While the industry has largely applauded last week’s agreement between exchanges, multilateral trading facilities (MTFs) and brokers to harmonise tick sizes across Europe, many acknowledge it is only a first step, and more effort is needed to create true unity.
Bolsas y Mercados Españoles (BME), the Spanish stock exchange, has announced that it will transfer the remaining shares traded by open outcry to an electronic system.
Central securities depositories (CSDs) from 21 European countries will indicate their commitment to the European Central Bank’s TARGET2-Securities (T2S) centralised settlement infrastructure next week, according to Gertrude Tumpel-Gugerell, a member of the bank’s executive board.
Investment management consultancy Investit has released a new integrated benchmarking tool to allow asset management firms to compare their processes with their peers and industry best practice.
Pipeline Financial Group, an operator of equity block trading venues in the US and Europe, has appointed Richard Gray as senior salesperson for its European operations as it moves ahead with its launch schedule in the region.
Buy-side dark crossing network Liquidnet’s total principal traded in Europe in Q2 2009 was £13.38 billion, a 30% increase over Q1 and a 21% year-on-year rise. The figure equates to an average daily principal traded of £219.3 million.
Nasdaq OMX Europe, a multilateral trading facility (MTF) for European equities, has announced enhancements to its order routing functionality and dark pool.
Multilateral trading facilities (MTFs) Chi-X Europe and Burgundy will change tick sizes for certain indices following last week’s agreement between the Federation of European Securities Exchanges (FESE), the London Investment Banking Association (LIBA) and four MTFs to harmonise tick sizes across Europe.
Agency broker and trading technology provider ITG will now base its European transaction cost analysis (TCA) service on consolidated data from both primary exchanges and multilateral trading facilities (MTFs).