Europe

Acceptance of MTFs key to handling exchange outages

The European trading community must factor the liquidity won by multilateral trading facilities into trading strategies and indices to enable continuous trading during an exchange outage.

BATS Europe to clear UK and Swiss stocks through LCH

BATS Europe, the European trading platform owned by exchange group BATS Global Markets, has selected LCH.Clearnet Ltd, the UK division of European central counterparty (CCP) group LCH.Clearnet, to clear the UK and Swiss securities traded on its platform.

Tradebook provides real-time view of European liquidity

Agency broker and trading technology provider Bloomberg Tradebook has launched Global Tradebook Trade Analytics (GTTA), a tool that helps users find liquidity in fragmented markets, in Europe.

Closure of SWX Europe finalised

SIX Swiss Exchange, Switzerland’s national stock exchange, has completed the transfer of trading in Swiss blue-chip stocks to its main exchange in Zurich from SWX Europe, its London-based trading platform.

LCH.Clearnet to slash European equity clearing fees

LCH.Clearnet SA, the French arm of European clearing provider LCH.Clearnet, plans to cut fees for NYSE Euronext, Bourse de Luxembourg, Equiduct and NYSE Euronext’s SmartPool multilateral trading facility (MTF) by 30% from 1 July 2009.

UPDATE: Frustrated DTCC outlines post-LCH European strategy

Having walked out on merger talks with European clearing house LCH.Clearnet, US post-trade utility DTCC is focusing on developing its existing business in Europe, including pan-European clearing facility EuroCCP and its Deriv/SERV matching and confirmation service.

Burgundy chooses connectivity provider

Burgundy, a multilateral trading facility (MTF) for Nordic stocks backed by a consortium of the region’s banks and securities trading firms, has selected Transaction Network Services (TNS) for connectivity services.

NYSE MTF joins symbology drive

NYSE Arca Europe, a European multilateral trading facility (MTF) backed by global exchange group NYSE Euronext, has joined the MTF working group to develop a uniform symbology framework for European equities.

DTCC abandons LCH.Clearnet purchase

US post-trade utility Depository Trust & Clearing Corporation (DTCC) has announced that it will not go ahead with its planned purchase of LCH.Clearnet, the European clearing house, and will instead “seek other strategic alternatives".