Trading technology provider Fidessa has added a new feature to its online Fragmentation Index that allows users to analyse the dispersion of trading in individual stocks across Europe’s displayed and non-displayed trading venues.
Chi-X Europe will charge users of its market data from the beginning of next year, but trading participants and their buy-side direct market access clients will be exempt.
Cogent Consulting, a US-based provider of commission management systems, has launched a free version of its web-based HedgeTrak broker review and evaluation service ahead of US legislation to register all hedge funds.
Turquoise, a pan-European multilateral trading facility, has cut its fee for non-displayed trading to 0.30 basis points from 0.50 bps from 1 October until the end of this year.
Broking firm Newedge has merged its Madrid operation with that of Altura, a Spanish futures and options brokerage set up in 2000 as a 50/50 joint venture between French broker Calyon Financial and Spanish banking group BBVA.
Europe’s sponsored access market has no shortage of suppliers, but demand for the service is being hampered by a lack of consistency on how it differs from standard direct market access and where responsibility lies for risk controls.
Europe’s broker-owned dark pools or crossing engines will be more open to toxic flow and less able to provide price improvement if they are forced to register as multilateral trading facilities (MTFs), brokers claim.
Burgundy, a multilateral trading facility (MTF) for Nordic stocks, has decided to launch central counterparty (CCP) clearing on 9 October following a review of trading participants’ readiness to use the service.
The Australian Securities Exchange (ASX) Group, the operator of the Australian Stock Exchange and the Sydney Futures Exchange, has launched a review of algorithmic trading on its platforms in a bid to weed out activity that could be detrimental to market participants overall.
European post-trade utilities LCH.Clearnet and Euroclear have said they will work together to reduce client costs through greater operational efficiencies between the firms’ respective cash securities clearing business and custody and settlement capabilities.