Somebody’s Watching You

Posted by Steve Grob on September 29, 2009 · 1 Comment 

Spent a busy few days travelling round the Nordics last week. The trip culminated in my participation in a debate hosted by John Lauritsen at the Copenhagen offices of Carnegie that pitched the mighty OMX exchange against Chi-X which has been stubbornly building its Nordic market share over the past few months. Given that up to 20% of some Nordic stocks are now regularly traded on the Chi-X platform instead of OMX the stakes were pretty high. Representing OMX was the imposing... Read More

Filed under Europe Lit venues

Dark Forces

Posted by Steve Grob on September 16, 2009 · Leave a Comment 

At the beginning of September, BATS Europe announced further extensions to its inverted pricing model to include FTSE 100 stocks. At the same time NASDAQ OMX Europe extended its aggressive rebates, too. The LSE’s approach to these pricing pressures was to abandon its own maker taker price list and revert to its wholesale discount model. This was widely seen as favouring the big banks and brokerages which can generate high volumes but was also seen by some observers as potentially... Read More

Filed under Dark pools Europe Lit venues

The Rise of the Micro MTF – Cheaper or Smarter?

Posted by Steve Grob on September 7, 2009 · Leave a Comment 

It was great to spend some time in Stockholm last week and even better to get so much positive feedback on our new improved coverage of the Nordic region. When I got back, though, I noticed that a less well known MTF – QUOTE MTF – had announced that it had “gone live”. QUOTE MTF is backed by SwiftTrade and is representative of the new breed of micro MTFs that are seeking to challenge the business models of the “traditional” MTF community. In QUOTE MTF’s... Read More

Filed under Europe Lit venues

Nordic Makeover

Posted by Steve Grob on September 1, 2009 · Leave a Comment 

I mentioned a while back that we were working to improve our coverage of the Nordic region and so it’s great to report that this work is now complete. As you can see, the most obvious addition is the inclusion of Burgundy. Speaking with Olof (Burgundy’s CEO) he told me that: “Multi-venue trading is new to the Nordic region so our participants are now deeply involved in their technology projects to enable SOR capability.” This should be good news for technology... Read More

Filed under Europe Lit venues

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