ITG » The Blotter

Policing the Dark: Likely Impacts of New Canadian Regulation

ITG — Wed, 25 Apr 2012 16:09:13 +0000

On Friday April 13th 2012, the CSA and IIROC published their final dark pool regulations (“Provisions Respecting Dark Liquidity”) along with an AntiAvoidance Provision (released for comment). ITG’s Canadian market structure experts weigh in.

European Financial Transaction Tax: Danish Position

ITG — Tue, 24 Apr 2012 16:17:29 +0000

ITG’s experts have reviewed the Danish draft position on the European Financial Transaction Tax (the FTT). Importantly, the Danes currently hold the European Union presidency and the leaked document will serve as a basis for discussions that will set the agenda for the full European finance ministers meeting...
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2012 Russell Reconstitution Highlights and Observations

ITG — Fri, 20 Apr 2012 14:23:33 +0000

ITG’s index expert, Charles Behette, breaks down his analysis for the 2012 rebalance in this edition of The Blotter. Of note this year will be increased speculative activity as well as heightened turnover in the Financial Sector.

Coming Changes to the Canadian Market on Close Facility

ITG — Wed, 18 Apr 2012 15:47:23 +0000

In recent weeks the Toronto Stock Exchange has been actively consulting both buy and sell side participants around a variety of potential changes to the Market on Close (MOC) Facility. Our experts think there are several ways in which the MOC can be altered that will be good for the marketplace as a whole, and will outline our proposed changes and the logic behind them in this paper.

Decoding European Regulation is a Matter of timing

ITG — Tue, 10 Apr 2012 16:17:37 +0000

In this edition of The Blotter, Ian Domowitz discusses the complex world of European Regulatory Reform. With MiFR, MiFID, ESMA guidelines, the MAR, and DCS all on the table, it’s tough to keep proposed regulations and new rules straight. Ian...
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MiFID II: Official Publication of European Parliament Report

ITG — Sun, 01 Apr 2012 22:20:58 +0000

In this edition of The Blotter, Juan Pablo Urrutia discusses the long-awaited European Parliament Report on MiFID II. The first installment of this report reveals that Broker Crossing Systems could go the way of the dinosaurs, while dark MTFs could...
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Transaction Cost Analytics in Europe: The London/Paris Divide and Where They Meet

ITG — Wed, 28 Mar 2012 00:01:44 +0000

In this edition of The Blotter, ITG’s team of experts survey 48 respondents in Europe to better understand perceptions and realities related to TCA usage.

French Financial Transaction Tax Introduced

ITG — Fri, 02 Mar 2012 16:44:52 +0000

The French financial transaction tax (French FTT) was adopted February 29 by the French National Assembly despite fierce opposition from the French left (in particular as the proposal was bundled with the abolition of employers’ social contributions and compensated with a rise in sales tax that the French left considers it will hit the poorest hardest). ITG’s Juan Pablo Urrutia discusses the new policy.

A January Shift: Trade Outflows Dominate Developed US and European Markets

ITG — Tue, 28 Feb 2012 16:34:23 +0000

Uncertainty surrounding the European sovereign debt crisis and anemic economic recovery motivated marked asset re-allocation in January 2012. ITG’s Jacqueline King discusses this shift in trade flows.

The Swiss National Bank’s latest CHF ceiling policy

ITG — Tue, 21 Feb 2012 16:27:51 +0000

As an export led economy, the €/ CHF exchange rate is important not just for the Swiss exports to the EU but, also has an impact on the competitiveness of its exports to other regions including the U.S. and Asia. Hence, the logic in the SNB’s response in September to announce a ceiling of 1€: CHF 1.20. ITG’s Juan Pablo weighs in on whether the ceiling will bolster the Swiss economy and floundering exports activity.