Interdealer broker ICAP’s nascent equities execution business, which launched 18 months ago, is aiming to pull itself out of the boutique space and become the world’s leading agency broker, according to Daryl Bowden, the unit’s co-CEO of Europe and Asia.
Importing into Europe established US crossing engine models that mix retail and institutional flow may prove a challenge, but two operators of such systems – Knight Capital and Citi – believe they can rise to it.
Bursa Malaysia has launched direct market access (DMA) capabilities for equities, which will allow investors to trade equities directly on the exchange through member brokers’ systems.
ConvergEx, a US agency brokerage and financial technology provider, has agreed to buy the US Transaction Services division of trading technology firm NYFIX, which includes the Millennium dark pool.
Pan-European multilateral trading facility Chi-X Europe will reduce fees for adding liquidity to its Chi-Delta non-displayed trading platform from tomorrow.
SIX Swiss Exchange will cut its fees for trading stocks in the SMI Swiss blue chip index next month, which could be seen as an effort to rebuild relationships with its biggest customers.
The London Stock Exchange has dedicated an entire floor of its central London data centre to clients of its Exchange Hosting co-location service, boosting capacity fivefold.
Asian agency broker and technology provider Tora Trading has integrated its order and execution management system TORA Compass with Tradar Insight, a portfolio management solution from hedge fund software provider Tradar.
The London Stock Exchange (LSE) will add hidden order functionality to its SETS and international order books on 1 December – almost nine months after the original planned launch date.
While lit and dark multilateral trading facilities (MTFs) have successfully taken market share from Europe’s incumbent exchanges, equity trading order flow could reconsolidate in a handful of venues as quickly as it fragmented, according to the latest report from consultancy Aite Group.