US trading venues BATS Exchange and Direct Edge put further competitive pressure on their traditional exchange rivals, Nasdaq OMX and NYSE Euronext, this week by announcing fee cuts on the same day.
Buy-side firm Ignis Asset Management has selected smart order routers (SORs) from five brokers for the first phase of its SOR implementation following an extensive provider review, according to Betsy Anderson, the company’s head of centralised dealing.
BATS Europe, a pan-European multilateral trading facility backed by US exchange BATS, grabbed more European market share than rival platform Turquoise for the first time this week, as the loss of Turquoise’s market-making agreements took hold.
Norwegian exchange group Oslo Børs will introduce a new fee schedule on 1 May, which it claims offers “significant reductions” on the existing tariff introduced last September.
The Depository Trust and Clearing Corporation (DTCC), the US’s central clearing provider, has appointed Robert Hegarty to the new position of managing director, market structure.
Need To Know News (NTKN), a provider of computer-readable news for algorithmic trading, has launched its Lightning Bolt algorithmic news feed services at data centre provider Equinix’s FR2 Frankfurt-North International Business Exchange facility in Germany.
Goldman Sachs Electronic Trading (GSET) has added new features to its US listed options offering, including three new algorithms and the ability to auto-hedge options orders.
Pan-European MTF Turquoise will introduce a new maker-taker tariff structure on 1 April to help combat the fall in trading market share suffered since its market-making agreements with founding banks expired on 13 March.
Pan-European MTF Turquoise is planning to use a consolidated European best bid and offer (EBBO) as the reference price for its new mid-point non-displayed order book, which it plans to launch on 14 April.
NYSE Euronext, a global exchange group, has targeted Q3 2009 for the completion of a common infrastructure that links all its European trading platforms.