TradingScreen, a provider of execution management systems (EMSs) to the buy-side, has launched a direct connection to CBX Asia, an alternative trading system for Japanese and Hong Kong equities operated by agency broker Instinet.
The Committee of European Securities Regulators (CESR) has clarified its role in the regulation of dark pools and has acknowledged the need for a European best bid and offer (EBBO) benchmark for the first time.
BlocSec, a non-displayed block-trading platform for Asian equities, has reduced its minimum order size to US$250,000 from US$1 million in response to falling block sizes in the region.
The newly-launched European division of dark block trading platform Pipeline will offer clearing and settlement to both buy- and sell-side clients through BNP Paribas Securities Services and pan-European clearing house EuroCCP.
Pan-European trading platform Turquoise has received approval from UK regulator the Financial Services Authority to launch TQ Channel, its non-displayed liquidity aggregation and routing service, in early July 2009.
Goldman Sachs, Morgan Stanley and UBS, three of the world’s biggest brokers, have granted each other reciprocal access to their respective internal crossing engines in Europe – SIGMA X, MS POOL and UBS-PIN.
NEURO Dark, a European dark pool to be launched on 11 May by multilateral trading facility Nasdaq OMX Europe, will offer IOI functionality, smart routing and new 'internalisation' order types.
Taking liquidity away from the public order book poses a threat to the buy-side’s ability to discover prices, say top investment managers at the TradeTech securities industry conference held in Paris this week.