Have benchmark-hitting algorithms such as VWAP had their day? While more sophisticated, liquidity-seeking strategies might seem more suited to today’s unpredictable trading environment, responses to theTRADEnews.com’s March poll tell a different story.
French investment bank Société Générale Corporate & Investment Banking (SocGen CIB) has launched Alpha x Europe, an internal crossing engine for buy-side client order flows, in response to buy-side concerns about market fragmentation, rising trading costs, and gaming in dark pools.
EuroCCP, the European central counterparty service operated by US clearing house DTCC, has reduced its clearing and risk management fees to attract more business to the trading platforms it supports.
Atrium Network, a financial connectivity provider, has added agency brokerage Instinet Europe to its extranet community, granting the broker low-latency connectivity to multilateral trading facilities
US trading venues BATS Exchange and Direct Edge put further competitive pressure on their traditional exchange rivals, Nasdaq OMX and NYSE Euronext, this week by announcing fee cuts on the same day.
Buy-side firm Ignis Asset Management has selected smart order routers (SORs) from five brokers for the first phase of its SOR implementation following an extensive provider review, according to Betsy Anderson, the company’s head of centralised dealing.
BATS Europe, a pan-European multilateral trading facility backed by US exchange BATS, grabbed more European market share than rival platform Turquoise for the first time this week, as the loss of Turquoise’s market-making agreements took hold.
Goldman Sachs Electronic Trading (GSET) has added new features to its US listed options offering, including three new algorithms and the ability to auto-hedge options orders.
Pan-European MTF Turquoise will introduce a new maker-taker tariff structure on 1 April to help combat the fall in trading market share suffered since its market-making agreements with founding banks expired on 13 March.