Ths Hong Kong regulator, the SFC, has fined the local branch of Interactive Brokers $4.5 million in relation to failures within its algo and electronic trading systems that resulted in severe market movements in two stock prices in 2015 and 2016.
The incentive scheme whereby Deutsche Boerse will share part of their profits with their largest clients, seems to be paying off. January saw the German clearing house clear seven times the value of OTC derivatives processed in the whole of 2017.
January saw an 885% jump in average daily notional values traded on the Chicago exchange's Periodic Auction book compared to the last quarter of 2017. This suggests that traders are moving to electronic trading post MiFID II.
With the CME having its second busiest ever month and other exchanges reporting strong year-on-year growth in volumes, hope prevails that the strong start to the year will continue and give relief to traders struggling with low volumes and volatility over recent years.
According to a report from Liquidnet buy side companies are moving away from traditional RFQ, voice broking to electronic execution. A major factor in this change is the requirement to show best execution under MiFID II rules.
The chairman of the US regulator has informed brokers that his staff would be verifying the governance of the clearing houses dealing with virtual currency derivatives. This follows concerns raised that self-certification by the exchanges was insufficient for such vola...