Keeping you informed with the
latest industry news
ICYMI
In case you missed it, here’s the top
five stories from thetradenews.com
over the last quarter
1
“Some of the global
buy-side firms are
using OMS software
that is already
interfaced to BIDS
Trader.”
MARK HEMSLEY,
CEO, BATS EUROPE
Exit from options
Interactive Brokers will discontinue its options
market making business globally after 25 years
of operation, shifting focus towards its brokerage
platform.
2
Unimpressed with algos
A recent poll of buy-side head traders found the
majority are unsatisfied with the standard algo-
rithms provided by their brokers, as they look for a
more personalised way to execute trades.
3
Closing loopholes
The European Securities and Market Authority
(ESMA) has urged the European Commission to
adopt delegated acts to close a loophole in the
systematic internaliser (SI) regime under MiFID II.
4
manual and automated users, allowing interaction to
occur in one place.”
Hemsley said integrating OMS and EMS can be time
consuming and costly, but BIDS Trader has many fea-
tures which allow an easy integration for firms.
“BIDS Trader already has a large number of OMS
integrations in place. Some of the global buy-side firms
are using OMS software that is already interfaced to
BIDS Trader.”
CBOE officially completed its acquisition of Bats
Global Markets earlier this month in a cash and stock
transaction valued at $3.4 billion.
The acquisition has provided CBOE, which in the
past has stayed away from takeovers, a gateway into
the European equity and exchange traded fund (ETF)
market.
Shifting to electronic
JP Morgan is expected to see around a quarter of its
total markets revenues to shift to electronic exe-
cution. Daniel Pinto, CEO of JP Morgan’s corporate
and investment banking (CIB) division, said that
changes in market structure could see a potential
$5.5 billion in revenue move to electronic execution.
5
Buy-side clients
Virtu Financial has European buy-side firms lining
up for its market making and technology services
ahead of MiFID II, according to chief executive
officer Doug Cifu. He said European regulations is
bringing the firm closer to the buy-side, with rules
over unbundling making the market maker increas-
ingly enticing for asset managers.
Issue 51
TheTradeNews.com
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