News

Agency broker Instinet has appointed Glenn Lesko, previously head of its US-based international trading group, as the new CEO of its Asian operations.

FTEN, a US-based provider of sponsored access trading technology to high-frequency firms and sponsoring brokers, has established a European division and hired Valerie Bannert-Thurner as European executive director. The division will be based in London, UK.

While equity trading costs per transaction in Europe have fallen considerably since 2006, the costs per traded value have increased, according to a study published by the European Commission.

BATS Europe, the multilateral trading facility (MTF) owned by US-based exchange group BATS Global Markets, has set a date for the launch of its dark pool and revealed that it will use a maker-taker pricing model.

Turquoise, a pan-European multilateral trading facility (MTF) backed by nine investment banks, is aiming for a 6-7% market share of pan-European trading by the end of this year, having shown further signs last week of recovering from the loss of its market-making agreements in March.

The London Stock Exchange Group’s revenues in the quarter ended 30 June were £161.9 million, a 5% increase over the £153.1 million reported in the previous quarter, but 8% down on the same quarter last year.

Exchange group NYSE Euronext turnover in FTSE 100 UK blue-chip stocks overtook that of the London Stock Exchange (LSE) in June, according to new monthly market share statistics that market data vendor Thomson Reuters says highlight flaws in the post-MiFID trade reporting infrastructure.

The London Stock Exchange (LSE)’s decision to abandon its maker-taker pricing structure from September – exactly a year after it was first introduced – has won praise from some brokers, but has left others scratching their heads about the apparent u-turn.

Advanced Execution Services (AES), the electronic trading division of global investment bank Credit Suisse, has added a block trading feature to its Crossfinder internal crossing network in Australia.

Alternative Execution, the electronic and portfolio trading division of London-based agency brokerage Execution, has added Israel to the emerging markets where it offers trading services.