Swiss financial services conglomerate SIX Group has hired Christian Katz as CEO of its cash markets division and CEO of the SIX Swiss Exchange, effective from May 2009. He will also join SIX Group’s executive board.
Agency broker Bloomberg Tradebook has launched two new algorithms in Europe – Smart Order Algorithmic Routing (SOAR) and Lock-Cross Eliminator – which aim to help clients find and aggregate liquidity in the region’s increasingly fragmented equity markets.
Chi-X Canada ATS, an alternative trading venue for Canadian equities, will launch a month-long inverted maker-taker pricing structure in an effort to attract new business to the platform.
Cash and derivatives broker MF Global has expanded its over-the-counter energy brokerage in Singapore as well as its equity derivatives team in Hong Kong.
The London Stock Exchange (LSE) has hired Mark Ryland as chief technology officer of Baikal, the exchange’s European equities dark pool, scheduled for launch in Q2 this year.
US-based exchange operator NYSE Euronext and BIDS Trading, a broker-dealer and alternative trading system operator, hope to revolutionise block trading in the US with the New York Block Exchange (NYBX), their new dark pool joint venture.
The turnover on German stock exchange group Deutsche Börse’s cash equities market fell to EUR 90 billion in January 2009 from EUR 307.8 billion in January 2008 – a year-on-year decline of 70%.
Two pan-European central counterparties (CCPs) – European Multilateral Clearing Facility (EMCF) and SIX x-clear – have signed a memorandum of understanding that will allow multilateral trading facilities (MTFs) to offer members a choice of clearing services.
Instinet Europe, the European arm of the agency brokerage owned by Japan’s Nomura Holdings, has connected to Smartpool, the non-displayed multilateral trading facility from exchange group NYSE Euronext.
The re-introduction of competition in the US equities clearing space will not create additional complexity and cost, according to Brian Hyndman, senior vice president of transaction services at US exchange group Nasdaq OMX.