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.
Turquoise, a pan-European multilateral trading facility (MTF), will allow members to formalise privately-negotiated transactions by bringing them onto its trading platform from 1 October.
Buy-side institutions can now connect to Quote MTF, the new Hungary-based multilateral trading facility, via Neonet, an agency broker and trading technology provider.
BATS Europe, the multilateral trading facility (MTF) owned by US exchange group BATS Global Markets, will cut its fee for removing liquidity to 0.25 basis points from 0.30 bps on a pan-European basis from 1 October until the end of the year.
Index provider FTSE Group will use data from Markit BOAT, the pan-European cash equity trade reporting venue, in its review process to assess stock liquidity.
Technology provider SunGard has launched new connectivity services that enable its clients to trade on Brazilian securities, commodities and futures exchange BM&F Bovespa.
Trading platform operator and technology provider Chi-X Global has hired three executives to its Asia-Pacific management team, including a region-wide CEO, and is seeking a licence to set up a trading platform in Japan.