Multilateral trading facilities (MTFs) and exchanges are on the verge of igniting a tick size war that could decrease market efficiency and prove detrimental to investors searching for liquidity in European stocks.
While there has been much focus on improving pre-trade transparency in post-MiFID Europe through the introduction of a European best bid and offer (EBBO) data feed, fragmentation of post-trade data is also causing headaches for buy-side traders, prompting calls for a single, centralised source of trade reporting information.
SecFinex, a European electronic trading platform for securities finance, has announced the launch dates for central counterparty (CCP) services for stock lending and borrowing on the SecFinex Order Market.
German exchange group Deutsche Börse will introduce a new pricing model for users of its Xetra electronic trading system from 2 November in response to what it describes as the increasing price-sensitivity of equity trading.
Nasdaq OMX Europe, a pan-European multilateral trading facility (MTF) owned by global exchange group Nasdaq, has introduced a rebate scheme that will reward participants for posting a certain amount of liquidity on the platform.
Global brokerage Newedge has named Nicolas Breteau, previously the firm’s CEO for Europe and Middle East, as global head of sales and front office. He will remain on the group executive committee.
In a move that could see them capture additional market share from incumbent exchanges, two multilateral trading facilities (MTF) are this week stepping up their efforts to adopt standardised tick sizes across European trading venues.
Agency brokerage Bloomberg Tradebook has released a new tactical trading algorithm that enables traders to ladder, scale into or exit futures and FX trading strategies.
Tullett Prebon Information (TPI), the market data division of inter-dealer broker Tullett Prebon, has made its historical tick-based price data available through information services provider Thomson Reuters’ Datascope Tick History (RDTH).
BATS Europe, a US-exchange backed multilateral trading facility (MTF), will become the first alternative venue in Europe to compete with domestic exchanges for trading after the close.