Market participants at TradeTech have agreed that trading volumes have failed to shift to lit venues under MiFID II, but the regulation has led to unintended positive developments in the form of periodic auctions.
Cboe and Turquoise have established EU entities in Amsterdam, while Aquis Exchange set up its new EU base in Paris.
Cboe will operate an MTF and APA from Amsterdam as the UK’s departure from the European Union grows closer.
The EU financial regulator has published responses to its call for evidence, revealing that the industry is firmly behind the use of periodic auctions.
Trading in Polish, Hungarian and Czech stocks will be available on Cboe Europe from 5 November pending regulatory approval.
Cboe LIS continues to win over the buy-side with 158 asset managers now using the platform to trade large blocks under MiFID II.
The TRADE looks at how the industry has adapted to the new trading environment and the major issues facing market participants following the implementation of MiFID II six months ago.
Cboe has filed applications with regulators to operate in the Netherlands as the UK prepares to leave the EU.
Chairman of the Autorité des Marchés Financiers called out Cboe Europe’s periodic auction during a keynote address at TradeTech.
Industry leaders debated the rise of periodic auctions on a keynote discussion panel at TradeTech in Paris this week.