Tag: Crossing Networks & Dark Pools

The London Stock Exchange Group overtook BATS Chi-X Europe as the largest equity trading venue operator in Europe last month, according to Thomson Reuters Equity Market Share Report.

Improved data and greater transparency on order handling from brokers would help the buy-side mitigate MiFID II’s dark trading limits, according to theTRADEnews.com’s May poll.

The European Securities and Markets Authority’s discussion paper on MiFID II, published last week, gives some initial insights into the practical implications of the upcoming regime, though there remains much uncertainty.

The buy-side’s need for blocks and the incoming caps on dark trading are driving brokers to seek out new solutions.

Big can be beautiful, brokers are discovering as they consider how to respond to MiFID II’s limits on dark trading

Innovation among aspirant trading venues is focusing on size rather than speed as new alternative trading systems compete to deliver blocks to the buy-side, a new report claims.

Initiatives such as the planned buy-side only block crossing pool mooted by US giant Fidelity Investments earlier this month reflect the desire of asset managers to make good on their fiduciary responsibility to end-investors, according to Kevin McPartland, principal, market structure and technology at research firm Greenwich Associates.

Block crossing network operator Liquidnet has appointed former Wells Fargo and Deutsche Bank executive Bob Garrett as its new head of technology.

Letting clients have greater control over their counterparties could be key to increasing block trades, according to Société Générale.

A smart order router developed by US equity trading venue IEX lets buy-side traders route to the venue directly from execution management systems and seeks to reduce information leakage before routing to lit markets to achieve best execution.