Industry participants are split as to the type of impact the next phase of the Markets in Financial Instruments Directive, or MiFID II, which takes effect January 2018, will have, according to a poll of the 1,250 senior executives attending an equities trading and technology conference in Paris. Around one-third of the delegates said that… Read More >>
Deutsche Bank Penalized $37M for Dark Pool Woes
Deutsche Bank has agreed to pay $37 million in penalties, and admit wrongdoing, to settle state and federal charges that it “misled clients about the performance of a core feature of its automated order router that primarily sent client orders to dark pools,” according to a statement from the SEC. Essentially, that misinformation about the… Read More >>
FINRA to Shine More Light on Dark Pools
The industry is getting more transparency into dark pools and other alternative trading systems (ATSes) via the Financial Industry Regulatory Authority (FINRA), which is expanding the data that it provides for over-the-counter (OTC) trading in equity securities. The additional transparency will cover approximately 20 percent of “all trading in National Market System equities,” according to… Read More >>
SEC Pushes to Shed Light on Dark Pool Operations
The SEC has voted to propose new operational-transparency and regulatory-oversight rules for alternative trading systems that trade stocks listed on a national securities exchange (NMS stocks), including “dark pools.” So-called dark pools of liquidity, on private exchanges not available to the general public, have not — at least until now — been transparent, by definition…. Read More >>
Buy Side Wants More Light in Dark Pools: Report
There’s widespread dissatisfaction with the level of transparency at dark pools among asset managers and hedge funds, according to a new report by market research firm, the Tabb Group. Roughly 72 percent of the head traders at 92 asset managers and hedge funds polled by Tabb researchers said they were “dissatisfied with transparency levels in… Read More >>
Neonet Offers Access to Oslo Børs’ Dark Pool
Independent broker and execution specialist Neonet has announced that it will be among the first brokers to provide its clients with access to North Sea, the re-launched dark pool functionality from Oslo Børs, Norway’s stock exchange, officials say. The service will include fully integrated direct market access (DMA), smart order routing, and algorithm support. North… Read More >>
Former Pipeline Trading Exec Joins Fidessa
London-based electronic trading platform and services vendor Fidessa has hired Jay Biancamano, the one-time executive chairman and CEO of Pipeline Trading, to be its new head of equities product marketing for the Americas, a move Fidessa describes as a “key appointment for its sell-side business.” Pipeline was a predictive analytics and algorithmic trading firm that… Read More >>
