Month: March 2010

Farewell, ECNs

The news that Direct Edge has received approval to convert its two ECNs into exchanges brings the number of ECNs in the US down to three, accounting for only 1% of market volume. This is a remarkable turnaround from the days

Posted in Exchanges Tagged with: ,

LCH points out danger of regional differences in clearing regulation

In an interesting letter in today’s FT, Roger Liddell, CEO of LCH.Clearnet raises the issue about global clearing houses vs localised clearing houses. The problem with the way the debate is going on future regulation is that each region is developing

Posted in CCP, Clearing & Settlement, Rules & Regulation Tagged with:

European equity MTFs and their post-trade arrangements

It is not easy to find a single reference source for European equity MTFs and their post-trade services, so we have compiled this table. We have tried to make it comprehensive and accurate (but please inform us of any omissions

Posted in CCP, Clearing & Settlement, CSD, Exchanges Tagged with: , , , , , , ,

SEC new Short Sell Rule – the perfect compromise?

The SEC has been under tremendous pressure to ‘do something’ after all market turbulence and scandals. The old short sell rule, the so-called “uptick rule”, was introduced in 1938 and rescinded in 2007 by decree of the SEC. During the

Posted in Exchanges, Rules & Regulation Tagged with: , ,