Pan-European trading platform Turquoise has received approval from UK regulator the Financial Services Authority to launch TQ Channel, its non-displayed liquidity aggregation and routing service, in early July 2009.
Société Générale Securities Services (SGSS) is broadening its clearing offering to act as a general clearing member on three new multilateral trading facilities (MTFs).
Quote MTF, a Hungarian-based pan-European trading venue, is confident of securing liquidity from smart order routers (SORs) from launch because of its pricing model, which it claims will be the cheapest in Europe.
Pan-European equity trading venue Turquoise has set a date for the migration of its stocks to the common symbology framework for multilateral trading facilities.
European trading platform BATS Europe’s decision to replace European Multilateral Clearing Facility (EMCF) with UK clearing house LCH.Clearnet Ltd for UK and Swiss stocks could prompt EMCF to speed up its interoperability work, according to CEO Jan Booij.
The fragmentation of post-trade data for over-the-counter (OTC) equity trades in Europe is preventing effective transaction cost analysis and impairing the ability to observe best execution principles, according to market participants.
Exchange group Nasdaq OMX has signed a memorandum of understanding with European clearing houses SIX x-clear and EuroCCP to add the two firms to its central counterparty (CCP) service for Nordic stocks.
Pan-European equity trading platform Turquoise’s market share has started to show signs of recovery in UK blue chips following the expiration of its market-making agreements.
Goldman Sachs, Morgan Stanley and UBS, three of the world’s biggest brokers, have granted each other reciprocal access to their respective internal crossing engines in Europe – SIGMA X, MS POOL and UBS-PIN.