Author: Aylin Reyes

In a significant move within the financial markets, the Tokyo Financial Exchange (TFX) has implemented an Intraday Additional Margin Call for interest-rate futures contracts, marking its first application since September 30, 2024. This new measure aims to provide enhanced risk management and stability, particularly in times of heightened market volatility. The introduction of this mechanism signals TFX’s commitment to ensuring that its margin requirements are more responsive to intraday price fluctuations. In this article, we will break down the mechanics of the Intraday Additional Margin Call, the factors that trigger this call, and its implications for market participants. Additionally, we…

Cboe BIDS VWAP-X, a pioneering trading mechanism that allows participants to source and match liquidity based on a forward benchmark price, has successfully launched in the UK. With its introduction in September 2024, the platform has already made notable strides, recording a record day of trading in March 2025. However, despite its success in the UK, the platform faces significant regulatory challenges preventing it from being offered in the European Union. Success in the UK Market The Cboe BIDS VWAP-X platform debuted in the UK with a focus on trading UK and Swiss securities, with the added benefit of enabling…

BNP Paribas has reported significant growth in its Securities Services division, fueled by robust developments in the private capital space, strategic client partnerships, digital innovation, and a deepening commitment to data-centric solutions. The bank’s results for the final quarter of 2024 reflect a strong upward trajectory that it expects to continue into 2025, driven by global momentum in private equity and an evolving client demand landscape. Robust Revenue Growth in Q4 2024 In its Q4 2024 earnings report, BNP Paribas announced a 13.4% year-on-year revenue increase for its Securities Services division, reaching €776 million. This growth was largely attributed to…