Investment management consultancy Investit has released a new integrated benchmarking tool to allow asset management firms to compare their processes with their peers and industry best practice.
Multilateral trading facilities (MTFs) Chi-X Europe and Burgundy will change tick sizes for certain indices following last week’s agreement between the Federation of European Securities Exchanges (FESE), the London Investment Banking Association (LIBA) and four MTFs to harmonise tick sizes across Europe.
While the financial crisis and the resulting losses will prompt asset managers’ end-clients to seek simpler investments, they will still require investment firms to be opportunistic, according to a new study from independent financial services think tank CREATE-Research.
Multilateral trading facilities (MTFs) and exchanges are on the verge of igniting a tick size war that could decrease market efficiency and prove detrimental to investors searching for liquidity in European stocks.
The US Securities and Exchange Commission (SEC) is seeking public comment on whether it should impose price or so-called circuit-breaker restrictions on short-selling US equities.
US equities trading platform Direct Edge has criticised calls for a “modified uptick rule” to prevent abusive short-selling of US equities, arguing that such restrictions could limit liquidity and create greater selling pressure in a falling market.
The continuing decline in traded equity values in Europe will eat into exchanges’ revenues and could prompt staff cuts, according to Bob McDowall, European research director at TowerGroup.
Turquoise, a pan-European equity trading platform, has joined the MTF common symbology working group because of the operational and trading benefits it will provide to its members.
The Wholesale Markets Brokers’ Association (WMBA), a trade body representing interdealer brokers, has hit back at recent comments from the Federation of European Stock Exchanges (FESE) that blamed over-the-counter (OTC) instruments for the current financial crisis.