BATS data reveals rising market share for MTFs

Equities trading platform BATS Europe’s market share grew to 0.97% by value on 23 January from 0.85% on 16 January, according to the MTF’s new market share display facility, launched today.

Fidessa to open Middle East HQ

Fidessa, a provider of trading, compliance and connectivity solutions, has hired two new staff as part of its expansion in the Middle East, and plans to set up a regional headquarters in Bahrain.

NYSE and BIDS block trading venture approved by SEC

NYSE Euronext, the global exchanges group, and BIDS Holdings, a broker-dealer and alternative trading system operator, have received approval from the Securities and Exchange Commission to launch a new block trading venue.

Nasdaq OMX revises Nordic CCP plans

Exchange group Nasdaq OMX has delayed the launch of the planned central counterparty (CCP) for its exchanges in Copenhagen, Helsinki and Stockholm, and has scrapped plans to include Nordic-specific features in the CCP and establish a Nordic clearing fund in response to comments from members.

Turquoise price cuts may not reach buy-side

Turquoise, a broker-backed multilateral trading facility (MTF), has announced a new tiered pricing structure amid claims that buy-side traders are not benefiting from lower execution costs resulting from competition between European trading venues.

Exchange status to boost Direct Edge in 2009

US equity trading venue Direct Edge’s pursuit of exchange status for its two trading platforms, EDGA and EDGX, will put it on the same regulatory footing as its three biggest rivals – the New York Stock Exchange (NYSE), Nasdaq and BATS Exchange.

Buy-side lacks tools for portfolio trading – TABB

Buy-side traders are struggling to align their execution capabilities with the objectives of portfolio managers because of the single-stock focus of trading tools and execution venues, according to a new report from research and consulting firm TABB Group.

MTFs aim to lower Spanish trading costs

Chi-X, Turquoise and Nasdaq OMX Europe, three pan-European multilateral trading facilities (MTFs), are launching trading services in Spanish stocks which are expected to considerably reduce trading costs.