Europe

Chi-X extends Spanish market hours

Chi-X, a pan-European multilateral trading facility (MTF), will prolong its market hours for the Spanish markets by 30 minutes to close at 16.00 UK local time from 2 February.

Quadriserv and Eurex Clearing to launch securities lending CCP

Quadriserv, a North American provider of securities lending services, and Eurex Clearing, the post-trade division of European derivatives exchange Eurex, have joined forces to provide central counterparty (CCP) clearing and settlement services for securities lending of European equities.

UK broker expands buy-side offering with Fidessa tools

Collins Stewart, an independent UK investment bank, has gone live with the full suite of trading tools from Fidessa, a provider of trading, market data and global connectivity solutions.

Broker OTC venues create uneven playing field, say exchanges

Broker-owned crossing engines have gained an unfair competitive advantage over traditional exchanges, according to exchange groups’ responses to a call by the Committee of European Securities Regulators (CESR) for evidence on MiFID’s impact on Europe’s secondary markets.

Nasdaq OMX Europe expands routing capabilities

Nasdaq OMX Europe, an exchange-backed multilateral trading facility, has introduced a new onward routing strategy, reinforcing the value of redirecting trades to its business model.

Deutsche Börse to handle trading slump better than rivals

German stock exchange group Deutsche Börse is better positioned to weather the recent slump in trading volumes than its fellow European stock exchanges, according to research by Credit Suisse’s exchanges analyst, Rupak Ghose.

Reliance Globalcom provides low-latency connectivity to MTFs

Reliance Globalcom, a managed network and application delivery services provider, has connected its ethernet-based financial extranet FinancialConnect! to multilateral trading facilities (MTFs) Chi-X Europe, Nasdaq OMX Europe and BATS Europe.

BATS data reveals rising market share for MTFs

Equities trading platform BATS Europe’s market share grew to 0.97% by value on 23 January from 0.85% on 16 January, according to the MTF’s new market share display facility, launched today.

Nasdaq OMX revises Nordic CCP plans

Exchange group Nasdaq OMX has delayed the launch of the planned central counterparty (CCP) for its exchanges in Copenhagen, Helsinki and Stockholm, and has scrapped plans to include Nordic-specific features in the CCP and establish a Nordic clearing fund in response to comments from members.

Turquoise price cuts may not reach buy-side

Turquoise, a broker-backed multilateral trading facility (MTF), has announced a new tiered pricing structure amid claims that buy-side traders are not benefiting from lower execution costs resulting from competition between European trading venues.