While the volume-weighted average price (VWAP) algorithm has been a mainstay of the buy-side’s trade execution arsenal for many years, it appears many traders are now turning their backs on an old favourite. Algorithm providers are reporting a sharp decline in their clients’ usage of VWAP tactics.
US equities block trading platform Pipeline is planning to start trading across Europe from Q2 this year. The firm is in the final stages of the authorisation process for its new European platform with the Financial Services Authority, the UK’s financial regulator.
Agency broker and technology provider ITG said its POSIT crossing network can execute trades in equities from the Czech Republic, Hungary and South Africa.
Turquoise, a pan-European multilateral trading facility backed by nine of the largest investment banks, faces a battle to maintain its market share in European equity trading from this week as its market-making agreements expire.
Financial services firm RBS has said its global equities business, including electronic trade execution services, will be a vital part of its strategy as it looks to rebuild after massive losses and part-nationalisation.
The Australian Securities and Investment Commission (ASIC), Australia’s financial regulator, has further extended its short selling ban for financial stocks due to continued volatility.
Itau Securities, the broking arm of Brazil’s Bank Itau, is to offer its global clients direct market access (DMA) to the Sao Paolo equities and futures exchange using an electronic trading platform from NYSE Technologies.
The buy-side has expanded its use of execution algorithms for equity trades, despite difficult trading conditions and evidence of a return to high-touch trading methods, The TRADE’s 2009 algorithmic trading survey has found.