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News & Commentary
Content tagged with Exchanges posted in April 2013
Nasdaq OMX Launches ETF Exchange
News  |  4/30/2013  | 
The market maker has recast one of its three exchanges for the trading of exchange-traded funds. Just in time as it takes on dark pools before the SEC.
Differences Between Dark and Lit Trading
Commentary  |  4/29/2013  | 
Distinguishing between "dark and lit" trading venues in strategy discussions must consider the order size because small trades parsed algorithmically across venues have a different impact on information leakage than block trades.
EBS's Plan to Slow Down HFT in FX Could Influence Other Regulators
Commentary  |  4/29/2013  | 
The electronic FX platform trading platform has a proposal to reduce the speed advantage of HFT players because the technology arms race has gotten out of hand.
Nasdaq OMX to Re-Launch PSX for Exchange Traded Products
News  |  4/29/2013  | 
Offers new market maker programs with economic incentives to reward individuals who meet quoting requirements on a per-security basis.
CBOE Explains Systems Outage was Due to a Software Bug; Expert Says More Needs to be Done to Prevent Incidents
News  |  4/26/2013  | 
One software expert said that CBOE's software problem was a sign that exchanges are rushing out software and that the SEC needs to do more with compliance to set a level playing field.
CBOE Outage Forces Institutions to Scramble for Alternatives
News  |  4/25/2013  | 
A systems delay at the CBOE shutdown trading in the big stock index options contracts for three and one-half hours, raising questions about the safety of electronic markets.
As Regulators Eye Dark Pools, Canada is in the Spotlight
Commentary  |  4/25/2013  | 
In Part II of their series, Capco consultants examine Canada’s new rules on dark pools, comparing the similarities and differences in the way that dark pools are regulated in Canada versus the United States.
BlackRock Strikes Alliance with MarketAxess for Corporate Bond Trading, Scraps Plans for ATN
News  |  4/24/2013  | 
The money manager is partnering with MarketAxess to seamlessly integrate its fixed income trading portal with BlackRock's Alladin system to source liquidity in corporate bonds, while nixing plans for its own buy-side crossing network.
Credit Suisse No Longer Reporting Dark Pool Volumes, Takes Away from Transparency
News  |  4/23/2013  | 
The largest dark pool's decision to stop reporting its volume statistics most likely relates to concerns that U.S. regulators are targeting off-exchange volumes.
How Dark Are The Pools?
Commentary  |  4/16/2013  | 
Dark pools provide an avenue for large institutional investors to trade anonymously with minimal market impact and can help operators improve pricing and reduce transaction costs for clients, but they are not exempt from regulatory concerns.
ISE Announces Gemini as Name of New Options Exchange
News  |  4/12/2013  | 
Pending SEC approval, ISE expects to launch Gemini, its second options exchange, in Q2.
Nasdaq, CME Building Superfast HFT Link
News  |  4/11/2013  | 
High-speed traders are going to see new boost in their market information rates thanks to a straight line of microwave towers between CME’s datacenter in Illinois and Nasdaq’s in New Jersey.
S&P Dow Jones Licenses 3 New Credit Spread Indices to trueEX
News  |  4/10/2013  | 
Electronic swaps exchange trueEX will create futures contracts based on the independently managed and calculated indices, and will be the first regulated exchange to offer exposure to corporate credit spreads.
Nasdaq OMX Enhances UltraFeed
News  |  4/9/2013  | 
Nasdaq OMX's UltraFeed now includes U.S. equity market depth data from Nasdaq, NYSE Euronext, Direct Edge and BATS exchanges combined into a single feed. .
LULD Into a False Sense of Security?
News  |  4/8/2013  | 
Rosenblatt Securities' Justin Schack discusses Limit-Up-Limit-Down and the Removal of NYSE LRPs.
New Limit Up/Limit Down Rules Start Today
News  |  4/8/2013  | 
New limit up/limit down rules will add additional complexities to the markets in an attempt to curb volatility. Let's see how they actually work.
Nasdaq's eSpeed Acquisition Gets Pro and Con Reactions
Commentary  |  4/3/2013  | 
The exchange operator's plans to acquire the electronic trading platform for U.S. Treasury bonds and notes raised concerns with analysts at credit rating agencies. But the move will also diversify Nasdaq away from stocks into fixed income products.
PDQ Enterpises Inks Deal with Orbis Systems
News  |  4/1/2013  | 
Retail institutional clients will gain direct access to PDQ's ATS and "electronic algorithmic trading crowd" via the Orbis trading platform.

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