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Rosenblatt's Market Structure News Digest - European Edition

Rosenblatt's Market Structure News Digest - European Edition
  • Optiver may export its direct-bilateral trading model, where it executes trades with the buy side without going through a broker, to the US.
  • Switzerland has unilaterally recognised the EU as having equivalent stock-trading rules, meaning the six-year-old ban on trading Swiss names on EU venues has come to an end.
  • Euronext's plan to migrate ETP listings from six stock exchanges to a single venue has been replaced with a project to consolidate them on three venues. Issuers will decide which exchange gets the most business.
  • Deutsche Börse is the first major European exchange to offer extended-hours trading, but only for retail investors, and only through rolling auctions.
  • Turquoise will allow buy-side traders to submit conditional orders to its dark pool through an interface provided by LeveL Markets, which operates ATSs in the US.
  • The UK's FCA cuts the number of pages of rules governing capital requirements for market makers, but firms still have to set aside the same amount of money.
  • Norway's sovereign-wealth fund is using AI to reduce its spending on trading by 20%.

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