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Technological advancements and the demand for low-cost, fast trade executions could drive growth for electronic trading companies.
CME Group Inc.
Intercontinental Exchange, Inc.
Thomson Reuters Corporation
Interactive Brokers Group, Inc.
MarketAxess Holdings Inc.
Cboe Global Markets, Inc.
Virtu Financial, Inc.
BGC Partners, Inc.
Turnover on some of the world's biggest currency-trading venues has dropped as falling market volatility prompts some global banks to route more volumes onto their internal platforms, the Bank for International Settlements said in a quarterly report. Electronic trading between banks on the world's biggest platforms -- owned by Refinitiv, partly owned by Thomson Reuters and EBS, part of the CME Group, among others -- has fallen by 7% to $368 billion per day in 2019 from a similar survey three years ago. The BIS, known as the central bankers’ bank, noted these electronic inter-dealer brokerage systems, which are central to FX trading, now constitute only for a small portion of the turnover in the market even though they remain essential in price discovery.
to allow companies to raise capital through direct listings, setting back efforts to expand the low-cost alternative to traditional initial public offerings. NYSE proposed the changes last month in a regulatory filing in which it set out rules for “primary direct floor listings” in which companies could raise a minimum of $250m. “We remain committed to evolving the direct listing product,” an NYSE spokesperson said in a statement.
New Jersey-based BlockFi is extending their services to allow customers to trade their cryptocurrencies with zero fees attached.
Kelly Loeffler was the smooth investor-relations chief who pitched Intercontinental Exchange to Wall Street. Now she is promoting President Donald Trump’s border wall. When the executive from the Atlanta-based exchange group on Wednesday was named a Republican senator for the southern US state of Georgia, she wasted no time professing loyalty to the president.
FT subscribers can click here to receive FirstFT every day by email. Nearly two-thirds of Americans say this year’s record-setting Wall Street rally has had little or no impact on their personal finances, ...
With the 2010s officially drawing to a close, Yahoo Finance took a look at some of the biggest S&P 500 winners and losers of the past decade based on price returns.
Malaysia’s former prime minister Najib Razak has sought to shift the blame for wrongdoing linked to the multibillion-dollar scandal at the state wealth fund on to the fugitive financier Jho Low, as he took the stand in his trial for the first time. The former leader is defending himself against seven charges of money laundering, breach of trust and abuse of power involving SRC International, a former subsidiary of 1Malaysia Development Berhad, the government investment fund from which the US Department of Justice alleges $4.5bn has gone missing. Mr Najib, who founded 1MDB in 2009, said he had no personal interest in SRC and denied involvement in the fund’s inner dealings and in appointing its management executives.
Exchange operator CME Group said on Tuesday it would be the first futures exchange to launch trading of three liquefied natural gas (LNG) freight futures contracts on Dec. 23. The move shows growing demand for hedging tools in the quickly developing and increasingly volatile LNG market, with the introduction of freight derivatives having lagged behind the development of financial tools to hedge gas volumes. "The biggest unhedged risk (on the LNG market) is on the freight side," Owain Johnson, CME Group global head of product development and research, told Reuters.
Hong Kong said on Thursday it had failed to meet its own pledge of "potty parity", a policy aimed at ending an imbalance witnessed the world over: the long queue for the women's loo. An official audit released on Wednesday found that Hong Kong authorities had failed to meet their own guidelines, in place since 2004, to provide two female toilets for every one for men. More than half the city's public toilet sites failed to meet the ratio, the Audit Commission said in its latest report.
Nasdaq’s Quandl, a leading alternative data provider, today launched the E-Commerce Intelligence (ECI) dataset, which allows investors to track product-level e-commerce transactions on a near real-time basis. The exclusive dataset follows the day-to-day transactions of 800 brands and 500 companies across more than 350 e-retailers in North America and EMEA, capturing US$15 billion worth of product sales annually.
London Stock Exchange shareholders overwhelmingly backed the exchange's $27 billion takeover of data and analytics company Refinitiv on Tuesday, a deal designed to broaden LSE's trading business and make it a major distributor of market data. LSE Chairman Don Robert told a shareholders meeting in London that the exchange's board was unanimous in recommending the Refinitiv deal because it was a "compelling opportunity" in the best interests of shareholders and the company. One shareholder asked whether the LSE was simply bulking up to avoid becoming a future takeover target.
London Stock Exchange shareholders met on Tuesday to vote on the exchange's $27 billion takeover of analytics and data company Refinitiv, a deal designed to broaden LSE's trading business and make it a major distributor of market data. LSE Chairman Don Robert told the meeting in London that the exchange's board was unanimous in recommending the Refinitiv deal because it was a "compelling opportunity" in the best interests of shareholders and the company. One shareholder asked whether the LSE was simply bulking up to avoid becoming a future takeover target.
Interactive Brokers is offering Fractional Share trading, broadening access to more expensive stocks and facilitating portfolio diversification.
Two giants in the retail brokerage industry are reportedly set to merge into one behemoth, triggering further industry consolidation amid the race to $0 trading fees.