Bank of America Merrill Lynch (BoAML) has introduced a new low-latency direct market access (DMA) service that allows buy-side firms to choose between brokers to achieve cost-efficient connectivity across Japan’s exchanges.
NYSE Technologies, the commercial technology unit of exchange group NYSE Euronext, has been selected to provide the infrastructure for the proposed trading link between a group of exchanges from the Association of South-East Asian Nations (ASEAN) countries.
According to Paul Volcker, head of US president Barack Obama’s Economic Recovery Advisory Board, banks should have little trouble distinguishing proprietary trading and facilitation of client trades. “Every banker I speak with knows very well what ‘proprietary trading’ means and implies,” he told the Senate Banking Committee on 2 February.
Early indications are that Arrowhead, the new equities trading system implemented by the Tokyo Stock Exchange (TSE) on 4 January, is positively influencing equity trading volumes, but it may take longer for its effects to be fully evident.
The introduction of the high-speed INET trading platform at exchange group Nasdaq OMX’s Nordic exchanges next Monday, coupled with the introduction of central counterparty clearing and tick-size harmonisation last October, could significantly boost trading turnover, said Hans-Ole Jochumsen, president of Nasdaq OMX Nordic.
US trading venue Direct Edge now expects to complete its transition to exchange status by Q2 this year, as it awaits final approval from US regulator the Securities and Exchange Commission (SEC).
The importance of sell-side research and trade ideas will move ahead of execution for US buy-side firms in 2010 as they try to rebuild the confidence and trust of their retail investor clients, according to a new study from research and consulting firm TABB Group.
The Qatar Exchange has bolstered its senior management team with the appointment of three executive officers, two of which have held roles at US and European trading venues.
Paul Myners, the UK’s financial services minister, has said that US president Barack Obama’s plan to split banks’ risk-taking functions from their deposit-taking activities would not be sufficient to improve the stability of the global financial system alone.