Europe

Pan-European equity trading venue Turquoise has set a date for the migration of its stocks to the common symbology framework for multilateral trading facilities.

European trading platform BATS Europe’s decision to replace European Multilateral Clearing Facility (EMCF) with UK clearing house LCH.Clearnet Ltd for UK and Swiss stocks could prompt EMCF to speed up its interoperability work, according to CEO Jan Booij.

The fragmentation of post-trade data for over-the-counter (OTC) equity trades in Europe is preventing effective transaction cost analysis and impairing the ability to observe best execution principles, according to market participants.

Post-trade services provider LCH.Clearnet has confirmed that it received a takeover bid last Friday from the consortium of banks that revealed its interest in the clearer in February.

Exchange group Nasdaq OMX has signed a memorandum of understanding with European clearing houses SIX x-clear and EuroCCP to add the two firms to its central counterparty (CCP) service for Nordic stocks.

Pan-European equity trading platform Turquoise’s market share has started to show signs of recovery in UK blue chips following the expiration of its market-making agreements.

Goldman Sachs, Morgan Stanley and UBS, three of the world’s biggest brokers, have granted each other reciprocal access to their respective internal crossing engines in Europe – SIGMA X, MS POOL and UBS-PIN.

European clearing houses EuroCCP and SIX x-clear have signed a memorandum of understanding outlining their commitment to interoperate with one another, allowing trading platforms that use the companies to offer a multi-central counterparty (CCP) model.

NEURO Dark, a European dark pool to be launched on 11 May by multilateral trading facility Nasdaq OMX Europe, will offer IOI functionality, smart routing and new 'internalisation' order types.

After winning clearing mandates from European trading platforms BATS Europe and NYSE Arca Europe and signing a memorandum of understanding to clear for Chi-X this week, UK clearing house LCH.Clearnet Ltd has been appointed to clear for broker-backed MTF Turquoise.