In this guest blog, Greenwich Associates' Craig Viani ponders why equity trading trails the technological progress made in other industries.
Crossing Networks/ATSs Channel
There has been a clear trend in recent years to provide a more explicit definition of best execution for fixed income trading in order to maximize value for the fiduciary. Read our guest commentary to see why best ex matters more and more in this asset class.
Buyside traders in Europe who are facing the uncertain future of where to get their alpha generating research and how to pay for it now will have access to central repository.
Pioneer Investment Management thinks Europes looming ban on bundling together payments for equity research and trading is a great idea. But uncertainty over what will be allowed in the final rules has forced it to stop its efforts to separate the two.
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.