Guest commentator David Weisberger examines the validity of the latest iteration of the speed bump as put forth by CHX and wonders if it is a step backwards.
Are you reducing your research commission spend based on MiFID II requirements?
- My spend is unchanged
- MiFID II had nothing to do with spend changes
The cost to trade U.S. equities via people has held steady during the last year at 12 basis points while exchange traded funds (ETFs) , which are gaining in popularity and provide more stability, are getting more expensive to trade.
Thomson Reuters has made key enhancements to its data analytics platform, Velocity Analytics, to provide ultra-high-speed processing of real-time, streaming and historical data that will help EU and non-EU financial markets participants meet their MiFID II obligations.
ITG announced the rollout of an enhanced Research Payment Account (RPA) solution to enable asset managers to adapt to the unbundling of research and execution required under the coming MiFID II rules in Europe.
More change is coming to the equity trading markets of the Great White North.
Canada's Omega ATS has opened its second trading venue in the Great White North -Lynx ATS. After receiving final approval and making all the tweaks and getting its trading technology in order, the new venue is officially open for business.
PDQ ATS is looking to get into the institutional trading business and has started an institutional equities group to get the buyside's business and its bigger trades. And it has hired two new ex-exchange pros to help get the new venture going.
The dark markets have become so efficient that the costs of execution and market impact are lower than at the display markets, where take fees are highest and market impact is most significant.
Traders believe dark pools have entered a "mature phase" and use them to avoid "toxic liquidity" from high-frequency trading firms, but the size of trades in those pools is getting smaller. These are among a few findings from a new report published by market research firm Celent.
Industry professionals took the opportunity to gripe about the proliferation of stock exchanges at this year's Security Industry and Financial Markets Association market structure conference.