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Mar 25, 2015

U.S. SEC proposes more oversight for high-speed traders

WASHINGTON/NEW YORK March 25 (Reuters) – High-speed stock
trading firms that execute transactions away from exchanges
would be subject to greater regulatory oversight under a
proposal unveiled on Wednesday by the U.S. Securities and
Exchange Commission.

The plan, which the regulator is issuing for public comment,
would require as many as 125 SEC-registered broker dealers, many
of which are high-speed trading firms, to register as members of
the Financial Industry Regulatory Authority (FINRA), Wall
Street’s self-funded regulator.

Mar 20, 2015

BATS aims to be No. 1 in U.S. ETF listings within 3-5 years

NEW YORK (Reuters) – BATS Global Markets plans to aggressively expand its listings business for exchange-traded funds, with the goal of being the No. 1 ETF listing venue within three to five years, the head of the exchange operator’s U.S. markets said on Friday.

The company made its first foray into ETF listings in January 2012 with a handful of BlackRock Inc’s iShares ETFs. It is now home to 31 ETFs, with ProShares, ValueShares, and KraneShares also listing products on BATS.

Mar 11, 2015

Nasdaq to challenge ICE and CME with new energy futures market

BOCA RATON, Florida (Reuters) – Nasdaq OMX Group said on Wednesday it is expanding into energy derivatives with energy futures and options set to trade on the Nasdaq Futures Exchange at less than half the prices charged by incumbents CME Group and Intercontinental Exchange.

The energy futures and options products, collectively called Nasdaq Energy Futures, will be based on oil, natural gas, and U.S. power benchmarks, and are expected to begin trading by mid-year.

Mar 6, 2015

Nasdaq market share drops in fee and rebate cutting experiment

NEW YORK (Reuters) – Nasdaq OMX Group (NDAQ.O: Quote, Profile, Research, Stock Buzz) said on Friday its experiment in lowering exchange fees and rebates in 14 stocks has so far led to lower market share in those names on its exchange as many electronic market making firms sought higher rebates elsewhere.

The experiment, which began on Feb. 2 and will run for at least four months, includes 14 stocks that had their associated fees lowered on Nasdaq’s exchange to 5 cents per 100 shares from 30 cents per 100 shares, and their rebates cut to 4 cents per 100 shares from 29 cents per 100 shares.

Feb 24, 2015

Exclusive: BATS Global Markets names Concannon CEO as of March 31

NEW YORK (Reuters) – BATS Global Markets is appointing Chris Concannon, who recently joined it from electronic trading firm Virtu Financial LLC, to succeed Joseph Ratterman as chief executive officer of the exchange operator, Ratterman said in an interview on Tuesday.

Concannon, 47, who until December was chief operating officer of Virtu, said BATS was mulling expansion moves including opening a second U.S. options exchange. He will take over as CEO from Ratterman, 48, on March 31.

Feb 5, 2015

ICE profit tops forecasts, CEO touts NYSE’s potential

NEW YORK, Feb 5 (Reuters) – Intercontinental Exchange Inc
on Thursday reported higher-than-expected quarterly
earnings as the exchange and clearing house operator further
integrated its $11 billion purchase of NYSE Euronext from the
year-earlier quarter.

ICE said it earned $288 million in the fourth quarter, or
$2.54 a share, compared with a loss of $176 million a share, or
$1.83 a year earlier following the purchase of the New York
Stock Exchange owner.

Feb 3, 2015

Credit Suisse exits U.S. retail market making business

NEW YORK, Feb 3 (Reuters) – Credit Suisse Group is
getting out of the U.S. equity retail market making business by
the end of the first quarter after failing to gain enough scale
to make a go of it, the bank confirmed on Tuesday.

The decision was part of Credit Suisse’s ongoing review of
its investment banking business and does not affect the rest of
its retail execution services operations, the Swiss bank said in
a statement. Credit Suisse also runs Crossfinder, the largest
non-exchange U.S. stock trading platform, or “dark pool.”

Feb 2, 2015

Exclusive – U.S. retail brokers, to avoid regulators’ wrath, disclose more

NEW YORK (Reuters) – U.S. retail brokers, looking to combat claims that they fail to get the best possible prices on trades for their mom-and-pop customers, plan to give clients more information about how their trades are executed.

Regulators at the U.S. Securities and Exchange Commission are looking at whether discount brokers have conflicts that result in individual investors missing the best possible deal when buying or selling shares.

Jan 27, 2015

Wall Street back to ‘business as usual’ as storm wanes

NEW YORK (Reuters) – Wall Street was largely back to business as usual on Tuesday after a storm that had threatened to blanket New York with a few feet of snow ended up dumping several inches instead.

Major U.S. stock and bond markets were open, with trading volumes higher than they had been the previous day, when ominous weather forecasts and transit shutdowns put a chill on business activity.

Jan 27, 2015

Wall Street ready for ‘business as usual’ as storm wanes

NEW YORK, Jan 27 (Reuters) – Wall Street geared up for a
regular securities trading session on Tuesday as a snow storm
that effectively shut down New York City was downgraded from a
blizzard to a winter storm in the immediate metro area.

The New York Stock Exchange, a unit of Intercontinental
Exchange Inc. and one of the main cogs of the U.S.
financial markets complex, expected to be open for “business as
usual,” spokesman Eric Ryan said.