Nearly half of buy-side firms across Europe and the US are considering changing their OMS and EMS trading platforms, according to a study by research firm TABB Group.
Competition in the US equities clearing market could introduce both risk and cost to post-trade processes, according to Stuart Goldstein, managing director, corporate communications at The Depository Trust & Clearing Corporation (DTCC), the US’s central clearing provider.
SecFinex, an electronic trading platform for securities lending owned by exchange group NYSE Euronext, has teamed up with EuroCCP, a European post-trade service provider owned by US clearing house DTCC, to launch central counterparty (CCP) services for stock borrowing and lending across SecFinex’s UK Order Market.
US electronic trading venues improved their share of trading in NYSE-listed securities in the third quarter of 2008, according to research and advisory firm Celent, at the expense of exchange specialists.
The UK Financial Services Authority (FSA)’s decision last week to lift its ban on short-selling UK financial stocks but extend its disclosure requirements strikes the right balance between regulatory control and preservation of a vital market function, according to Arturo Bris, professor of finance at the Institute for Management Development (IMD), a Swiss business school.
Despite a sharp decline in European trading activity towards the end of 2008, multilateral trading facilities (MTFs) have sustained their overall market share, according to a report from investment bank Citi.
Trading technology provider Fidessa has expanded into Latin America by adding Brazilian investment bank Planner Corretora De Valores to its global network of buy- and sell-side firms.
Instinet Pacific, the Asia-ex Japan agency brokerage subsidiary of Instinet, has added Hong Kong equities to CBX ASIA, its off-exchange, displayed liquidity pool.
Turquoise, an investment bank-backed multilateral trading facility (MTF is now offering dark order types in its non-displayed order book, following consultation with UK regulator the Financial Services Authority (FSA).
BATS Exchange (formerly BATS Trading) and Direct Edge both reported increases in matched market share in December.