MarketAxess, a electronic trading platform for corporate bonds and other fixed income instruments, including credit default swaps, has responded to a request for public comment from the Securities and Exchange Commission, the US regulator, urging the adoption of a streamlined regulatory model for securities–based swap execution facilities.
Former Turquoise CEO Eli Lederman's compensation claim for unfair dismissal is expected to be resolved next month, pending an employment tribunal's view of the acquisition of a majority stake in the multilateral trading facility by the London Stock Exchange in 2010.
Four firms are expected to buy stakes in Chi-X Global in Q2 2011, following the implementation of a series of cost-cutting measures by the market operator and exchange technology provider, according to sources familiar with the matter.
SIX Swiss Exchange and Liquidnet, the buy-side block trading market, have signed an agreement allowing SIX Swiss Exchange members and Liquidnet's buy-side participants to execute large block trades with one another in both Swiss and other European equities.
A new multi-asset trading venue, the Bahrain Financial Exchange, is to begin trading on 7 February 2011, following an opening ceremony on the first day of the month.
New analysis from Nomura has attempted to shed light on the level of off-exchange trading in Europe, with the Japanese investment bank claiming that less than 10% of equity trading in the region should be classified as over-the-counter.
Access to a low-latency network offering the fastest, most reliable connection between dealing rooms and the servers of exchanges is a core requirement of firms engaged in the arms race for speed, says David Stanton, vice president, enterprise sales, Asia-Pacific, at Cable & Wireless Worldwide.
A report by US financial regulators has identified the attempt to sell 75,000 index futures contracts by a “mutual fund complex” using an execution algorithm in extremely volatile market conditions as the trigger for market mayhem on 6 May.
Market participants can expect to see trading venue consolidation and shorter broker lists should trading volumes remain depressed for the remainder of 2010, according to the September poll on theTRADEnews.com.
The outcome of the current bid speculation surrounding Chi-X Europe, the largest pan-European multilateral trading facility, could fan the flames of an already heated battle between Europe's primary exchanges for derivatives volumes.