This summer will see the launch of yet another pan-European multilateral trading facility, Quote MTF, a Hungarian-based platform that will offer liquidity from third-party market-makers from launch.
European Multilateral Clearing Facility (EMCF), the Dutch-regulated central counterparty that clears trades for three UK-regulated MTFs, has been granted recognised overseas clearing house (ROCH) status by the UK’s regulator, the Financial Services Authority.
The average daily value of equity trades on the London Stock Exchange's (LSE) electronic order books fell 60% to £6.2 billion in January 2009 from the record average daily value reported in January 2008.
Investment Technology Group (ITG), a global agency brokerage and trading technology firm, has reshuffled its senior management following the departure of international CEO Alasdair Haynes.
Instinet Europe’s chief executive has claimed that many of MiFID’s benefits “are illusory to the end-investor”, despite the agency broker reporting that it had achieved an average of 5.72 basis points of price improvement for clients in Q4 2008.
Turquoise, a pan-European multilateral trading facility (MTF) backed by nine investment banks, aims to expand clients’ clearing options once its current trading system upgrades make it Europe’s fastest alternative trading venue.
The ability to access fragmented liquidity is the key criteria for buy-side traders when selecting trading tools such as execution management systems and algorithms, according to a new survey by the Securities Industry and Financial Markets Association (SIFMA).
Sponsored access schemes that allow buy-side firms to trade on execution venues under the name of a broker, introduce unacceptable risks for brokers and unclear lines of responsibility, according to Eli Lederman, CEO of pan-European multilateral trading facility Turquoise.
Data provider Markit will introduce a new pricing schedule for BOAT, its trade reporting and data service for over-the-counter European equities trades, from 1 May.
Swiss financial services conglomerate SIX Group has hired Christian Katz as CEO of its cash markets division and CEO of the SIX Swiss Exchange, effective from May 2009. He will also join SIX Group’s executive board.