The Committee of European Securities Regulators (CESR) is planning to take a more active role in decisions about granting pre-trade transparency waivers to dark trading venues.
Fidessa LatentZero, a front-office software provider, has integrated Japanese investment bank Nomura’s ModelEx suite of algorithmic order execution strategies into its Minerva order and execution management system (OEMS) and EMS Workstation trading applications for the buy-side.
Turquoise, a broker-backed multilateral trading facility, has become the second European trading venue in a matter of days to announce discussions with regulators over its dark trading functionality.
Global buy-side crossing network Liquidnet has started offering its members trading in global depository receipts (GDRs) listed on the Luxembourg Stock Exchange.
Exchange group Nasdaq OMX has revealed plans to start trading equities listed in Norway from 23 March, pitting itself against Oslo Børs, the country’s incumbent exchange. Oslo Børs has returned fire with plans to cut trading fees.
The results of February’s theTRADEnews.com poll reveal that 72% of readers will make greater use of dark liquidity this year. But volatility and reduced trade sizes mean traders will have to be more wary about how they use this increasingly important liquidity source.
Trading systems provider Fidessa has added 13 Asia-Pacific markets to the global trading service on its US-hosted execution platform in response to increasing Asian trading volumes and US brokers’ growing desire to participate in the region.
While US high-frequency traders enjoyed a bumper year in 2008 and now account for the majority of average daily trading volume in the US, declining hedge funds volumes and regulatory change could threaten future performance, according to Sang Lee, co-founder of research consultancy Aite Group.
Pipeline Trading Systems, a US block trading venue, has unveiled PowerPlay, an equities block-trading execution system for buy-side traders who want to execute large orders in volatile and fragmented markets.