Nasdaq's botched Facebook IPO has incurred the wrath of the Securities and Exchange Commission, but the failings of US markets to support its initial offering may drive firms to look to alternatives.
Turquoise, the multilateral trading facility (MTF) owned by London Stock Exchange Group (LSEG) has seen its market share peak and is now seeing its flow fall back.
New European listed derivatives platform Nasdaq OMX NLX will launch on Friday after the UK market regulator issued its approval, following delays related to regulatory testing of its clearing operations.
Institutional block trading network Liquidnet has appointed two senior members to its EMEA team to build on positive early-year results as it grow its Continental Europe client base.
Major execution venues active in electronic bond trading are committing to adopting open standardised protocols, said Sassan Danesh, managing partner, Etrading Software, and co-chair of message standards body FIX Protocol Limited (FPL) global fixed income committee.
MarketAxess has said its deal with BlackRock's Aladdin Trading Network to develop a platform for the US$14 trillion US credit market will increase the market's focus on a single set of open-platform solutions despite a likely increase in competing venues.
The Securities and Exchange Commission has finally approved Nasdaq OMX’s compensation scheme for members that lost money during the Facebook IPO, but the deal may not be sufficient to stop legal action against the US bourse.
US market operators are preparing for new rules that will reform trading of credit default swaps indices, including MarketAxess, which is seeking temporary exemption from swap execution facility registration because of the associated cost burden.
A last-ditch lobbying effort from three US trade bodies has emphasised the hike in buy-side trading costs that may result from swap execution facility rules.
Pan-European multilateral trading facility Turquoise attained its highest ever monthly market share figure in February, as overall equity volumes dipped slightly following a strong start to the year.