Europe

Equiduct, a pan-European equity trading platform, has updated its Orange Liquidity Fragmentation Analytics (OrangeLFA) tool to include the execution fees of the trading venues it analyses.

Xavier Rolet, the London Stock Exchange’s new CEO – and three-time competitor in the Paris-Dakar rally – painted a picture of opportunity at today’s presentation of the group’s financial results for the year to March 2009.

The total value traded on the London Stock Exchange’s SETS equities trading platform fell 22% in the year to 31 March 2009, according to the exchange group’s preliminary annual results statement.

LCH.Clearnet Ltd and European Multilateral Clearing Facility (EMCF) have become the latest clearing houses to sign a memorandum of understanding to interoperate with each other.

Burgundy, a multilateral trading facility for Nordic stocks, will continue its rollout on Friday with the addition of five Norwegian stocks to its platform.

Pan-European multilateral trading facilities (MTFs) BATS Europe and Nasdaq OMX Europe have both expanded their connectivity.

Exchange group NYSE Euronext will face more competitive pressure in Europe from next month when BATS Europe, the European trading platform backed by US exchange BATS, introduces ‘inverted’ pricing for stock in three Euronext indices.

The newly-launched European division of dark block trading platform Pipeline will offer clearing and settlement to both buy- and sell-side clients through BNP Paribas Securities Services and pan-European clearing house EuroCCP.

UK agency broker Execution has hired Ben Johnson as a member of Alternative Execution, its portfolio and electronic trading unit.

Pan-European trading platform Turquoise has received approval from UK regulator the Financial Services Authority to launch TQ Channel, its non-displayed liquidity aggregation and routing service, in early July 2009.