ITG breaks the mold with bid and offer focused bond dark pool
Agency broker ITG plans to use its own version of the national best bid and offer (NBBO) system and apply it a part of its new fixed income dark pool.
Agency broker ITG plans to use its own version of the national best bid and offer (NBBO) system and apply it a part of its new fixed income dark pool.
The Financial Industry Regulatory Authority's latest US dark pool data reveal the market impact of recent official investigations, with Barclays' alternative trading systems losing more than two thirds of their trading volumes.
US regulations could be providing dark pools with additional advantages that have made them more popular at the expense of lit venues, according to research from the Capital Markets Cooperative Research Centre.
Proposals to raise minimum order sizes for systematic internalisers as part of the Market in Financial Instruments Regulation risk raising the cost of trading for institutional investors.
Institutional block trading network Liquidnet has seen record European trading volumes in the first half of 2014 after focusing on building its presence in continental Europe.
Industry veteran Rob Laible has joined Liquidnet as head of its global performance team.
Buy-side firms are stepping up their due diligence of broker dark pools following legal action against Barclays for allegedly misrepresenting details about its crossing network to users.
Institutional crossing network operator Liquidnet has been fined US$2 million by the US Securities and Exchange Commission for sharing customer trading information between two separate business units.
Mary Jo White, chair of the Securities and Exchange Commission, has outlined proposals for new rules to reduce the potential negative impacts of high-frequency and computerised trading on market stability.
Agency broker Instinet has enhanced the intra-day VWAP Crossing session in its Crossing alternative trading system in the US.