US equities trading venue BATS Exchange will pay a rebate to firms removing liquidity from its order book under certain conditions as part of its new routing and execution fee schedule, which takes effect today.
Two US trading venues, equities platform Direct Edge and options exchange International Securities Exchange (ISE) – which owns 31.54% of Direct Edge – will introduce new fee schedules on 1 May that offer more attractive pricing.
Block trading venue Pipeline Financial has completed a deal to buy the assets of US block trading options firm 3D Markets, to foster institutional block crossing for US options trades.
BGC Partners, an interdealer broker, has struck a deal with BNY ConvergEx to offer the agency brokerage’s electronic, portfolio and sales trading capabilities for equities, fixed income and US-listed options to its customers.
Joanne Kinsella, appointed head of portfolio at BT Global Financial Services (GFS) in February, has left the telecoms group to join Kevin Covington, her immediate predecessor, at ITRS Group, a provider of operational systems management tools to the finance sector.
NYSE Euronext chief executive Duncan Niederauer recently dismissed March’s 8.5% rise in the S&P 500 index, its best monthly performance since October 2002, asserting that the “real money investors are still waiting”.
Alternative trading systems (ATSs) will gain around a 40% market share of Canadian equities trading by 2012, estimates research and advisory firm Aite Group in a new report.
Exchange group Nasdaq OMX has introduced a new pricing structure for trading in US equities in a bid to maintain market share against stiff competition.
The Depository Trust & Clearing Corporation (DTCC), the US’s central clearing provider, has appointed Daniel G. Faryniarz, a former Merrill Lynch executive with experience in fixed income and derivatives sales, to the newly-created position of managing director, market structure and industry relations.