The Trade | August 12, 2016
ITG’s European general counsel, JP Urrutia, discussed this issue with The Trade team for our latest podcast, urging firms to act sooner, rather than later. On the topic of MiFID II, Urrutia said firms are navigating the regulatory environment in “not just a sea, but an ocean of uncertainty.” “An equivalence under MiFID II might be something that firms can rely on to remain in the city and continue doing business in the UK,” he said. Although he highlighted this comes with its own troubles, as it could be withdrawn at a later stage, but it could allow businesses to “manoeuvre within regulatory framework”.Read more >
The Trade | August 09, 2016
Eric Blake, Managing director at ITG… in Brazil price discovery and the fact that many funds use the close price as a benchmark leads the closing auction to be a daily liquidity events… “We are constantly looking to improve on electronic solutions for our clients, especially in challenging marketing like brazil and Mexico,” Blake says.Read more >
The Trade | July 29, 2016
ITG revealed plans to capture market share of currently bundled execution commissions, with a particular focus on Europe, where MiFID II will force the industry to unbundle. Chief executive officer, Frank Troise, told investors on its quarterly earnings call that ITG expects to pick up a portion of the $8 billion currently paid for bundled execution. “This would expand our addressable market and is likely to offset any potential decline in the size of the overall wallet,” Troise said.Read more >
Bloomberg | July 24, 2016
Hong Kong Exchanges & Clearing Ltd.’s new stock closing auction debuted successfully on Monday, though brokers in the city are said to be pushing for changes to the system, according to two people familiar with the discussions.
The bourse reintroduced the closing auction — a staple of every other developed market — in a bid to reduce volatility and deter manipulation. To do that, it restricted the ability to amend orders, which has some brokerages crying foul. They want to be able to change orders to complete more trades, according to the people, who asked not to be named because the talks are private.Read more >
Automated Trader | July 21, 2016
ITG, the independent broker and financial technology provider, has announced the launch of ITG Smart Market Indicator Forecast App, an application that can help traders anticipate market volumes, spreads and volatility.
The Smart Market Indicator Forecast app generates intraday forecast deviations of future market conditions based on both historical average values and recently observed volume profiles, helping traders to improve trade scheduling and set more accurate algorithm price limits.Read more >