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.
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.
The market data policies of Europe’s incumbent exchanges “go against the spirit of MiFID provisions”, according to a letter from Equiduct Trading joint-CEO Artur Fischer sent to the Committee of European Securities Regulators (CESR).