Equities

Australia extends shorting ban in response to bank stock volatility

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.

Liquidnet Europe to fight trading slump with new products

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 offers post-trade services to Chi-X and Turquoise

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).

Direct Edge reveals timeline for exchange offering

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.

Market still needs electronic trading staff despite lay-offs

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 abandons talks with “counterparty”

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.