LiquidMetrix analyses major European indices and ranks the competing trading venues based on trading volumes, spreads, order book depths and the percentage of the time they offer the absolute best European prices. This report is updated weekly. The latest values and rankings are based on last week's data and show the change since the previous week along with a one month trend graph.
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- Simple Binary Encoding for high performance market data interfacesThe FIX Trading Community realised that its message encoding was no longer fit-for-purpose for high-performance trading. It came up with the Simple Binary Encoding (SBE) standard to balance the needs of latency versus bandwidth utilisation. We look at how the market data interfaces at the CME Group were implemented with SBE.
- Hide-and-seek in the limit order bookDespite some disadvantages, hidden orders have become increasingly popular on the US stock exchanges. Archana and Chinmay Jain explore this hidden liquidity. Data from 2012-2015 shows that smaller stocks, more volatile stocks and less liquid stocks have higher levels of hidden liquidity.
- MiFID 2 double volume caps - the end of dark trading?A controversial rule in MiFID 2 is the double volume cap mechanism for dark pools. Recently, a quantitative study presented dramatic numbers on the percentage of stocks that would be suspended under the regime. We investigate if the efficient use of large-in-scale trading can help to mitigate the caps.
- How to align broker and customer interests and make exchanges more competitiveUS regulators are focused on conflicts of interest caused by maker-taker rebates. Is there a way to align broker and customer interests and still incentivise liquidity provision?
- The future of dark liquidity in EuropeThe dark trading landscape faces fundamental change once again. The changes in MiFID 2/MiFIR, including dark volume caps, will profoundly affect most dark trading activity, fundamentally altering how institutional investors interact with hidden liquidity.
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- Charles River expands MiFID 2 support22nd December 2017 - Charles River adds continuous evaluated pricing from ICE Data Services for best execution
- Optiver & Equiduct offer best execution for equities and ETFs20th December 2017 - Optiver to support Equiduct in offering retail and institutional brokers best execution for equities and ETFs
- TORA launches AI-driven pre-trade analytics tool20th December 2017 - AI-driven pre-trade analytics tool to help firms meet stricter MiFID II best execution requirements
- Thomson Reuters announces E-learning MiFID II compliance courses19th December 2017 - Thomson Reuters' sell-side, buy-side, market structure, and international reach courses now deliver MiFID II guidance
- FIA: The impact of a no-deal Brexit on the cleared derivatives industry19th December 2017 - White paper to promote a better understanding of the impact of Brexit on cleared derivatives if no agreement is reached between the UK and EU27 prior to 29 March 2019