Europe

Chi-X Europe, a pan-European multilateral trading facility, has appointed Mark Howarth as interim CEO, replacing Peter Randall, who is stepping down for personal reasons.

NYSE Arca Europe, a displayed pan-European multilateral trading facility (MTF) created by exchange group NYSE Euronext, started trading today and will offer free trading until April as part of a three-week-long launch promotion.

US equities block trading platform Pipeline is planning to start trading across Europe from Q2 this year. The firm is in the final stages of the authorisation process for its new European platform with the Financial Services Authority, the UK’s financial regulator.

Turquoise, a pan-European multilateral trading facility backed by nine of the largest investment banks, faces a battle to maintain its market share in European equity trading from this week as its market-making agreements expire.

UBS Investment Bank has launched a real-time transaction cost analysis (TCA) service to help European clients achieve best execution.

The Committee of European Securities Regulators (CESR) is planning to take a more active role in decisions about granting pre-trade transparency waivers to dark trading venues.

A counter-bid to DTCC’s offer for European clearing house LCH.Clearnet may still emerge, despite the lack of a firm proposal more than a month after ICAP, a UK-based inter-dealer broker, acknowledged its role in the consortium of brokers considering the counter-bid.

Fidessa LatentZero, a front-office software provider, has integrated Japanese investment bank Nomura’s ModelEx suite of algorithmic order execution strategies into its Minerva order and execution management system (OEMS) and EMS Workstation trading applications for the buy-side.

Turquoise, a broker-backed multilateral trading facility, has become the second European trading venue in a matter of days to announce discussions with regulators over its dark trading functionality.

Global buy-side crossing network Liquidnet has started offering its members trading in global depository receipts (GDRs) listed on the Luxembourg Stock Exchange.