Europe

Buy-side faces aggravation over dark pool aggregation

The ability to stitch together the liquidity residing in both public dark pools and brokers’ internal crossing engines is high on many European buy-side traders’ wish lists. But while some trading venues are responding by establishing dark pool aggregation services, regulatory and commercial hurdles could hamper progress.

LSE in u-turn over routing fee

The London Stock Exchange (LSE) has scrapped a controversial routing fee it was charging other venues for sending trades to its order book, less than five months after it was introduced.

Baikal to offer two crossing types

Baikal, the dark pool currently in development by the London Stock Exchange (LSE), plans to offer both continuous and random periodic crossing on its order book in addition to its onward routing functionality, and is continuing its search for broker investment.

SOR and consolidated tape will bolster Chi-X position

Improved smart order routing (SOR) technology and a consolidated tape of European pre-trade data will help Chi-X Europe, the first displayed pan-European multilateral trading facility, which celebrates its second birthday today, build on its existing success, according to the platform’s management.

Nasdaq MTF seeks new flow with equity incentive

Pan-European multilateral trading facility (MTF) Nasdaq OMX Europe will launch a new equity stake incentive programme in June in a bid to encourage more trading on the platform.

SocGen aims for 10% crossing rate in new dark pool

French investment bank Société Générale Corporate & Investment Banking (SocGen CIB) has launched Alpha x Europe, an internal crossing engine for buy-side client order flows, in response to buy-side concerns about market fragmentation, rising trading costs, and gaming in dark pools.

EuroCCP targets volume increase with fee cuts

EuroCCP, the European central counterparty service operated by US clearing house DTCC, has reduced its clearing and risk management fees to attract more business to the trading platforms it supports.

Instinet to use Atrium for European venue connectivity

Atrium Network, a financial connectivity provider, has added agency brokerage Instinet Europe to its extranet community, granting the broker low-latency connectivity to multilateral trading facilities

Ignis turns to SOR to weather tough trading conditions

Buy-side firm Ignis Asset Management has selected smart order routers (SORs) from five brokers for the first phase of its SOR implementation following an extensive provider review, according to Betsy Anderson, the company’s head of centralised dealing.