Price
EU exchanges shake up data policies ahead of new pricing rules
As each EU exchange interprets the RCB regulation differently, market data users across the industry are left to grapple with the new pricing policies changes
Optiver relies on BMLL market data for quant strategy
The market-maker has built its trading business on top of BMLL’s Level 3 data. But the collaboration is young, and the pair have grand plans to make options the next quant frontier.
Friendly fire? Nasdaq squeezes MTF competitors with steep fee increase
The stock exchange almost tripled the prices of some datasets for multilateral trading facilities, with sources saying the move is the latest effort by exchanges to offset declining trading revenues.
Stocks are sinking again. Are traders better prepared this time?
The IMD Wrap: The economic indicators aren’t good. But almost two decades after the credit crunch and financial crisis, the data and tools that will allow us to spot potential catastrophes are more accurate and widely available.
Bond CT hopeful Etrading unveils free tape prototype ahead of tenders
The vendor hopes to provide the long-awaited consolidated tape for bonds in the EU and the UK, demonstrating its ability to do so through ETS Connect.
New study reveals soaring market data spend led by trading terminals
The research finds that 2024 was a record year for overall market data spend, supported by growth in terminal use, new license schemes by index providers, and great price variation among ratings agencies.
Substantive Research reveals new metrics for market data negotiations framework
The research firm will make its industry-derived project available for public consumption next month.
Bond tape hopefuls size up commercial risks as FCA finalizes tender
Consolidated tape bidders say the UK regulator is set to imminently publish crucial final details around technical specifications and data licensing arrangements for the finished infrastructure.
A tech revolution in an old-school industry: FX
FX is in a state of transition, as asset managers and financial firms explore modernizing their operating processes. But manual processes persist. MillTechFX’s Eric Huttman makes the case for doubling down on new technology and embracing automation to…
CBOE and Aquis to make bid for European equities tape
The challenger exchanges have plans to become the second public bidder for provider of the European equities tape, following EuroCTP’s incorporation last year.
New equity trading protocols want traders to show their hand
A new generation of trading venues has emerged with the goal of unlocking liquidity and improving the efficiency of trades.
Size matters: US equity market players wrangle over new tick size regime
The industry expects the SEC to finalize the Reg NMS shake-up as soon as late summer. While there is broad agreement about the need for change, the extent of the reduction in access fees and tick sizes will have a big impact on markets.
Getting aggressive: Overbond uses AI to assess dealer axes
The fixed-income analytics specialist has developed a new tool to help buy-side firms decide if they’re getting a good price from their dealers.
Dark horse: Deutsche Börse building dark pool
New functionality allowing exchange members to execute sweep trades comes hot on the heels of European rival Euronext launching its own dark pool.
Waters Wrap: On EMSs, regulation, and (among others) BlackRock Aladdin
Regulators in the US and Europe have turned their sights on execution management system providers. Anthony examines some of the questions the industry is trying to answer.
The IMD Wrap: Price you gotta pay
With regulators taking aim at data providers in the ongoing war over data fees, Max says that data doesn’t need to be free, but it should be transparent, that price increases should accompany increases in value, and that technology already exists to…
Getting the message out about Aeron’s messaging
A year after Adaptive’s acquisition of Real Logic’s Aeron, the search for users of the open-source tech continues as Adaptive promises that UDP messaging can usurp TCP.
Shall we compare thee to a multilateral trading venue?
As regulators confirm that perimeter guidance applies to tech firms, the focus shifts to enforcement.
Is the equities tape slipping through Europe’s fingers?
The EU has finally reached a compromise on a consolidated tape. But Theo wonders if it is too little, too late.
EU lawmakers struggle to find common ground on equities CT
The debate over a consolidated tape for European equities heated up when a second contender for the role of provider emerged during the EU’s trilogue process. But as the bloc’s three legislative bodies try to reach a compromise, commercial interests are…
Broadridge rethinks the OMS
Through its partnership with Glue42, Broadridge is bringing together the best components of its agency trading and market-making solutions.