Mary Schapiro, chairman of the US Securities and Exchange Commission, has outlined the regulator’s proposals for reforming dark trading in a statement released before the SEC’s open meeting on ‘non-public trading interests’ this afternoon.
A new study from research firm Greenwich Associates has revealed that 57% of institutional investors would support new regulations governing high-frequency trading.
While Asia-Pacific lacks an equivalent of Europe’s MiFID or the US’s Regulation ATS, there is still strong impetus for the development of alternative trading venues in the region, according to John Lowrey, CEO of trading platform operator Chi-X Global.
A group of banks, dubbed the Lily consortium, has withdrawn its bid for European clearing house LCH.Clearnet because it has achieved its dual aim of blocking a rival offer and granting its members greater representation on the LCH board.
Brian Mitchell, head of dealing and transaction cost analysis at Baring Asset Management, will join rival asset management firm Gartmore as head of dealing in mid-January 2010.
Exchange group NYSE Euronext will allow US dark pools to print trades on the FINRA/NYSE Trade Reporting Facility and display their daily activity on the nyse.com website from next month.
Middle Eastern investment bank EFG-Hermes has said joining global FIX-based connectivity networks will allow it to improve handling of high-touch client orders by reducing the inefficiencies of manual trading methods.
Low-latency data provider ACTIV Financial has teamed with Japanese network and IT infrastructure provider KVH Co to offer high-speed market data dissemination to financial institutions in Japan.