Using algos in finance first emerged in cash equities but the changes sweeping through derivatives markets have ignited demand for more intelligent access to futures and options.
Are you excited about the opening of the Chinese equity markets and the Hong Kong-Shanghai trading link?
Crossing Networks/ATSs Channel
Last week, Bloomberg Tradebook raised $1.2 million in global equity commissions at its third annual Charity Day with several celebrities acting as sales traders. See a collection of images of Mariano Rivera, Joe Torre and others enjoying the festivities.
TORA announced a partnership with Markit to integrate the latter's pre- and post-trade transaction cost analysis (TCA) tools into the former's order and execution management systems.
Trade cost analysis is going a step deeper and measuring execution quality at the fill level.
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.