Tag: Crossing networks

Liquidnet growth driven by European expansion

Buy-side trading platform Liquidnet saw global principal traded grow by more than 15% year-on-year in 2013 including strong growth in its European business, which increased by 59% from 2012.

Australia's VolumeMatch closes but replacement follows

Last Friday, the Australian Securities Exchange’s VolumeMatch service was officially discontinued, ending one of the bourse’s first forays into services intended to help it effectively compete in a multi-venue market.

MEPs break ranks to back BCNs

Fears that broker crossing networks may be forced out of the market could be alleviated following the most recent MiFID II amendments tabled by MEPs.

MarketPrizm offers access to GETCO dark pool

Market participants will soon be able to access GETCO Execution Services Europe, the centrally-cleared broker crossing network run by electronic market making firm GETCO, via infrastructure and market data provider MarketPrizm.

EC bids to clarify ban on prop flow in dark pools

The European Commission today sought to clarify MiFID II proposals on allowing banks’ proprietary trading flow into their dark trading venues and also asserted that contentious rules on electronic trading and market making could be re-assessed.

Former Liquidnet head joins Pipeline

Pipeline Financial Group, a US-based block trading platform operator, has announced the appointment of Jay Biancamano as its executive chairman, replacing Alfred R. Berkeley, who has retired from the firm.

SEC fines Pipeline for “misleading” institutions over use of prop desk

Pipeline Trading Systems, a US-based operator of block crossing systems, and two of its senior executives have been fined by the Securities and Exchange Commission for failing to disclose that a high proportion of orders executed on behalf of buy-side customers in its US dark pool were filled by an affiliated trading firm.

Liquidnet faces court action over private share venue

Wedbush Securities, a US-based broker dealer, has filed court proceedings against buy-side-focused block trading venue operator Liquidnet and two former Wedbush employees for alleged misappropriation of trade secrets related to a new private share platform.