The office of New York Attorney General Eric Schneiderman sent subpoenas to six high-frequency trading firms as part of an investigation into whether certain participants in the market have unfair advantages over others.
Fidelity has begun work on the creation of a new equity trading venue that would be a collaboration among big mutual fund firms. The new marketplace would focus on reducing costs and streamlining trading for investment firms.
Securities and Exchange Commission officials, including some commissioners, are considering a trial program to curb maker-taker fees and rebates, the Wall Street Journal reported today. Regulators are becoming increasingly concerned that market prices are being distorted, the paper quotes SEC officials as saying.
Three traders are suing CME Group, owner of the world's largest futures market, for allegedly selling information to high-frequency traders ahead of other market participants. CME has denied any wrongdoing.
Goldman Sachs is considering shutting down Sigma X its dark pool trading venue. The company is reportedly weighing whether the revenue it earns from the business is worth the risks of potential trading glitches or regulatory scrutiny, the Wall Street Journal first reported.
As bond market participants wrestle with how to replace lost liquidity, the situation has now attracted the attention of an equity market player. Liquidnet, a dark pool that spans 5 continents and counts 740 asset managers in its network, is making its first foray into the bond market with its acquisition of Vega-Chi.
Nasdaq and NYSE Euronext are joining forces to support a rule that could potentially limit dark pools and drive trading to exchanges in a proposed pilot program under consideration by the Securities and Exchange Commission. The rule is called the "trade at" rule and it could potentially be added to the pilot program to widen tick sizes.
The Depository Trust & Clearing Corp's lawsuit against the U.S. Commodity Futures Trading Commission will proceed in a pared-down form. A U.S. District Judge threw out three of five counts in the case, in which the DTCC alleges that CFTC policies have put it at a competitive disadvantage in terms of swaps data reporting.
Nasdaq has officially launched its Nasdaq Private Market, a platform for private companies to raise capital, control secondary transactions and manage equity-related functions. Nasdaq is not the...
Hong Kong's Securities and Futures Commission (SFC) is proposing limiting dark pools to institutional trading only and excluding retail investors. Initial reaction to the proposal appears positive as dark pool operators in Hong Kong say retail investors are not significant participants in those markets.