New LSE promotion seeks to arrest market share decline
The London Stock Exchange plans to introduce a pricing promotion for UK equities and securities traded on its International Order Book in a bid to increase liquidity on its market.
News
Justham is latest FSA director to jump ship
Alexander Justham, director of markets at UK regulator the Financial Services Authority (FSA), has resigned and will leave the company next month. Justham does not have another job lined up.
UK right to sue ECB over clearing plan – law firm
A proposal by the European Central Bank to freeze out London's clearing houses from euro-denominated securities will seriously impede the City of London's competitiveness and the UK government is right to sue the Frankfurt-based central bank, according to a leading city lawyer.
Credit Suisse hires ex-Daiwa trading head in Japan
Credit Suisse has appointed Michael Mollemans as head of Advanced Execution Services for Japan.
Weeden summons Ghost to scare off predatory flow
US institutional broker Weeden has partnered with technology company Pragma to release Ghost, a new algorithm built to patiently work an order using a stock's price action as a primary driver for its execution speed.
Market manipulation cost global markets US$3.4 billion in Q2
The dollar cost of insider trading and market manipulation left global markets US$3.4 billion the worse for wear, according to Australian financial think tank Capital Markets Co-operative Research Centre.
CFTC Commissioner reveals Dodd-Frank will slip to Q4 2012
Scott O'Malia, Commissioner of US derivatives regulator the Commodity Futures Trading Commission, has confirmed the Dodd-Frank Act will take effect by the end of 2012 “at the earliest”.
FI working group for FIX gains SEF support
The Fixed Income Connectivity Working Group (FICWG), a body set up to encourage the use of the FIX Protocol for derivatives trading, has announced it will be supported by operators of fixed income trading venues.
Chi-X pips LSE in August trading turnover
Chi-X Europe saw more liquidity than any other European venue in August. With a total turnover of €213.8 billion last month according to figures from trade body the Federation of European Securities Exchanges, it was the first time the multilateral trading facility had reached top billing.
BM&F Bovespa chooses Nasdaq OMX for market surveillance
Brazilian exchange BM&F Bovespa and Brazilian self-regulatory organisation Bovespa Market Supervision are to use Nasdaq OMX's SMARTS Integrity market surveillance platform to monitor trading across their equities and commodities platforms.