Europe

Brokers bidding against themselves in LCH battle

US post-trade processing firm Depository Trust and Clearing Corporation's (DTCC) member-owned structure could complicate its battle to acquire European clearing house LCH.Clearnet.

Credit Suisse AES forges derivatives links

Investment bank Credit Suisse’s Advanced Execution Services (AES) division, which supplies algorithms and trading tools to the buy-side, has expanded its derivatives capabilities by joining financial software firm Orc’s ExNet broker connectivity network and launching a joint offering with US options pricing and analytics firm Derivix.

CCP deal brings European clearing competition closer

Europe’s biggest brokers welcomed last week’s announcements on interoperability between central counterparties (CCP) but admit it is only the first step towards an efficient clearing model for the pan-European market.

FXall adds netting service to trading platform

Electronic foreign exchange trading platform FXall has launched Cross Currency Netting, a new feature enabling users to manage high-value multi-currency exposures in volatile markets.

Burgundy chooses EMCF, plans multi-clearer model

Burgundy, a multilateral trading facility for Nordic securities, has chosen European Multilateral Clearing Facility (EMCF) as its central counterparty (CCP), and is looking to add other clearers as the platform develops.

New Hungarian MTF will have liquidity “from day one”

This summer will see the launch of yet another pan-European multilateral trading facility, Quote MTF, a Hungarian-based platform that will offer liquidity from third-party market-makers from launch.

EMCF “ready to service LSE flow”

European Multilateral Clearing Facility (EMCF), the Dutch-regulated central counterparty that clears trades for three UK-regulated MTFs, has been granted recognised overseas clearing house (ROCH) status by the UK’s regulator, the Financial Services Authority.

LSE average daily value drops 60% in January

The average daily value of equity trades on the London Stock Exchange's (LSE) electronic order books fell 60% to £6.2 billion in January 2009 from the record average daily value reported in January 2008.

ITG reorders management as Haynes explores pastures new

Investment Technology Group (ITG), a global agency brokerage and trading technology firm, has reshuffled its senior management following the departure of international CEO Alasdair Haynes.