Whatever else its legacy might be, the noughties was a decade that revolutionised how the buy-side executed trades in the global equity markets. To put the scale and nature of the shift from voice-broked to electronic trading into context, theTRADEnews.com asked six influential industry figures to chart the milestones reached and the benefits achieved, as well as the challenges to come.
Netherlands-based European trading platform The Order Machine (TOM) has chosen European Multilateral Clearing Facility (EMCF) to act as its central counterparty (CCP) clearing provider.
Dubai Financial Market (DFM), the exchange subsidiary of government-owned holding company Borse Dubai, has agreed a deal to purchase Nasdaq OMX’s stake in Nasdaq Dubai.
Chi-Tech, the technology services unit of trading venue operator Chi-X Global, has announced that Dutch investment firm ABR Financial will use its MarketPrizm infrastructure to power its automated trading strategies.
Deutsche Börse Systems, the IT subsidiary of Deutsche Börse, has signed up to use a latency management and reporting service from Corvil, a supplier of electronic trading latency monitoring tools.
Patsystems, a derivatives trading solution provider, has launched connectivity services to EDX London, the equity derivatives exchange operated by the London Stock Exchange Group.
Interactive Data, an analytics and market data provider, is to start supplying real-time market data from Nasdaq Dubai using XData, a market data solutions provider for the Middle East and Africa.
Inconsistent and inaccurate post-trade reporting in Europe has been the bane of buy- and sell-siders’ lives since the introduction of MiFID in November 2007. Trying to piece together an accurate view of trading activity in Europe is almost impossible, causing difficulties for portfolio managers trying to determine volume and price limits for an order, and for traders using transaction cost analysis tools to measure execution performance.
The London Stock Exchange (LSE) has agreed to purchase investment bank-owned pan-European multilateral trading facility (MTF) Turquoise and create a new venture through the merger of Turquoise and the LSEs Baikal initiative.
Peter Randall, the new CEO of pan-European trading venue Equiduct, has said his main priority will be to make sure the firm’s value proposition is clearly understood by market participants.