On the regulatory front, a handful of new policies are set to affect the options market and will likely enhance transparency, execution, and market data. Meanwhile, the cash equities business has hit a level of maturity and we are now trending toward better tools for block crossing and less resource intensive methods of trading.
In this interview from the Winter 2012/13 issue of Best Execution Magazine, Jim Cochrane talks about the challenges of achieving best execution in the FX market. Learn more
With the German Federal Elections occurring Sunday, European investors are curious about what impact the elections may have on the European regulatory environment. In this version of The Blotter, ITG's European General Counsel, J.P. Urrutia, summarizes some of the expected results and potential impacts, highlighting Germany's importance to regional policy.
In Asia’s equity markets, liquidity continued to rise through the second quarter of 2013. This is a measure that combines turnover, spreads and volatility launched in 2008 with a notional value of 1,000. 2013 therefore has bucked the trend of 2011 and 2012, in which a strong performance for this liquidity indicator during the first quarter was not sustained into the second quarter.
Our analysis of Canadian equities order flow this quarter indicate that HFT activity has scaled back slightly: total order flow reduced, Order-to-Trade ratio decreased, Volume Traded-to-Order ratio increased, and the rate of order activity has slowed down. We also add to the debate over the cost of real-time market data – we describe an objective method to intrinsically value market data using three core factors. How much should market data be valued?