Pan-European trading platform Turquoise is planning to launch a mid-point order book on 14 April, which will allow users to submit dark orders that are smaller than MiFID’s large-in-scale requirements.
The continuing decline in traded equity values in Europe will eat into exchanges’ revenues and could prompt staff cuts, according to Bob McDowall, European research director at TowerGroup.
Execution, a London-based agency brokerage, has launched a new electronic trading platform, combining the benefits of agency execution with trading tools from leading investment banks.
Pan-European multilateral trading facility (MTF) Turquoise is planning to take steps to reverse the steep drop in its market share caused by the expiry of market making agreements with founding member banks on 13 March.
Pan-European multilateral trading facility Nasdaq OMX Europe will introduce a new rebate from 1 May to help members mitigate the rising fixed trading costs associated with smaller trade sizes.
Chi-Tech, the technology services unit of Chi-X Global, a global provider of market infrastructure technologies and trading venues, has hired Ulf Axman as head of European business development.
A recent decline in European equity trading volumes has coincided with an onslaught of statistics and performance tables asserting the merits of trading on various venues.
Some of Europe’s largest multilateral trading facilities (MTFs) have called for a quick resolution to the regulatory confusion surrounding non-displayed trading functionality and criticised the restrictions imposed by the current regime.
NEURO Dark, the new dark pool from pan-European MTF Nasdaq OMX Europe, may become the first equities trading venue to use a consolidated European best bid and offer as a reference price rather than a primary exchange price benchmark.