Trading Venues

MTFs gaining ground on primary exchanges – Cheuvreux

Multilateral trading facilities (MTFs) have captured around a quarter of trading in European stocks and now provide a viable alternative to primary exchanges, according to new research from broker CA Cheuvreux.

Chi-X picks up market share despite Europe-wide dip

Chi-X Europe suffered a fall in Q1 2009 activity compared with the previous quarter, in line with a global slump of equity trading volumes, but the pan-European multilateral trading facility (MTF), also reported strong growth between March and February.

ITG crossing network reaches into new markets

Agency broker and technology provider ITG said its POSIT crossing network can execute trades in equities from the Czech Republic, Hungary and South Africa.

FSA tells NYFIX to modify Euro Millennium

Euro Millennium, the pan-European dark pool for equities trading, has been asked by the UK’s financial regulator to make modifications to its functionality, according to a statement by parent company NYFIX, the US-based trading solutions vendor.

Chi-X fees a tenth of European incumbents’ – TowerGroup

Chi-X, a pan-European multilateral trading facility, will continue to siphon liquidity from incumbent exchanges because of its low transaction costs – up to a tenth of those charged by its competitors – according to a new study from research and advisory firm TowerGroup.

Burgundy and HKMEx sign up to new surveillance tool

Burgundy, a Nordic multilateral trading facility, and the Hong Kong Mercantile Exchange (HKMEx) have signed up to Scila Surveillance, a new market surveillance tool jointly developed by systems provider Cinnober and technology firm Scila.

Markets at “critical” juncture – new global exchanges head

William J. Brodsky, the newly-appointed chairman of the World Federation of Exchanges (WFE), asserted that the global financial markets are at a “critical juncture” in their evolution, as the federation laid out three priorities for 2009.