Global exchange group Nasdaq OMX is to extend its trading hours for all asset classes on its Baltic exchanges, in a bid to generate greater trading activity and attract more foreign investors.
The restrictions imposed on short-selling financial stocks in the United States from 19 September to 8 October contributed around 20 basis points (bps) to the wider spreads experienced by affected stocks during the ban period, according to research by Credit Suisse’s Advanced Execution Services (AES) division.
Patsystems, a provider of derivatives trading solutions, has released AlgoServer, an algorithmic trading tool through which brokers can develop and distribute their proprietary execution algorithms to customers.
Eli Lederman, CEO of European multilateral trading facility Turquoise, has described the pricing scheme of rival trading platform Nasdaq OMX Europe as “untenable”.
German exchange Deutsche Börse has moved to adjust the weightings of its DAX index constituents ahead of schedule, after an extraordinary share price hike of carmaker Volkswagen (VW) since the start of the week.
The bankruptcy of Lehman Brothers has pushed counterparty risk back to the top of the buy-side trader’s agenda. According to Ian Yuill, a consultant at Investit, the fallout from the US Treasury Department’s refusal to bail out the US investment bank could haunt the financial markets for the next five years.
The time taken by buy-side traders to complete orders during recent volatile markets declined steeply compared to August, according to GSCS Information Services, a post-trade transaction cost analysis provider.