterns and anomalies in trading data. Through trading surveillance teams, financial institutions can detect potential market abuse, insider trading, and other regulatory violations.
Enrico will help us understand the practices that model risk teams develop, and he will shed light on the regulatory landscape and discuss how technology continues to shape this ever-evolving field.
","summary":"","date_published":"2023-09-21T13:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/ceb36ea8-44cb-4c83-b561-f5f7acd09b0b.mp3","mime_type":"audio/mpeg","size_in_bytes":33472750,"duration_in_seconds":1393}]},{"id":"a7268078-0e81-4b34-a1d8-93f62d51404c","title":"Episode 13: Future Finance: A Look into AI's Role","url":"https://marketsconversation.fireside.fm/13","content_text":"On today’s episode, we’re discussing the role of Artificial Intelligence in financial servicesOur guests today, Riccardo Bernini from ION’s LIST Professional Services, will help us understand how the Financial Services Industry is undergoing a major transformation due to the emergence of Artificial Intelligence (AI). AI is being used in a variety of ways to automate everyday tasks, provide more sophisticated advice, detect fraud, score credit, and manage portfolios along with handling personalized services and back-office operations. As AI continues to advance, financial services organizations must embrace the technology in order to gain a competitive edge and create new opportunities for growth.#AI #FinancialSerivices #ION #IONMarkets #FutureofFinance #ArtificialIntelligence #IONLIST","content_html":"On today’s episode, we’re discussing the role of Artificial Intelligence in financial services
Our guests today, Riccardo Bernini from ION’s LIST Professional Services, will help us understand how the Financial Services Industry is undergoing a major transformation due to the emergence of Artificial Intelligence (AI). AI is being used in a variety of ways to automate everyday tasks, provide more sophisticated advice, detect fraud, score credit, and manage portfolios along with handling personalized services and back-office operations. As AI continues to advance, financial services organizations must embrace the technology in order to gain a competitive edge and create new opportunities for growth.
#AI #FinancialSerivices #ION #IONMarkets #FutureofFinance #ArtificialIntelligence #IONLIST
","summary":"","date_published":"2023-08-25T10:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/592c72e0-c80b-48a0-aeb0-4df2aee91bc1.mp3","mime_type":"audio/mpeg","size_in_bytes":30210787,"duration_in_seconds":1257}]},{"id":"5d165050-cd8d-4630-9f56-aafa0640f1f0","title":"Episode 12: The growing opportunity in derivatives clearing","url":"https://marketsconversation.fireside.fm/12","content_text":"Since the financial crisis of 2008, the FCM market has undergone remarkable transformations, adapting to new regulations, market volatility, and advancements in technology. Our guests today will shed light on how these changes have shaped the FCM industry's resilience and have provided a foundation for growth.Bruce Roberts is part of the global management team in cleared derivatives and global business development at ION.Will Mitting is the founder and CEO of Acuiti, a research platform that provides insights and operational trends on cleared derivatives. #ION #IONMarkets #ClearedDerivatives #FCMs #FinancialServices","content_html":"Since the financial crisis of 2008, the FCM market has undergone remarkable transformations, adapting to new regulations, market volatility, and advancements in technology. Our guests today will shed light on how these changes have shaped the FCM industry's resilience and have provided a foundation for growth.
Bruce Roberts is part of the global management team in cleared derivatives and global business development at ION.
Will Mitting is the founder and CEO of Acuiti, a research platform that provides insights and operational trends on cleared derivatives.
#ION #IONMarkets #ClearedDerivatives #FCMs #FinancialServices
","summary":"","date_published":"2023-08-21T10:30:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/b1ac1905-86c8-4151-b871-c627d32d3d3b.mp3","mime_type":"audio/mpeg","size_in_bytes":20626729,"duration_in_seconds":1717}]},{"id":"8d870260-e59a-4db8-bb77-9a43ab930b0a","title":"Episode 11: How Technology Can Help the Markets Overcome the “ESG-data Conundrum”","url":"https://marketsconversation.fireside.fm/11","content_text":"Environmental, social, and governance (ESG) guidelines help investors screen investment opportunities based on responsible corporate policies. On today’s episode, Steven Strange from ION Markets will explain how technology can play a significant role in helping the financial markets overcome the \"ESG-data conundrum.\" The \"ESG-data conundrum\" refers to the challenges of effectively collecting, analyzing, and utilizing ESG data for investment decision-making. Steven will also share some insight on why it’s important for these new processes to be in place and how asset managers can leverage cloud technology to manage this data overload.#ION #IONMarkets #ESG #FinancialServices #CloudComputing","content_html":"Environmental, social, and governance (ESG) guidelines help investors screen investment opportunities based on responsible corporate policies. On today’s episode, Steven Strange from ION Markets will explain how technology can play a significant role in helping the financial markets overcome the \"ESG-data conundrum.\"
The \"ESG-data conundrum\" refers to the challenges of effectively collecting, analyzing, and utilizing ESG data for investment decision-making. Steven will also share some insight on why it’s important for these new processes to be in place and how asset managers can leverage cloud technology to manage this data overload.
#ION #IONMarkets #ESG #FinancialServices #CloudComputing
","summary":"","date_published":"2023-06-16T16:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/65f5db95-ec8c-43ea-ab8f-4efdfa9777ba.mp3","mime_type":"audio/mpeg","size_in_bytes":13259330,"duration_in_seconds":1103}]},{"id":"713bb70c-b892-4de8-bb42-73475e44864a","title":"Episode 10: Cloud Computing Adoption in Financial Services","url":"https://marketsconversation.fireside.fm/10","content_text":"Our guest speaker, Bob Cioffi from ION’s Equities Division, will help us understand why cloud computing is a rapidly growing trend in the financial services. He’ll explain how cloud computing providers offer a wide range of services which can help financial institutions to improve their efficiency, reduce their costs, and improve their security.#ION #IONMarkets #CloudComputing #FinancialServices ","content_html":"Our guest speaker, Bob Cioffi from ION’s Equities Division, will help us understand why cloud computing is a rapidly growing trend in the financial services. He’ll explain how cloud computing providers offer a wide range of services which can help financial institutions to improve their efficiency, reduce their costs, and improve their security.
#ION #IONMarkets #CloudComputing #FinancialServices
","summary":null,"date_published":"2023-06-05T15:44:13.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/e0d9c728-6ac9-48b6-addf-390d529473a8.mp3","mime_type":"audio/mpeg","size_in_bytes":24438167,"duration_in_seconds":1018}]},{"id":"d2780e07-5aa6-4afa-819f-6d6d32b9b62a","title":"Episode 9: ISO 20022 implementation in Financial Services","url":"https://marketsconversation.fireside.fm/9","content_text":"In this episode, our guest Joe Guerrero from the Foreign Exchange division at ION will be discussing the ISO 20022, a global messaging standard for financial transactions. The ISO 20022 replaces the widely used ISO 15022 and addresses some of the current limitations by enabling a new messaging language and protocols for the exchange of electronic data between financial institutions, market infrastructures, and other parties involved in payments processing. About Our Guest Joe GuerreroJoe started his career as a software developer, but quickly moved into more of a business role working as an account manager in a small American FinTech company. From account management Joe moved into a Support Manager role, ultimately becoming a Project Manager. He then transitioned to the client side, working for a bank, as a senior business analyst in the credit derivatives world. He eventually returned to his prior company, Wall Street Systems, as a product manager working mainly in FX and back office, but also implementing new regulations that ensured more transparency and controls in the financial services in response to the sub-prime mortgage crisis of 2008.After Wall Street Systems was acquired by ION, he has been focused on both integrating legacy Wall Street systems and on new and re-engineered ION products.#IONMarkets #ISO20022 #ISOMessagingStandard #Foreign Exchange","content_html":"In this episode, our guest Joe Guerrero from the Foreign Exchange division at ION will be discussing the ISO 20022, a global messaging standard for financial transactions.
The ISO 20022 replaces the widely used ISO 15022 and addresses some of the current limitations by enabling a new messaging language and protocols for the exchange of electronic data between financial institutions, market infrastructures, and other parties involved in payments processing.
About Our Guest Joe Guerrero
Joe started his career as a software developer, but quickly moved into more of a business role working as an account manager in a small American FinTech company. From account management Joe moved into a Support Manager role, ultimately becoming a Project Manager.
He then transitioned to the client side, working for a bank, as a senior business analyst in the credit derivatives world. He eventually returned to his prior company, Wall Street Systems, as a product manager working mainly in FX and back office, but also implementing new regulations that ensured more transparency and controls in the financial services in response to the sub-prime mortgage crisis of 2008.
After Wall Street Systems was acquired by ION, he has been focused on both integrating legacy Wall Street systems and on new and re-engineered ION products.
#IONMarkets #ISO20022 #ISOMessagingStandard #Foreign Exchange
","summary":"","date_published":"2023-05-05T09:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/746526a3-ce27-497a-b91c-b9bcd8076493.mp3","mime_type":"audio/mpeg","size_in_bytes":29248686,"duration_in_seconds":1217}]},{"id":"bda2ec2f-e4e4-4c0c-b803-8873cecd30ab","title":"Episode 8: Post-trade improvements since COVID","url":"https://marketsconversation.fireside.fm/8","content_text":"Will Mitting, CEO of Acuiti, and Bruce Roberts from ION's Markets Division will discuss post-trade improvements since COVID, and how the expansion of digital trade exposed significant technology shortcomings: from outdated infrastructure to fragmented risk systems and the challenge of incorporating new asset classes, like cryptocurrency, into aging, legacy systems.#ION #Markets #PostTradeImprovements #ION Markets #RiskSystems","content_html":"Will Mitting, CEO of Acuiti, and Bruce Roberts from ION's Markets Division will discuss post-trade improvements since COVID, and how the expansion of digital trade exposed significant technology shortcomings: from outdated infrastructure to fragmented risk systems and the challenge of incorporating new asset classes, like cryptocurrency, into aging, legacy systems.
#ION #Markets #PostTradeImprovements #ION Markets #RiskSystems
","summary":"","date_published":"2023-04-27T19:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/1513c1e8-8f8f-4c62-b373-72cd4ef82d3a.mp3","mime_type":"audio/mpeg","size_in_bytes":20446721,"duration_in_seconds":1701}]},{"id":"aa181726-a76e-4834-9183-d7d317e58f67","title":"Episode 7: EMS and how to better serve the fixed income market","url":"https://marketsconversation.fireside.fm/7","content_text":"In this episode we take a deep dive at how Execution Management Systems, or EMS, are adapting to meet the evolving demands of their users, and we discuss EMS challenges and trends in the Fixed Income space.To help us understand all about EMS and its impact in the industry, our guest is Celina Costa from ION’s Fixed Income Product Management Team.","content_html":"In this episode we take a deep dive at how Execution Management Systems, or EMS, are adapting to meet the evolving demands of their users, and we discuss EMS challenges and trends in the Fixed Income space.
To help us understand all about EMS and its impact in the industry, our guest is Celina Costa from ION’s Fixed Income Product Management Team.
","summary":"","date_published":"2022-11-14T12:00:00.000-05:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/521b12ee-3b3c-4490-bf53-2ca5f690a6b9.mp3","mime_type":"audio/mpeg","size_in_bytes":11788625,"duration_in_seconds":979}]},{"id":"7eb2c1f8-6974-4686-8233-1923439ca352","title":"Episode 6: The trading life cycle","url":"https://marketsconversation.fireside.fm/6","content_text":"On this episode, we discuss how technology has not only transformed the trading life cycle, but has also presented challenges for risk managers.Technology and automation have been the great leap forward for many industries, especially finance. And with us to discuss the trading life cycle and how different types of margins affect the profitability of trades is our guest, Alex Lamb. Alex has been in finance for many years and he's worked in all facets of the trading industry, helping create and improve software companies and products, but what's been keeping him busy lately is tackling risk management and surveillance. ","content_html":"On this episode, we discuss how technology has not only transformed the trading life cycle, but has also presented challenges for risk managers.
Technology and automation have been the great leap forward for many industries, especially finance. And with us to discuss the trading life cycle and how different types of margins affect the profitability of trades is our guest, Alex Lamb.
Alex has been in finance for many years and he's worked in all facets of the trading industry, helping create and improve software companies and products, but what's been keeping him busy lately is tackling risk management and surveillance.
","summary":"","date_published":"2022-10-17T19:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/ea0e313d-bd86-40fe-ab46-bc2db8f60e2b.mp3","mime_type":"audio/mpeg","size_in_bytes":33504956,"duration_in_seconds":1396}]},{"id":"4122da46-05e6-43c8-a413-1d476cab6d67","title":"Episode 5: SA-CCR and its Impact on Cleared and Uncleared Markets","url":"https://marketsconversation.fireside.fm/5","content_text":"In this episode, we discuss how the Standardized Approach for Counterparty Credit Risk, more commonly known as SA-CCR, applies to over-the-counter derivatives (OTC), exchange-traded derivatives, and FX. SA-CCR is rapidly becoming the standard across the globe for bank regulatory capital, replacing CEM or the Current Exposure Method. What this means for market participants and global markets and products, is that all this is complex and varied, and to help us break this all down, our guests today are Chris Barnes and Amir Khwaja from ION Markets.","content_html":"In this episode, we discuss how the Standardized Approach for Counterparty Credit Risk, more commonly known as SA-CCR, applies to over-the-counter derivatives (OTC), exchange-traded derivatives, and FX.
SA-CCR is rapidly becoming the standard across the globe for bank regulatory capital, replacing CEM or the Current Exposure Method.
What this means for market participants and global markets and products, is that all this is complex and varied, and to help us break this all down, our guests today are Chris Barnes and Amir Khwaja from ION Markets.
","summary":"","date_published":"2022-09-27T10:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/4ff5395a-87e4-47da-8d7f-0d34bc2b2e7a.mp3","mime_type":"audio/mpeg","size_in_bytes":18027816,"duration_in_seconds":1496}]},{"id":"147e25b5-a842-4cdc-8fe5-b95a5f005edb","title":"Episode 4: FX: Centralized Liquidity and API Fragmentation","url":"https://marketsconversation.fireside.fm/4","content_text":"In this episode, we discuss some modern challenges to FX traders, exchanges and their software: specifically, centralized liquidity and fragmented APIs. We’ll explore what is behind these challenges, and how firms can best manage them.Our guest, Eugene Markman, from the Foreign Exchange Markets Division at ION, discusses issues such as low latency resulting from these centralized liquidity pools, and why API fragmentation has proliferated in the market.#ION #FX #Foreign Exchange #Markets #ION Markets #API #Liquidity","content_html":"In this episode, we discuss some modern challenges to FX traders, exchanges and their software: specifically, centralized liquidity and fragmented APIs. We’ll explore what is behind these challenges, and how firms can best manage them.
Our guest, Eugene Markman, from the Foreign Exchange Markets Division at ION, discusses issues such as low latency resulting from these centralized liquidity pools, and why API fragmentation has proliferated in the market.
#ION #FX #Foreign Exchange #Markets #ION Markets #API #Liquidity
","summary":"","date_published":"2022-07-28T09:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/0d9d46eb-b4da-4443-9176-d51278949f10.mp3","mime_type":"audio/mpeg","size_in_bytes":21583652,"duration_in_seconds":898}]},{"id":"e141c7a8-d7c6-4395-aa3d-eccb0767a16f","title":"Episode 3: The Evolution of Clearing","url":"https://marketsconversation.fireside.fm/3","content_text":"In this episode, we'll take a closer look at how banks, firms, and brokers are leveraging technology to manage risk amidst the challenges of inflation, global conflict, and more. Joining us in our conversation today is our special guest, from ION's cleared derivatives management, is Bruce Roberts, who's headquartered in London.#ClearedDerivatives #ION #iongroup #markets #IONMarkets","content_html":"In this episode, we'll take a closer look at how banks, firms, and brokers are leveraging technology to manage risk amidst the challenges of inflation, global conflict, and more. Joining us in our conversation today is our special guest, from ION's cleared derivatives management, is Bruce Roberts, who's headquartered in London.
#ClearedDerivatives #ION #iongroup #markets #IONMarkets
","summary":"","date_published":"2022-06-24T09:30:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/a174837d-946b-4c26-949f-15d64116436b.mp3","mime_type":"audio/mpeg","size_in_bytes":11723449,"duration_in_seconds":976}]},{"id":"3fb95540-54ed-4c46-9b70-9568458e6c5a","title":"Episode 2: Crypto Derivatives: Part 2","url":"https://marketsconversation.fireside.fm/2","content_text":"In this episode, we're following up on the CFTC round table that focused on the proposal by cryptocurrency exchange platform, FTX to bypass FCMs with a direct clearing model. It was a lively discussion with a cross section of industries, firms, and agencies represented, and a chance to learn more about the implications of FTX's proposal. To help us sort all this out and look at the pros and cons of this new proposed arrangement, we are once again joined by Russell Levens, Head of Client Engagement for Derivatives at ION and John Needham, Product Manager for ION Markets.#Markets #FTX #Crypto #derivatives #CFTC #ION","content_html":"In this episode, we're following up on the CFTC round table that focused on the proposal by cryptocurrency exchange platform, FTX to bypass FCMs with a direct clearing model. It was a lively discussion with a cross section of industries, firms, and agencies represented, and a chance to learn more about the implications of FTX's proposal. To help us sort all this out and look at the pros and cons of this new proposed arrangement, we are once again joined by Russell Levens, Head of Client Engagement for Derivatives at ION and John Needham, Product Manager for ION Markets.
#Markets #FTX #Crypto #derivatives #CFTC #ION
","summary":"","date_published":"2022-06-16T13:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/937dacdd-ac51-401a-a9f9-13288d0dce60.mp3","mime_type":"audio/mpeg","size_in_bytes":30648476,"duration_in_seconds":1275}]},{"id":"7376c5d5-0941-4e2e-8024-0a64316f5446","title":"Episode 1: Crypto Derivatives","url":"https://marketsconversation.fireside.fm/1","content_text":"In this episode, we dive into the rapidly evolving world of Crypto currency and its effect on the financial markets, specifically derivatives. We discuss how crypto could affect the derivatives market if the CFTC approves a proposal by crypto platform, FTX. This move could reduce the role of FCMs and seriously disrupt the trading status quo. Joining us in conversation are Russell Levens, Head of Client Engagement for Derivatives at ION, and John Needham, Product Manager for ION Markets.","content_html":"In this episode, we dive into the rapidly evolving world of Crypto currency and its effect on the financial markets, specifically derivatives. We discuss how crypto could affect the derivatives market if the CFTC approves a proposal by crypto platform, FTX. This move could reduce the role of FCMs and seriously disrupt the trading status quo. Joining us in conversation are Russell Levens, Head of Client Engagement for Derivatives at ION, and John Needham, Product Manager for ION Markets.
","summary":"","date_published":"2022-05-23T13:00:00.000-04:00","attachments":[{"url":"https://aphid.fireside.fm/d/1437767933/9b3d8d97-722f-4d2d-8603-bbb1f029e5ae/9a0be7e4-1d8c-4411-8400-6acb88651e91.mp3","mime_type":"audio/mpeg","size_in_bytes":28830697,"duration_in_seconds":1200}]}]}