Morgan Stanley, Virtu Financial, Citadel Securities, UBS and Fidelity Investments are among the firms looking to establish a low-cost, transparent equities exchange.
Securities and Exchange Commission unanimously approves a one-year programme, known as the transaction fee pilot, as part of a review of the ‘maker-taker’ trading system.
Broker-dealers have been fined a combined $6 million for submitting inaccurate blue sheet data to the Securities and Exchange Commission.
SEC hands ITG $12 million fine for disclosing information on client activity within POSIT to HFTs and misleading investors on how the dark pool operates.
Turquoise will remove its negative fee structure as of 1 November, as LSEG says buy-side support of transaction fee pilot in the US influenced the move.
US regulator rules in favour of SIFMA’s challenge of its support in market data fee increases at Nasdaq and NYSE.
Mary Schapiro was chair of the SEC from 2009 to 2012 and joined LSEG as a non-executive director in 2015.
Pamela Dyson will join the Federal Reserve Bank of New York next month as chief information officer.
Citi Match users were misled about HFTs operating in the dark pool for more than two years, according to the SEC.
Formerly Convergex, Cowen Execution Services submitted incomplete data due to coding errors, according to the SEC.