The expected contraction of the hedge fund industry could lead to a liquidity drought in the equity markets, according to Ana Avramovic, portfolio strategist at Credit Suisse.
The Australian Securities & Investments Commission (ASIC), Australia’s securities regulator, has extended its ban on covered short-selling of the country’s financial stocks until 6 March because of recent increased volatility in overseas banking stocks, including the UK and US.
US institutional brokerage Concept Capital has hired Robert E. Moore, a former Citigroup executive, as managing director and head of its global institutional trading and research business.
Two market data solutions have been launched to improve transparency in Europe’s fragmented equity markets in the absence of a US-style consolidated tape.
Liquidnet Europe, a non-displayed multilateral trading facility for European equities, is hoping to counter the expected tough conditions in 2009 by signing up new clients, pushing into new markets and adding new functionality, according to John Barker, managing director of Liquidnet Europe.
Deutsche Bank’s transaction banking division has started offering clearing and settlement to multilateral trading facilities (MTFs) Chi-X and Turquoise as a general clearing participant of pan-European clearers European Multilateral Trading Facility (EMCF) and European Central Counterparty (EuroCCP).
US equities trading platform Direct Edge will launch a new trading system in Q4 this year, once the Securities and Exchange Commission (SEC) has approved the exchange applications for EDGA and EDGX, the firm’s two trading venues.
Although many buy- and sell-side firms are cutting jobs, there is still steady demand for electronic trading expertise, according to Marcus Newman, director and specialist in the electronic, algorithmic and program trading markets at recruitment firm Riversdale Consulting.
Neonet, a Swedish-based agency brokerage and technology provider, has called off cooperation talks with a “counterparty”, widely believed to be German stock exchange group Deutsche Börse.
US equities trading venue Direct Edge will extend the trading hours on its three platforms – EDGA, EDGX and the newly acquired ISE Stock Exchange – in response to international and local client demand.