Program Trading

Market makers are more effective than electronic order books in delivering price improvement on Nasdaq-listed stocks, according to a new report by financial research and consulting firm Celent.

Tora Trading Services, an electronic trading solutions provider for Asia, has appointed Peter Lewis as managing director of Tora’s New York office.

Investment bank UBS has outlined plans for expansion in its Middle East operations to help accelerate its growth in the region.

QuantHouse, a trading solutions provider, has announced that Société Générale Asset Management Alternative Investments (SGAM AI) is to use QuantFACTORY to develop, back-test and execute trading models.

Business communications provider Colt is to provide low latency access to pan-European multilateral trading facility (MTF) Turquoise.

A combination of high levels of automation, soaring market data volumes and cut-throat competition have turned trade execution in the US equity markets into a “complex science”.

The Nasdaq OMX Group has started customer testing for its pan-European multilateral trading facility (MTF), scheduled to launch in September.

The Chicago Board Options Exchange (CBOE) and the Korea Exchange (KRX) have signed a memorandum of understanding to establish a collaborative business relationship.

The Markets in Financial Instruments Directive (MiFID) has not caused any “evident deterioration” in trade execution performance in Europe’s equity markets, according to a best execution policy

The ability of traders to compare the value provided by the array of US market venues is “limited at best”, according to a new report from research firm Aite Group.