Insights from our team

The latest thought leadership on key issues

Rolling with Inflation: Harnessing Systematic Rolling Inflation Swaps for Portfolio Power

As headline inflation continues to cool down in recent months and quarters, after heating up during the second half of 2021 and becoming red hot during 2022, we look at how the two commonly used instruments offering direct exposure to inflation have performed during the recent inflationary period.

By Anand Venkataraman , Head of Benchmark and Indices Product Management

Regulatory fines

Fines soar for poor recordkeeping, bad data management and faulty trading controls

Fines for poor recordkeeping and data management are escalating, with regulators issuing multi-million-dollar penalties to firms for compliance failures.

By Steve Holland , Head of Regulatory Products

Energy & Commodities

The push and pull in the global battery metals market

In the last ten years, critical minerals have climbed the agenda for governments and companies as key components of the energy transition.

By Victor Laurent , Head of Energy & Commodities Data Products

Global Economy

Government Debt: The Perfect Storm for the Global Economy

The global economy is on course for a “smooth landing” from the inflation crisis this year, but government debts and any fast moves to lower interest rates risk derailing it once again, according to the Bank for International Settlements (BIS).

By Bernard Mutitu , Senior Product Manager

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OTC compliance

OTC Market Regulations: A Complex Landscape

Over-the-Counter (OTC) markets are decentralized marketplaces where securities, commodities, and derivatives are traded directly between buyers and sellers without going through a centralized exchange. These markets are often characterized by their lack of standardized trading platforms and regulations.

By Ellie Edwards , Content and PR Lead

Energy & Commodities

The push and pull in the global battery metals market

In the last ten years, critical minerals have climbed the agenda for governments and companies as key components of the energy transition.

By Victor Laurent , Head of Energy & Commodities Data Products

Global Economy

Government Debt: The Perfect Storm for the Global Economy

By Bernard Mutitu , Senior Product Manager

Bond Markets

China’s central bank moves to dampen bond frenzy

As China’s economy slows, national regulators are keeping a wary eye out for any financial instabilities that may lead to a crisis. The latest concern is the $4 trillion bond market, which is seeing increased activity as investors look for a safe haven from the damaged real estate market and volatile shares.

By Gigi Tan , Senior Product Manager

2024 Results

TP ICAP Group PLC Half Year Results 2024

Our 2024 half year results.

By Ellie Edwards , Content & PR Lead

European Market

Derivatives are key to Europe’s competitiveness, resilience and sustainability agenda

The derivatives market plays a key role in ensuring efficient performance of markets and mobilisation of capital, encouraging liquidity, competition and economic growth, according to the chief executive of the International Swaps and Derivatives Association (ISDA).

By Ovie Koloko , Chief Product Officer

LNG

LNG market reaches ‘fragile equilibrium’, but uncertainties abound

The IGU’s report found that the lack of spare supply in the near-term was providing a fragile stability to the market for now, with trade reaching a record level of 401.42 million metric tonnes in 2023, growing by 2.1% from the previous year, supported by high spot purchases from a gradual decline in prices.

By Victor Laurent , Head of Energy and Commodities Data Products

US money markets

SEC rules hit billion-dollar institutional prime money market funds

The SEC’s new rules for US money markets could significantly cut the number of institutional prime money market funds, even as money market assets climb on the news that the Fed will keep interest rates higher for longer.

By Ovie Koloko , Chief Product Officer

OTC MARKET DATA

Navigating risk in the OTC space with enhanced market data

How can access to more reliable market data help participants in the OTC derivatives market navigate liquidity risks and identify market opportunities in an evolving sector?

By Jonathan Cooper , Chief Revenue Officer

OTC Market Data

Enhanced data access can support greater opportunities in 2024

Chapter two of our survey testing the temperature of the global OTC derivatives market reveals high levels of optimism that innovation can be a game changer for the space. However, more expansive data – including centralized information systems – are needed to unlock the full potential of the market.

By Ovie Koloko , Chief Product Officer

India FX

New FX exchange derivatives rules in India may increase OTC activity

India’s new rules on the use of FX exchange derivatives came into force in May, prompting much speculation on the effects of this “new” policy.

By Gigi Tan , Senior Product Manager

Technology

Transforming Technology Infrastructure

Technology is essential in supporting the enormous and growing global OTC derivatives market which had a total notional outstanding of $714.7 trillion at the end of June 2023; 13.1% higher than mid-year 2022 and 15.7% higher compared to year-end 2022.

By Ben Humphreys , Head of Data Engineering

OTC Market Data

Can technology support OTC market growth?

A fresh wave of technological innovation has swept the OTC market in recent years, with tools like AI, machine learning and blockchain poised to potentially transform the market. But is tech alone enough to move the needle on market progress?

By Roland Anderson , Chief Information Officer

Liquidity

Intervention becomes standard procedure in bond markets

Where once the bond markets were considered somewhat immune to the vagaries of the wider financial markets and the volatility of the global economy, in recent years, the story has been very different.

By Glenn Wright , Head of Capital Markets Data Products

Inflation

UK and US Inflation Battle

All the signs were pointing towards interest rate reductions as inflation came back under control in the US and UK, but recent figures have shown that the level remains stubbornly high. However, it’s a different picture on the opposite sides of the pond.

By Bernard Mutitu , Senior Product Manager

US Settlement

US Move to T+1 puts Pressure on Europe

At the end of May, the US will move to T+1 settlements, halving the time it takes for securities settlements to clear.

By Ovie Koloko , Chief Product Officer

Japanese Economy

Making the Most of Market Volatility

As Japan ends its 17-year period of negative interest rates, market volatility is expected as the policy beds in. We look at how market participants can use Interest Rate Swap Volatility indices to their advantage.

By Rhys Spencer , Head of Sales, Asia

Liquidity

Liquidity Challenges and How to Navigate Them

Liquidity is a persistent challenge for OTC derivative market participants. Effective risk management practices driven by in-depth data is paramount if businesses are to navigate the unpredictable waters ahead.

By Ovie Koloko , Chief Product Officer

OTC Data

The True Cost of Free Market Data

Composite data is readily available for the OTC derivative markets but a lack of depth, breadth and independence means free information may fail to deliver the insight participants need to secure a competitive edge

By Ellie Edward , Content and PR Lead

Order Data

Surveillance Surge: The Price of Non-Compliance

Multi-million-dollar fines are the outcome for firms found to be violating trade surveillance rules and as regulators make robust recordkeeping and data management a priority, OTC market players need to do the same.

By Steven Holland , Head of Regulatory Products

Economy

The US Economy: Soft Landing or Hard Fall?

At the end of 2022, the consensus was that there was little hope of the US avoiding a recession. But what a difference 12 months makes. Now, there are a growing number of observers who think that the Fed may have pulled off what it has so often failed to do before - the extremely difficult task of reigning in the economy enough to soften inflation without spurring recession

By Glenn Wright , Head of Capital Markets Data Products

LNG

Unexpected Change in the LNG Market

US President Joe Biden’s unexpected ban on new LNG export permits to non-free trade agreement (FTA) countries will have significant impacts across the market. While existing LNG projects will continue, the temporary pause will cause an imbalance on supply and demand domestically and locally, as well as triggering price volatility on the forward curves.

By Victor Laurent , Head of Energy and Commodities Data Products

2023 Results

TP ICAP Full Year Results 2023

Our 2023 results.

By Ellie Edwards , Digital & Social Media Marketing Manager

Indices

The democratisation of OTC derivative indices

The OTC derivatives market is an important tool for investors managing the impact of interest and inflation rate volatility yet their ability to understand swap pricing and valuations has been limited. We hear how innovation in OTC derivative indices is creating a fairer market for all.

By John Williams , Product Manager - Benchmarks & Indices

Indices

Interest Rate Swap Volatility Indices

Model-free measure of spot implied volatility in the world’s major interest rate swap markets.

By Ellie Edwards , Digital & Social Media Marketing Manager

SOFR Swaps

SOFR Swaps Analysis

According to Clarus, in the crucial spreadover market ICAP maintained its position as the leading broker with 48% share while the balance of 51% is traded on the other 5 SEFs combined.

By Glenn Wright , Head of Capital Markets Data Products

Indices

Macroeconomic Outlook

Persistent inflation has been the scourge of central banks for two years and monetary policy committees have been forced to drive up interest rates in a bid to bring spiralling prices under control.

By Ovie Koloko , Chief Product Officer

FRTB

A Model Approach to FRTB Requirements

Banks face stringent new rules on how they calculate capital requirements, yet until now have lacked sufficient data to underpin how they model this.

By Steven Holland , Head of Regulatory Products

2024 Oil Outlook

2024 Oil Demand Remains Muted

The economic headwinds in 2023 have hit both oil demand and prices, despite OPEC's best efforts to keep prices high. Will constantly high interest rates continue to have a negative impact on oil demand and prices throughout 2024?

By Tamas Varga , Senior Oil Analyst

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Tullett Prebon Japan Bloomberg Pages Overhauled

New Bloomberg Japan pages, featuring new 66 new curves

By Gigi Tan , Product Propositions Manager

LNG Indices

LNG: Trading, Transformation and Transition

LNG is a blueprint for future “fuels” to be reimagined in how they are created, stored and moved around the world on a path to full global energy transition.

By Elizabeth Russell , Business Development Manager - Energy and Commodities

Our team discusses generative AI, machine learning and more with AWS

Parameta Invited to Amazon Web Services Innovation Ambassadors Podcast

Parameta Solutions engineers and governance team joins AWS to discuss how generative AI supercharges our data solutions

By Mary Yiannouzis , Marketing Director

OTC derivatives

The Evolution of OTC Derivative Indices

The OTC derivatives market is an important tool for investors when hedging risk and generating yield, and has been particularly pertinent in helping investors manage the impact of recent interest and inflation rate volatility.

By John Williams , Product Manager - Benchmarks and Indices

Digital Assets Report 2023

Building the Markets of the Future

TP ICAP Digital Assets team sponsor think tank report.

By Mary Yiannouzis

Libor Transition

Libor Transition: Five Points Firms Still Need to Consider

The questions you need to think about as the final transition takes place.

By Bernie Mutitu , Senior Product Manager - Global Broking Products

Inflation

Will Investors Turn To The OTC Derivatives Markets To Satisfy Demand For Inflation Hedges?

Bank of England rates announcement May 2023

By Anand Venkataraman , Head of Benchmark and Indices Product Management

Energy & Commodities

China’s Economic Woes Signal Bad News for the Oil Markets

China’s economic data delivered a grim reality check to those in the market that had expected the current malaise to be a crisis of confidence.

By John Evans , Market Analyst, PVM

Energy & Commodities

August Oil Markets Outperform Equities

Oil markets remain subdued but still managed to outperform equities, which suffered a further setback in August.

By Tamas Varga , Market Analyst, PVM

LIBOR transition

What is the Impact of SOFR on Capital Markets?

As the transition from LIBOR to SOFR gains momentum, regulatory agencies, market infrastructure firms and market participants are collaboratively working towards a seamless migration.

By Mary Yiannouzis , Marketing Director

Global Macro Hedge Fund

A Global Macro Hedge Fund Needed Unique Data to Feed New Strategies

A move to fixed income trading needed unique data to support new investment models

By Patricia Warrick