Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Europe braces for MiFID II as regulators assess market impact

The Committee of European Securities Regulators says further regulations may be needed to address some of the unintended consequences arising from the introduction of the Markets in Financial Instruments Directive (MiFID) in 2007.

10 June 2009

News/MiFID

Chi-X to launch dark pool

Chi-X Europe is to launch a dark liquidity pool in Q2 2009, subject to regulatory approval.

22 April 2009

News/MiFID

Deutsche Börse plans pan-European market

Deutsche Börse is set to launch a pan-European market, based on its Xetra electronic trading platform, as it looks to take on the raft of new competitors to have emerged in the wake of MiFID.

16 April 2009

News/MiFID

Nyfix amends Euro Millennium matching algorithm in response to FSA clampdown

Nyfix has amended the matching algorithm on its Euro Millennium dark pool to limit crossing at the mid-point of the reference market price in an effort to comply with a new interpretation of the MiFID rulebook by the UK's Financial Services Authority.

16 April 2009

News/MiFID

Hodgkinson appointed SmartPool head

SmartPool, the European exchange-led dark pool for block trading set up by Nyse Euronext, BNP Paribas, HSBC and JPMorgan, has appointed Lee Hodgkinson as its new chief executive officer

16 March 2009

News/MiFID

Finextra weekly news review podcast

New trading venue launches, research on communication breakdowns between IT and business people at UK banks, M&A activity and new mobile payments services - it's all in this week's news review.

12 March 2009

News/MiFID

Finextra weekly news review podcast

Job cuts, regulatory developments, Web 2.0 in financial services and the latest in the fight against fraud - it's all covered in this week's news review podcast.

05 March 2009

News/MiFID

UBS launches real-time cost analysis for European clients

Swiss bank UBS has launched a real-time transaction cost analysis tool enabling European clients to monitor how their trades are doing while there is still time to affect the order's outcome.

05 March 2009

News/MiFID

MTFs set to win more market share as price competition takes hold

Trading on new multilateral trading facilities (MTFs) in Europe costs less than a fifth of the fees levied by traditional exchanges according to the latest research from TowerGroup.

19 February 2009

News/MiFID

NYSE Euronext completes migration to Universal Trading Platform

NYSE Euronext has migrated trading of all European equities, including exchange-traded fund (ETF) products, listed on the company's Amsterdam, Brussels, Lisbon and Paris markets to its next-generation Universal Trading Platform from the pervious Nouveau Système de Cotation (NSC) platform.

17 February 2009

News/MiFID

CESR finds huge variation in fines for MiFID non-compliance

The Committee of European Securities Regulators (CESR) has published a review of supervisory powers and practices, and administrative and criminal sanctioning regimes across Europe in relation to MiFID. It found greater convergance of approaches to regulating markets and MTFs than for investment firms. And it found administrative and criminal fines for non-compliance with the directive differ massively from country to country.

17 February 2009

News/MiFID

Finextra launches Innovation Showcase

Finextra has launched the Innovation Showcase, a new feature on Finextra.com highlighting the most innovative financial technology developments over the past 12 months. Across a broad range of categories it showcases technologies that demonstrate uniqueness and impact, clever ways of solving a problem and projects at the leading edge of new industry trends.

11 February 2009

News/MiFID

Quote MTF to enter pan-European trading market

The crowded European market for stock exchange trading will welcome another new liquidity platform in the coming months with the summer launch of Quote MTF, an upstart independent venue operating out of Hungary.

09 February 2009

News/MiFID

SmartPool greenlighted by FSA; to begin trading next week

SmartPool, the new multi-lateral trading facility (MTF) set up by Nyse Euronext, BNP Paribas, HSBC and JPMorgan, has received Financial Services Authority (FSA) approval to launch its dark pool for block trading in European stocks.

28 January 2009

News/MiFID

EuroCCP makes move on Spain as Turquoise gears up for expansion

DTCC subsidiary European Central Counterparty (EuroCCP) is to extend its footprint to Spain next month, as it provides clearing and settlement support for the next stage in the expansion of the bank-backed Turquoise trading platform.

20 January 2009

News/MiFID

Thomson Reuters launches consolidated tape

Thomson Reuters has launched a consolidated pan-European securities data feed in an effort to combat the fragmentation of market data prices under the MiFID regulatory regime.

19 January 2009

News/MiFID

LSE appoints Baikal commercial director and COO

The London Stock Exchange has appointed a commercial director and chief operating officer for Baikal, its forthcoming dark liquidity trading venue.

14 January 2009

News/MiFID

Deutsche Börse maintains silence as Neonet confirms take-over talks

Swedish agency broker and systems supplier Neonet has confirmed it is in takeover talks. The confirmation comes a day after German newspaper Handelsblatt reported that Deutsche Börse was lining up a bid.

06 January 2009

News/MiFID

Instinet execution data shows 'MTF effect' on European share trading

The success of new alternative European trading venues in winning business away from incumbent domestic exchanges has been demonstrated in the latest batch of execution figures released by Instinet Europe covering the 12 months since the introduction of the Markets in Financial Instruments Directive (MiFID).

10 December 2008

News/MiFID

Markit releases MiFID fragmentation analysis

Financial information outfit Markit has combined with eleven top dealers to provide a consolidated source of aggregated data on market activity and liqudity across fragmenting European trading destinations.

04 December 2008