White Papers
Mondo Visione's How To Build An Exchange (3392kb pdf)
Exchanges are venues where investors wishing to buy a financial instrument find investors wishing to sell. The exchange brings together a buyer or seller to effect a trade. Central, to an exchange is the trading system on which trades are executed.
Indxis Index Engineering (691kb pdf)
Indxis derives its name from “index” and “axis”, representing the center point of the index world. Indxis offers a unique service platform, where we can manage all components of your index business or handle individual areas. Few providers can deliver what we can — a truly comprehensive index services platform that drives asset growth and controls costs.
The Market in Data - A discussion paper from Mondo Visione (2540kb pdf)
Get any group of middle-aged women together today and one topic is certain to come up: 50 Shades of Grey. Get any group of market data professionals (who of course are largely men) together and a similar thing happens: they will complain to each other about the 50 Shades of Pricing imposed on the industry by the exchanges. That is one view, to learn more, download this paper.
Surveillance (4847kb pdf)
Increased automation and the speed at which trading occurs in today’s markets makes for a more challenging environment to effectively monitor markets. The dispersal of trading across multiple trading centres has also made it more difficult to monitor and trace orders and transactions. This report from Mondo Visione looks at the challenges and possible solutions in market surveillance.
Africa Report (3104kb pdf)
If Olympic medals were given out for economic development, Africa would be picking up a silver medal for having the world’s second-fastest rate of economic growth behind Asia. Africa’s financial markets are growing in terms of size and breadth of instruments traded but it is not uncommon for African companies to outgrow their local market and to seek a listing in London, New York, Hong Kong or Toronto, as they target bourses with good liquidity and sufficient capital availability. One of the challenges for A frican exchanges is how to market themselves, in order to drive volumes up in their markets. To do this exchanges may need to invest in appropriate technology. Exchanges will also need to innovate and design products to suit the local market, thus making a greater range of options available for African investors.
Post Trade 3 (980kb pdf)
The pace of change in the world of post trade is not slowing down. A veritable tsunami of regulatory reform is headed this way.The regulatory changes impacting OTC derivatives coming from both sides of the Atlantic are momentous. Regulators are mandating that transactions in OTC derivatives be cleared, and that trading in “liquid derivatives” take place on a trading venue, rather than OTC. Such transactions would be subject to rules on pre and post-trade price reporting. This white paper will be taking a look at allthe above issues, hopefully in a clear way, even if many of the issues are certainly not simple.
Fixed Income Landscape - Regulatory changes spurs e-bond trading initiatives (311kb pdf)
Markets with a centralized central limit order book such as equity securities have fragmented. This has led to the emergence of multiple competing venues where orders can be traded. In dealer-centric markets such as fixed income or currency markets, technology has enabled market consolidation into centralized exchange-like environments.
The buy-side has traditionally seen the fixed income environment as one in which there was a transparency deficit. There was also a perception by the buy-side that pricing data for price discover was not reliable and market data expensive. Compared to other asset classes which are traded largely electronically, the fixed income world was viewed as being opaque.
The buy-side’s requirement for greater transparency coupled with lack of transparency and robust infrastructures in OTC markets which undermined market confidence at the height of the financial crisis has been a catalyst in the shift towards electronic trading and the trend towards a transparent centralised exchange type environment. Dodd-Frank in the USA and MiFID II in Europe are having a dramatic impact in the “electronification” of fixed income markets.
This White Paper takes a look at how the fixed income market in Europe is changing.
NASDAQ OMX Risk and Regulation Q1 2013 (979kb pdf)
Nasdaq OMX and Mondo Visione bring you insight in the current issues in compliance and risk. In this issue we will be looking at:Benchmarks, Legal Entity Identifiers, REMIT(Regulation on Energy Market Integrity and Transparency), Social Media and Cross Border OTC Derivatives. Our regional focus this quarter is on MENA. There is a lot going on in the regulatory space. Staying on top of it is a struggle, but a challenge that will not diminish.
Istanbul Financial Centre Report (2990kb pdf)
The Lord Mayor of the City of London, Alderman Roger Gifford visited Turkey to engage with government officials and industry leaders in discussions about the mutually-beneficial partnership to be had between Turkey and the City of London and the UK as a whole. A report on the Istanbul Financial Centre prepared by Mondo Visione in association with TheCityUK was presented by the Lord Mayor to Turkey’s Deputy Prime Minister Ali Babacan.
