News

Global buy-side crossing network Liquidnet has started offering its members trading in global depository receipts (GDRs) listed on the Luxembourg Stock Exchange.

Exchange group Nasdaq OMX has revealed plans to start trading equities listed in Norway from 23 March, pitting itself against Oslo Børs, the country’s incumbent exchange. Oslo Børs has returned fire with plans to cut trading fees.

Bulge-bracket broker Goldman Sachs has expanded its global equities crossing network, SIGMA X, to trade stocks listed on the Hong Kong Stock Exchange.

The results of February’s theTRADEnews.com poll reveal that 72% of readers will make greater use of dark liquidity this year. But volatility and reduced trade sizes mean traders will have to be more wary about how they use this increasingly important liquidity source.

Amidst shrinking budgets and the need for better trading and risk management technology at hedge funds, US institutional broker Concept Capital has launched CONCEPTONE, a front-to-back office services platform for hedge funds.

Trading systems provider Fidessa has added 13 Asia-Pacific markets to the global trading service on its US-hosted execution platform in response to increasing Asian trading volumes and US brokers’ growing desire to participate in the region.

While US high-frequency traders enjoyed a bumper year in 2008 and now account for the majority of average daily trading volume in the US, declining hedge funds volumes and regulatory change could threaten future performance, according to Sang Lee, co-founder of research consultancy Aite Group.

Euro Millennium, the pan-European dark pool for equities trading, has been asked by the UK’s financial regulator to make modifications to its functionality, according to a statement by parent company NYFIX, the US-based trading solutions vendor.

Pipeline Trading Systems, a US block trading venue, has unveiled PowerPlay, an equities block-trading execution system for buy-side traders who want to execute large orders in volatile and fragmented markets.

While progress has been slow on achieving interoperability between Europe’s cash equity central counterparties (CCPs), it is unlikely that the European Commission (EC) will step in and mandate links between clearing houses any time soon for fear of causing more job losses across the continent.