Goldman Sachs sees pressure on equities commissions as retail brokers slash rates
David Solomon, CEO of Goldman Sachs, says zero commission trading for institutional investors is unlikely, but acknowledged pressures on commission rates.
Equities
LSEG completes first trade on new Global Equity Segment with Huatai Securities
The LSEG cross-border initiative, known as the Global Equity Segment, aims to use London as a global trading bridge between Asia and the Americas.
Little evidence of closing auctions deteriorating price formation, says AMF
Activity in closing auctions has surged across Europe, but a study from France’s AMF says the concentration of volumes at the end of the day has not affected price formation.
big xyt unveils new data platform for fragmented equity market
Fidessa’s former group strategy director, Steve Grob, will work with big xyt on the equity market data platform.
Cowen hires former Deutsche Bank EMEA execution services team
Deutsche Bank’s head of EMEA execution services Matt Cyzer has been named CEO of Cowen Execution Services, with six of his colleagues also joining the broker-dealer.
Market makers not responsible for US equity market volatility, says Citadel Securities
While many market participants are quick to point to market makers in times of market volatility, Citadel Securities says electronic liquidity providers are not to blame.
Deutsche Bank begins prime brokerage migration process with BNP Paribas
The two firms agreed on a deal in principle in July as part of the German bank’s major restructuring and a complete withdrawal from equities trading,
Numis Securities implements Torstone platform for post-trade operations
Numis Securities has signed a multi-year contract with Torstone Technology to overhaul its post-trade equities operations.
Hong Kong exchange puts in £32bn bid to buy the London Stock Exchange Group
Proposed mega deal would see two of the world’s largest market infrastructure groups combine as Hong Kong exchange chief proposes connecting ‘East to West’.
Goldman Sachs expands MTF data distribution with QuantHouse
QuantHouse has expanded its API Ecosystem with market data from the Goldman Sachs SIGMA X MTF, including indicative auction quotes.