Clearing, settlement and execution broker Penson Worldwide has become the first sponsoring participant in pan-European multilateral trading facility (MTF) Nasdaq OMX Europe’s sponsored access programme.
Global exchange group Nasdaq OMX has launched Market Replay Europe, a tool that allows market participants to replay and analyse equity trading activity across 17 European venues in simulated real time.
Seven European exchanges and four multilateral trading facilities (MTFs) have agreed to adopt a common tick-size regime proposed by the Federation of European Securities Exchanges (FESE) as part of a continuing effort to harmonise tick sizes across the continent.
Global broker Citi has chosen technology provider TradingScreen’s TradeSmart as its new buy-side execution management system (EMS), replacing the existing LavaX system.
Consolidation of Europe’s multilateral trading facilities (MTFs) is “inevitable” despite predictions by research consultancy Aite Group that they will account for half of European share trading “within the next four to five years”.
Cogent Consulting, a US-based provider of commission management systems, has broken off negotiations about being acquired by a consortium of six global broker-dealers.
The London Stock Exchange (LSE) said it is on track to launch the smart order routing function of its Baikal dark pool and liquidity aggregation service this week following regulatory approval by the UK Financial Services Authority (FSA).
Users of agency broker and trading technology provider Neonet’s execution management system can now access global investment bank UBS’s suite of equities execution algorithms and DMA capabilities.
On the face of it, many of the complexities associated with routing an order to the venue that will deliver best execution are eliminated in the US by rule 611 of Reg NMS.