The Brazilian equities market has embraced electronic trading, tempting in US and European high-frequency traders, but further innovation may be hampered by central counterparty and market structure issues, according to the latest report from research firm Aite Group.
Non-displayed equities trading platform Liquidnet’s European operation traded just over £5.1 billion of principal in August – a new monthly record for the division and the first time its value traded has exceeded the £5 billion mark.
BATS Europe, the multilateral trading facility (MTF) operated by US-based exchange group BATS Global Markets, has set a rollout schedule for its Market On Close after-hours trading service, starting with FTSE 100 stocks.
Tbricks, a Stockholm-based trading technology provider, has added exchange group NYSE Euronext’s Universal Trading Platform (UTP) to its list of market connections.
US equities trading platform Direct Edge achieved a record matched market share of 12.90% of US equities trading in August, up from 11.80% in July. It has also become the second-largest trading venue for Nasdaq-listed stocks, surpassing NYSE Arca.
Any consolidation among Europe’s multilateral trading facilities (MTFs) will find few parallels with the acquisition of US ECNs by exchange groups in the mid-2000s, according to Larry Tabb, founder and CEO of research consultancy TABB Group.
UK financial regulator the Financial Services Authority has issued a statement outlining its concerns about the practice of ‘layering’ or ‘spoofing’ – submitting orders without the intention to trade – in exchange order books by traders using brokers’ direct market access services.
Dark pool operator Liquidnet recorded its highest month of activity in the Asia-Pacific region in August, with over US$1.1 billion of principal traded by its members on the platform.
Derivix, a provider of options analytics ad pricing tools, is to offer its clients access to the derivatives execution and routing technologies of LiquidPoint, the options division of agency brokerage BNY ConvergEx.
BATS Europe, the pan-European multilateral trading facility (MTF) operated by US exchange operator BATS Global Markets, boosted its market share of FTSE 100 stocks on the first day of its new inverted price promotion for UK equities.