Following yesterday’s news that European trading platform BATS Europe had added LCH.Clearnet Ltd as a central counterparty (CCP) for UK and Swiss stocks, fellow multilateral trading facilities (MTFs) NYSE Arca Europe and Chi-X Europe now plan to use LCH to clear their trades in addition to their existing CCPs.
The European trading community must factor the liquidity won by multilateral trading facilities into trading strategies and indices to enable continuous trading during an exchange outage.
BATS Europe, the European trading platform owned by exchange group BATS Global Markets, has selected LCH.Clearnet Ltd, the UK division of European central counterparty (CCP) group LCH.Clearnet, to clear the UK and Swiss securities traded on its platform.
Agency broker and trading technology provider Bloomberg Tradebook has launched Global Tradebook Trade Analytics (GTTA), a tool that helps users find liquidity in fragmented markets, in Europe.
SIX Swiss Exchange, Switzerland’s national stock exchange, has completed the transfer of trading in Swiss blue-chip stocks to its main exchange in Zurich from SWX Europe, its London-based trading platform.
Readers of theTRADEnews.com have voiced their dissatisfaction with bulge-bracket brokers in the results of our latest monthly poll. Only 7% indicated that they were planning to shift more orders to full-service houses, while the vast majority – 75% – said they would be directing more flow to agency brokers.
LCH.Clearnet SA, the French arm of European clearing provider LCH.Clearnet, plans to cut fees for NYSE Euronext, Bourse de Luxembourg, Equiduct and NYSE Euronext’s SmartPool multilateral trading facility (MTF) by 30% from 1 July 2009.
US equities trading venue BATS Exchange will pay a rebate to firms removing liquidity from its order book under certain conditions as part of its new routing and execution fee schedule, which takes effect today.
Transatlantic exchange group NYSE Euronext yesterday reported increased trading volumes in its US cash equities business in the first quarter, but a slump in the corresponding activity in Europe over the same period, underscoring the structural differences between the two markets.
Burgundy, a multilateral trading facility (MTF) for Nordic stocks backed by a consortium of the region’s banks and securities trading firms, has selected Transaction Network Services (TNS) for connectivity services.