A-Team CEO Angela Wilbraham’s October 9 blog on the FISD’s WFIC event this month elicited a vitriolic response from one attendee, who picked up on Wilbraham’s observation of a slight, erm, tension between data consumers and data vendors at the conference.
The addition of Turquoise to the industry working group set up by fellow multilateral trading facilities (MTFs) to develop and maintain a uniform symbology framework for European equities is lending credence to the idea that the group may be seeking to introduce a consolidated tape of order data. The industry has been calling for a widely distributed pan-European order book ever since a failure of the London Stock Exchange’s TradElect system last October left the marketplace with no benchmark pricing.
Turquoise has joined the industry working group set up by fellow multilateral trading facilities (MTFs) to develop and maintain a uniform symbology framework for European equities. The group was formed last October by Bats Europe, Chi-X Europe and Nasdaq OMX Europe to address the challenges posed by conflicting stock symbols used in European equities trading.
Following repeated calls from market practitioners for the institutions of a pan-European ‘consolidated tape’ along the lines of the US’s SEC-mandated National Best Bid and Offer system, individual suppliers have moved to fill the void, which is being cited by some as a major obstacle in instituting best execution, as defined under MiFID.
Scoach Switzerland has teamed with fellow SIX Group affiliate SIX Swiss Exchange to develop an Internet-based quality control system service aimed at boosting transparency in trading in warrants and structured products.
Originally appeared in MiFID Monitor
Following the announcement towards the end of last year that a group of European multilateral trading facilities (MTFs) would be working together to develop a common symbology system and pricing data service for European stocks, the group has indicated it is conducting meetings regarding the plans this week.
Originally appeared in MiFID Monitor
Three leading and emerging European multilateral trading facilities (MTFs) have teamed up to boldly go where no man has gone before – that is, to create a common symbology for market data on securities traded across Europe’s suddenly and increasingly fragmented markets. Bats European Markets Division, Chi-X Europe and Nasdaq OMX Europe have formed an open industry working group to develop a uniform symbology framework for trading European stocks.
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