Any consolidation among Europe’s multilateral trading facilities (MTFs) will find few parallels with the acquisition of US ECNs by exchange groups in the mid-2000s, according to Larry Tabb, founder and CEO of research consultancy TABB Group.
UK financial regulator the Financial Services Authority has issued a statement outlining its concerns about the practice of ‘layering’ or ‘spoofing’ – submitting orders without the intention to trade – in exchange order books by traders using brokers’ direct market access services.
BATS Europe, the pan-European multilateral trading facility (MTF) operated by US exchange operator BATS Global Markets, boosted its market share of FTSE 100 stocks on the first day of its new inverted price promotion for UK equities.
Matthieu Chardot has been handed the role of head of European execution sales at BNP Paribas, following the departure of Alexandra Foster to agency broker Instinet Europe earlier this month.
Societe Generale is planning to extend its direct market access and algorithmic trading capabilities to Dublin-listed stocks, following its admission as a member firm of the Irish Stock Exchange.
Exchange group Deutsche Börse has selected technology provider IBM’s high-speed messaging platform to underpin its three exchanges as part of an ongoing series of improvements to its technology infrastructure.
Quote MTF, a new pan-European multilateral trading facility (MTF), will have significant liquidity from its 4 September launch after signing up a second market maker, according to board member Gabor Kutas.
Nasdaq OMX Europe, the pan-European MTF operated by global exchange group Nasdaq OMX, has no plans to change its BLNK routing strategy despite its parent’s withdrawal of FLASH, a similar strategy, in the US.
Quote MTF, a pan-European multilateral trading facility (MTF), has taken a step closer to its 4 September launch by finalising its stock rollout schedule.