What is the Value of Market Fragmentation? - Nasdaq
With 13 exchanges currently and three more on the way, it’s an interesting time to ask, “How much does fragmentation benefit investors?”
Trading
On which exchanges do Bitcoin whales show the most activity - ForkLog
The number of Bitcoin whales has approached the level seen in September 2017, when Bitcoin moved toward its all-time high around $20,000. The indicator has been rising steadily since the start of the year, suggesting th…
Why ETFs Withstood the Coronavirus Crash - Tradeweb
This piece was originally published in March 2020. It has been updated to reflect ongoing developments. Jeffrey Cheng, Tyler Powell, and David Skidmore contributed to earlier versions.
An Intern’s Guide to the Market Structure Galaxy - Traders Magazine
It’s that time of year. Many of you, like us, have interns and new hires joining the desk and needing to learn all about markets for the first time. So we decided to put together an “Intern’s Guide to the Galaxy” to hel…
MayStreet Raises $21M for its Capital Markets Data Platform That Powers the Financial Services Industry - AlleyWatch
The Four V’s of big data are Volume, Variety, Velocity, and Veracity such that firms in global capital markets need the ability to execute on all four V’s in unison and well in order to compete. MayStreet, the capital m…
SGX to acquire remaining stake in BidFX for $128 million - The TRADE
Singapore Exchange (SGX) has confirmed it will fully acquire institutional FX trading platform provider BidFX from TradingScreen for $128 million.
INTL FCStone to rebrand as StoneX Group - The TRADE
US broker and clearing firm INTL FCStone has confirmed it will rebrand to become StoneX Group shortly after completing its acquisition of online trading services provider GAIN Capital.
CMC Markets launches Prime Derivatives platform in Australia - FX News Group
UK based FX and CFDs broker CMC Markets has announced the Australia launch of its new Prime Derivatives platform, an advanced trading system providing institutional and professional partners in Australia with enhanced a…
World’s oldest exchange is Europe’s hottest venue of stock market listings - Gulf Times
For two years in a row, Europe’s largest stock-market listings have taken place in Amsterdam, which has beguiled companies with a deep pool of international investors and corporate governance norms that tilt in favour o…
Virtu Financial launches data-as-a-service platform - The TRADE
Virtu Financial has unveiled a new data-as-a-service platform via its brokerage and analytics division that provides access to multi-asset market data to subscribers.
Are Designated Market Makers Better in Stressed Markets? - Markets Media
NYSE’s Designated Market Makers (DMMs) are marketed as a way to intervene in trading, especially on volatile days, to absorb imbalances and to reduce volatility. Data shows that in reality, NYSE DMMs and floor brokers s…
Crypto exchange spreads soared during March market meltdown, B2C2 data shows - The Block
Spreads across digital asset exchanges soared during March as anxiety gripped global markets, according to data compiled by cryptocurrency over-the-counter trading firm B2C2.
A UBS exec lays out the benefits and pain points of all-electronic trading after coronavirus concerns cleared the floor at NYSE - Business Insider
With exchanges' physical trading floors empty amid concerns over the spread of the novel coronavirus, some on Wall Street are asking if they should keep their doors closed for good.
Ex-HKEX techies building crypto-venue play - digfingroup.com
As titans gird for battle over institutional crypto trading in Hong Kong, one startup is attempting to break through on the strength of its backers’ expertise, rather than any existing franchise.
Four Options Exchanges Are Best in Class - Traders Magazine
According to recent statistics published by Tabb Group, that honor goes largely to the group of four traditional pro rata options exchanges. On average, they bested their newer, time-priority rivals in four categories t…
FX trade execution: complex and highly fragmented - Bank for International Settlements
The 2019 Triennial Survey shows that trade execution has undergone rapid change, with more diverse participants, new technologies and increasing complexity. Electronification advanced the fastest in dealer-to-customer t…
Offshore markets drive trading of emerging market currencies - Bank for International Settlements
FX markets for the currencies of emerging market economies grew more rapidly than those for major currencies between 2016 and 2019, rising from 19% to almost 25% of global turnover. At the same time, these currencies at…
Esma: Mifid II has failed to reduce cost of market data - Financial News London
There are also key regulatory changes expected in relation to market integrity and data, buy-side and retail topics, and digitalisation and DLT. In this article, we explore the upcoming milestones for 2026 and look ahea…
Are Dark Pools All the Same? Form ATS-N Says "No" - Traders Magazine
For years, buyside traders have complained – quite fairly – that dark pool trading rules and activity are far too opaque. In response to this criticism and to the numerous regulatory actions taken against dark pool oper…
Bumps in the road: IEX on the record - IFLR
The following script is from "Rigged" which aired on March 30, 2014. Steve Kroft is the correspondent. Draggan Mihailovich, producer.
Independent TCA still a challenge in FX market - Euromoney
During a presentation on FX market fragmentation at TradeTech FX 2019 in September, Andrew Hauser, executive director for markets at the Bank of England (BoE), spoke of the merits of responding to the challenge of great…
The Leading Crypto Data and Trading Service Adds Decentralized Trading Data - PR Newswire
DETROIT, Oct. 22, 2019 /PRNewswire/ -- To date, cryptocurrency exchanges and decentralized financial markets have grown alongside each other with little overlap. That's about to change.
Sweetening the Deal: Exchange Rebates, Then and Now - Markets Media
While the exchange landscape looks different these days with fewer exchange operators than eight years ago, some things still are constant – such as the battle for order flow and payment of rebates to get it. However, t…
Hong Kong exchange puts in £32bn bid to buy the London Stock Exchange Group - The TRADE
Hong Kong Exchanges and Clearing (HKEX) has made a £32 billion offer to buy the London Stock Exchange Group (LSEG) in a colossal move to combine two of the largest market infrastructures in the world.