Whether or not buy-side traders in Asia-Pacific believe best execution is best served in 2009 by directing more flow to agency brokers is a moot point. But it is undeniable that execution-only brokerage is an increasingly competitive space in the region.
The London Stock Exchange (LSE) has abandoned its plans to introduce contracts for difference (CFD) trading on its order book because of the current economic climate.
US equities trading platform Direct Edge has criticised calls for a “modified uptick rule” to prevent abusive short-selling of US equities, arguing that such restrictions could limit liquidity and create greater selling pressure in a falling market.
Link Up Markets, the joint venture between eight European central securities depositories (CSDs), has announced the successful launch of its operations on 30 March.
Tradeweb, a provider of trading platforms and technology, has launched Smart IOI, a tool for sending targeted indications of interest (IOIs) to buy-side traders for equity trades.
BATS Exchange, a US trading venue that gained exchange status last November, has added new real-time tools to give its members more control over the sponsored access capabilities they grant to their clients.
The ability to stitch together the liquidity residing in both public dark pools and brokers’ internal crossing engines is high on many European buy-side traders’ wish lists. But while some trading venues are responding by establishing dark pool aggregation services, regulatory and commercial hurdles could hamper progress.
The London Stock Exchange (LSE) has scrapped a controversial routing fee it was charging other venues for sending trades to its order book, less than five months after it was introduced.
Investment bank Citi has launched an electronic equities execution service, Automated Trading, and execution algorithms in Malaysia, allowing the firm’s global clients to send electronic orders to Bursa Malaysia, the country’s national stock exchange.
Baikal, the dark pool currently in development by the London Stock Exchange (LSE), plans to offer both continuous and random periodic crossing on its order book in addition to its onward routing functionality, and is continuing its search for broker investment.