Firms operating dark pools have made “significant progress” in addressing the promotion and the management of conflicts of interest, according to the UK’s Financial Conduct Authority (FCA). Dark pools are trading venues with no-pre trade transparency where the price and volume of all orders are hidden and anonymous. Andrew Bailey, chief executive of the FCA, […]
Broker crossing networks will be heavily affected by upcoming European Commission rules on dark trading. But with 18 months to go until implementation, uncertainty still unnerves brokers and asset managers – prompting some market participants to re-examine whether they want to trade at all.
Regulators in the US and Europe are stepping up investigations into dark pool activity, market abuse and manipulation of financial benchmarks following a spate of damaging incidents in recent months. Tougher regulatory oversight could have a significant impact on all three areas, according to a new report by financial services technology provider SunGard.
Trading rules in the US are giving dark pools an unfair advantage over exchanges and could be damaging liquidity, according to a new report by the Capital Markets Cooperative Research Centre.
Electronic fixed income trading, one of the last major asset classes traded by humans, could take a big step forward when a new Nasdaq OMX dark pool trading venue goes live next year.
Regulators should consider carefully the implications of their actions, and not be too hasty to censure or restrict trading activity on dark pools, according to a report released by analyst firm Celent this week. The findings have been supported by senior financial services executives at Fidessa, who have called for investor choice to be maintained.
Australia’s Securities and Investments Commission has set out a series of final rules on dark liquidity and high-frequency trading, which it says will promise a more stable market.
German exchange Deutsche Börse is to launch a new block trading service in partnership with Liquidnet, the buy-side crossing network.
Bank of America Merrill Lynch is seeking to attract long-term investors who have become disillusioned with equity markets. Its new trading system, Instinct Natural, is a crossing network that is clearly geared towards customers that want to trade in blocks. But market participants have expressed concerns about its potential to meet the needs of long-term investors.
Squawker, the start-up block trading venue headed by Christopher Gregory, has moved one step closer to its goal of providing a pan-European mid-point matching service for banks and brokers, following a deal between it and Switzerland’s SIX Financial Information this week.
Former Liquidnet Europe head John Barker is to take up a new role at Russian financial services firm BCS Financial Group, Banking Technology has learned.
Western investment firms looking to trade in Asia Pacific should not rely on algorithms that have been ported from the US or Europe, according to William Capuzzi, president of trading technology company ConvergEx’s global execution business – instead, they should adopt dedicated tools built from the ground up.
As the European Commission prepares new rules that will reform Europe’s capital markets, buy-side market participants must be careful to ensure that they are not misunderstood and even side-lined by politicians in Brussels, warns David Morgan, director for trading and client connectivity, capital markets at financial technology provider SunGard.
New regulations that will affect how banks run crossing networks for their buy-side clients should avoid constraining investor choice by forcing a ‘one-size-fits-all’ approach to trading, according to Miranda Mizen, senior consultant at TABB Group.
