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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”.
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 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.
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 proprietarytrading firms.
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.
An Acuiti report from March found that almost 68% of proprietarytrading firms are planning to trade on new exchanges in 2024, with Brazil touted as a main area of focus, along with Asia-Pacific.
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.
In 2023, Spain joined a growing list of European countries set to introduce new restrictions on instruments aimed at retail investors, which would ban the promotion of CFDs and restricting leverage on other instruments. Meanwhile, only 14% of respondents expressed that there would be a decrease in listed volumes, while 34% expect no change.
Zabel argued that the SEC believes that while “the confidentiality of short sellers should be protected, activists are not entitled to similar protection” even though their proprietarytrading strategies carry similar value. For access, log in to TheDeal.com or use the form below to request a free trial.
A recent LSEG and Coalition Greenwich report from Q4 2023 highlighted exactly this uptick in views around outsourced trading, wherein 66% of buy-side respondents confirmed their belief that outsourced desks could provide them with better access to liquidity, while 63% highlighted improved execution quality and trade performance.
Settling trades gross operationally carries a higher degree of risk than a payment versus payment netting platform which, in my opinion, is really the whole purpose of CLS. Baillie Gifford is one of a handful of firms that have opted to open a new trading desk in New York on the back of the US’ move to T+1. I’m not seeing it yet.
Next up in our introduction to the distinguished nominees for Leaders in Trading2023 Editors’ Choice Awards, we bring you the shortlist for Outstanding FX Trading Venue, showcasing excellence in the foreign exchange community.
These measures included mandates for constraints on proprietarytrading (known as the Volcker Rule), and enhanced supervision of derivatives markets, as well as increased capital reserves. On 30 June 2023, Livor was replaced by the Secured Overnight Financing Rate (SOFR).
The banks and proprietarytrading firms who are ready to go have more than 40% of the market share on Xetra today, and we also have some more in the pipeline that are interested and in preparation. we allowed time for everyone to get prepared. Therefore, there’s no overtaking. I think thats compelling.
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