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Prop trading firms turn to Middle East as they consider leaving Europe in the wake of IFPR

The TRADE

Both the US and Switzerland were popular amongst lower latency trading firms, said Acuiti. Looking at the most recent findings, the first half of 2023 has proved “challenging” for prop trading firms, said Acuiti, which highlighted “the back of a drop in volatility, rising costs and increased regulation”.

Trading 110
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Proprietary traders prioritising FX as rising costs lead firms to trade fewer products and markets

The TRADE

The report focuses on the rising cost of trading, finding that 33% of surveyed respondents are currently reducing their presence in some markets or products as a result, with 29% highlighting that they are trading less overall due to these high costs. This shows their plans to expand and optimise their current trading setups.

Trading 81
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Aquis set to begin charging members for non-displayed data after 10 years of no fees

The TRADE

Trading fees, subscriptions, and message tiers remain unchanged, The TRADE understands. Market data revenues for 2023 were up 23% to £3.7 Speaking to The TRADE at the time of the decision, Aquis’ Haynes said it was time for the exchange to reflect on its various offerings brought to market by its inception over 10 years ago.

Trading 119
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Aquis’ diversification strategy a significant factor in strong H1 results

The TRADE

Read more: Aquis Exchange acquires minority stake in US block trading start-up OptimX Markets Aquis markets currently holds a 5.1% Notably, last week Aquis Exchange relaxed its ban on proprietary or non-client firms on its UK and EU trading platforms, set to allow access for more aggressive proprietary trading firms.

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The TRADE’s most read stories of the year part three: Regulation, consolidation and resignation

The TRADE

Cboe names new chief executive as Edward Tilly resigns over undisclosed personal relationships Coming in at number four in The TRADE’s most read stories for 2023 was news in September that Cboe Global Markets’ chief executive officer Edward Tilly had resigned over undisclosed personal relationships.

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Avelacom enhances low latency service offering following authorisation from Brazil Stock Exchange

The TRADE

An Acuiti report from March found that almost 68% of proprietary trading firms are planning to trade on new exchanges in 2024, with Brazil touted as a main area of focus, along with Asia-Pacific.

Stock 64
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Euronext continues investment in clearing business with 50 new hires

The TRADE

The exchange group set out plans at the end of 2021 to grow the Euronext Clearing’s headcount by 65% at the end of 2023, amounting to roughly 50 new hires across its risk, technology, sales and product development functions. The ongoing clearing migration is expected to contribute significantly to €115 million in synergies by the end of 2024.