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.
While progress has been slow on achieving interoperability between Europe’s cash equity central counterparties (CCPs), it is unlikely that the European Commission (EC) will step in and mandate links between clearing houses any time soon for fear of causing more job losses across the continent.
Japanese investment bank Nomura has launched a new pan-Asian electronic trading platform for equities, integrating the execution capabilities it acquired from its takeover of Lehman Brothers Asia last September.
Sell-side institutions that direct client flow via smart order routers are unlikely to use the London Stock Exchange’s (LSE) proposed hidden or dark order types because of the restrictions imposed by MiFID’s large in scale (LIS) rules.
Fidessa LatentZero, a front-office software provider, has credited the 60% increase in users of its EMS Workstation execution management system in 2008 to the buy-side’s growing need to connect to more trading venues, particularly across Europe.
Pan-European multilateral trading facility Nasdaq OMX Europe has hired Stuart Rutherford, currently head of trading services at UK stock exchange PLUS Markets, as head of sales.
Canadian equities trading platform Alpha ATS processed trades representing more than 10% of the volume and over 16% of the value of all Toronto Stock Exchange-listed securities across all Canadian transparent marketplaces on February 18.
Two links have already been forged between European central counterparties (CCPs), and more are being worked on amid growing demand for trading platforms to have multiple clearing houses.