In a conversation with Traders Magazine, Colt Technology Services' Julie Hutchinson discussed the widespread ramifications of MiFID II on European securities trading. She also said that while only a Euro-centric regulation, US firms should take heed and prepare - soon.
Aquis surveillance customers gain access to LiquidMetrix's trade cost analysis tools.
More than one quarter of buyside traders in the US and UK are using tools for transaction cost analysis in foreign exchange, which is now a major input to execution strategies according to consultancy Greenwich Associates.
The buy side is increasingly looking to trade cost analyst TCA to help it meet its growing mandate for transparency. And the need for TCA is not just for equities trades anymore.
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.