ConvergEx announced last week that it was euthanizing one of its two dark pools, VortEx. Guest commentator, Craig Viani, one of the dark pool's co-founders, muses about the passing of the ATS.
The worlds largest issuers of exchange- traded funds are holding talks with stock exchanges and market- makers to avoid a repeat of the issues that plagued ETFs during Aug. 24s market turmoil, according to five people with direct knowledge of the matter.
In today's guest commentary, David Weisberger looks back at the trading events of Aug.24 and wonders if this tough trading day was really as bad as the market crash of 1987 and does the market act its own self interest or the public's.
Call it a case of payment for listing flow, akin to payment for order flow in the equities market. BATS unveiled its ETF Marketplace and its unique feature of luring in listings.
For years, exchange-traded fund trading volume surged. Now, its slumping too. Nasdaq, NYSE and BATS are now slugging it out with incentives, new order types and a new ETF-focused exchange to resuscitate trading.
The major exchange operators are in pitched battle to win market share and build up volume of trading in exchanged-traded funds.
The Securities and Exchange Commission is set to decide by Dec. 8 whether to approve proposals by the Nasdaq Stock Market and NYSE Arca to permit sponsors of exchange-traded funds to pay broker-dealers for making a market in their securities.
Bank of America Merrill Lynch plans to expand the number of exchange-traded funds traded by its ETF-specific algo. Known as ETF-aXe, the two-year-old algo currently trades 300 ETFs. The new editions could include funds that go beyond just U.S. stocks.
With the current volatility of the equities markets, investors know they need to have exposure to bonds, but they often desire the ease and liquidity of equities, which can be provided by exchange-traded funds. Customers want fixed-income safety and stock convenience, which has driven PIMCO-the don of bonds-into the world of ETFs.