BNP Paribas CEO Jean-Laurent Bonnafé says Deutsche Bank prime brokerage business transition is proceeding very swiftly, with restructuring costs expected to reach €100 million this year.
Cboe Market Close (CMC) will go live in March this year after the exchange gained approval to launch the mechanism last month.
Analysing billions of message data points from the LSE, the FCA claims eliminating latency arbitrage would reduce the cost of liquidity for institutional investors by 17%.
Cboe has gained approval from the SEC to operate an alternative closing auction mechanism, which threatens the monopoly primary exchanges retain on end-of-day trading.
Cboe Global Markets wants to implement the data feeds in multiple locations in a bid to reduce SIP latency, as debate on equities market data continues in the US.
As volumes seemingly continue to migrate towards the end of the trading day, Hayley McDowell investigates the rise of closing auctions in Europe and its impact on continuous trading for asset managers.
Following intense debate among market participants on the extensive costs of market data, incumbent exchanges could soon have less power over the consolidated tape in the US.
Murray Roos departs months after Citi moved to merge its equities, prime brokerage and securities services units.
Following the removal of Swiss equivalence in the European Union in July last year, Hayley McDowell examines the fallout of the political development and finds buy-side traders are benefitting from the substantial shift in market structure.
Citi aims to capture increased business from existing and prospective hedge fund clients by offering a full coverage of pre- and post-trade services.