Equities

Nasdaq OMX Europe, an exchange-backed multilateral trading facility, has introduced a new onward routing strategy, reinforcing the value of redirecting trades to its business model.

Reliance Globalcom, a managed network and application delivery services provider, has connected its ethernet-based financial extranet FinancialConnect! to multilateral trading facilities (MTFs) Chi-X Europe, Nasdaq OMX Europe and BATS Europe.

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, 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 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.

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, 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.

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.

Morgan Stanley has introduced new electronic trading functionality for clients that trade on the Mexican Stock Exchange (BMV) and the Mexican Futures Exchange (MexDer).

Smartpool, a European non-displayed trading venue operated by exchange group NYSE Euronext, will start trading on 2 February 2009, subject to approval by the Financial Services Authority (FSA).