The TRADE

MARCH 21, 2024

The European Securities and Markets Authority (ESMA) has released findings from an industry-wide settlement cycle consultation, presenting various viewpoints on exchange trading hours in the context of a shift to T+1. The possibility of extending market hours is something participants have expressed concern over in recent years.

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The TRADE

JULY 8, 2024

Cboe Europe has confirmed plans for the launch of its new volume weighted average price (VWAP) crossing service for equities at the end of this year. Natan Tiefenbrun It will utilise BIDS’ conditional trade negotiation and execution workflow to match orders based on a standard and exchange-regulated VWAP methodology.

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The TRADE

JUNE 5, 2024

First reported by Wall Street Journal, TXSE is aiming for a launch at the start of 2025 and host its first listing in 2026. The TRADE understands that BlackRock has taken a minority investment. The post BlackRock and Citadel Securities back new Texas-based challenger exchange appeared first on The TRADE.

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The TRADE

JULY 18, 2024

The Green Impact Exchange (GIX) is on track to becoming the first sustainability-focused securities exchange in the US to file with the US Securities and Exchange Commission (SEC), and if approved, could begin operations in early 2025. It means your company is sincere in its motivation to follow through on those promises.

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The TRADE

OCTOBER 29, 2024

Pan-European equity exchanges Aquis Exchange and Cboe Global Markets have today set out plans to launch a joint venture that will look to explore making a bid to provide the European consolidated tape. The post Aquis and Cboe to form joint venture intent on exploring consolidated tape bid appeared first on The TRADE.

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The TRADE

DECEMBER 20, 2023

Yet, the evaluation for the CTP is only set to take place from Q1-Q3 2025, with the authorisation of this bond CTP not expected until Q4 2025 – a year on from the initial launch of the bond CTP selection. The post EU and UK regulators reveal updated plans for bond tape frameworks appeared first on The TRADE.

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OfficeHours

OCTOBER 23, 2023

However, for private equity investors, this uncertainty represents a unique opportunity to take advantage of investment opportunities in public markets. A “take-private” transaction in the context of private equity is a process by which a PE firm acquires a publicly listed company and converts it into a privately held entity.

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The TRADE

DECEMBER 4, 2024

Societe Generale has made three new appointments to its Global Markets Activities team in a bid to enhance its fixed income and equities offerings. Elsewhere, New York-based Sylvain Cartieris was appointed head of global markets for the Americas, effective from 1 January 2025. He will report to Francisco Oliveira and Hatem Mustapha.

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The TRADE

JULY 25, 2024

Turquoise and Plato Partnership have made the decision to bring their commercial relationship to a close in 2025. The deal brought the newly rebranded Turquoise Plato to market with the aim of developing efficiencies in the European equities block trading space. The pair have been in partnership since 2016.

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The TRADE

MAY 30, 2024

The European Securities Markets Authority (ESMA) opened up its industry consultation on 23 May inviting participants to comment on how they expect the equities consolidated tape to be delivered. The start-up is now in the process of firming up its plans to make its official bid in 2025.

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The TRADE

MAY 15, 2024

The Colombo Stock Exchange (CSE) of Sri Lanka has announced its decision to shorten its current settlement cycle from T+3 to T+2 for all equity transactions, a move aimed at aligning with international standards. The post Sri Lanka to cut settlement cycle from T+3 to T+2 in June appeared first on The TRADE.

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The TRADE

JANUARY 16, 2024

Currently, Mifir foresees three consolidated tapes for Europe, a bond CT – set to be operational by mid-2025, an equities tape set to be operational in early 2026, and a derivatives CT planned for later the same year.

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The TRADE

JULY 27, 2023

The bank also noted an overall decrease in equity market revenues – citing a “lacklustre environment” during the quarter. decrease, while equity and prime services saw a fall of 3% – demonstrating better resiliency in the face of the dip in client activity. Revenue for the corporate and institutional banking area were down 2.3%

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The TRADE

OCTOBER 2, 2024

FlexTrade and Propellant Digital have collaborated on actionable pre-trade insights for T.Rowe Price’s fixed income trading teams. Firstly, the continued electronification in fixed income and the need to handle increasingly sophisticated data sets have seen desks needing technology to handle their bond trading activities efficiently.

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The TRADE

SEPTEMBER 23, 2024

The additional minimum pricing increment or ‘tick size’ will apply to the quoting of certain NMS stocks, while the reduction in access fee caps will be linked to protected quotations of trading centres. The reforms we adopted will help promote greater transparency, competition, fairness, and efficiency in our $55 trillion equity markets.

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The TRADE

NOVEMBER 27, 2024

Whit Conary, Steve Miele Steve Miele, who currently serves as chief strategy officer, has been appointed new chief executive officer of Kezar Marekts, effective 1 January 2025. Elsewhere in his career, Miele held trading and financial services positions at organisations such as Fidelity Capital Markets and the Boston Stock Exchange.

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The TRADE

SEPTEMBER 27, 2024

A full copy of the report can be found here. The post UK T+1 taskforce publishes recommendations ahead of proposed 2027 switch appeared first on The TRADE.

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Global Newswire by Notified: M&A

MAY 15, 2024

per share, to be paid to its pre-merger shareholders in January 2025 • Vastned Retail will declare and pay an interim dividend of EUR 1.70 per share, to be paid to its pre-merger shareholders in January 2025 • Vastned Retail will declare and pay an interim dividend of EUR 1.70 EUR 2.0 - 2.5 EUR 2.0 - 2.5 EUR 2.0 - 2.5

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Global Newswire by Notified: M&A

MAY 15, 2024

per share, to be paid to its pre-merger shareholders in January 2025 • Vastned Retail will declare and pay an interim dividend of EUR 1.70 per share, to be paid to its pre-merger shareholders in January 2025 • Vastned Retail will declare and pay an interim dividend of EUR 1.70 EUR 2.0 - 2.5 EUR 2.0 - 2.5 EUR 2.0 - 2.5

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The TRADE

SEPTEMBER 19, 2024

Oaktree Capital Management has agreed to acquire Close Brothers Asset Management (CBAM) – the wealth management arm of Close Brothers – for an equity value of up to £200 million, set to be completed in early 2025 pending customary regulatory approvals.

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The TRADE

JULY 17, 2024

Royal London Asset Management’s (RLAM) trading team is no stranger to change. After moving to a centralised equity dealing desk in 2002, the institution added fixed income to the mix to create a multi-asset offering in 2018. More recently though, RLAM’s trading team has undergone another revamp. It’s too broad.

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The TRADE

JUNE 26, 2023

You will free up capital, balance sheet optimisation and effectively have more opportunities for trading in the market and it will come with the additional benefits of compression of margin, netting etc.” Subject to regulatory approvals the service is aiming to launch in September this year.

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OfficeHours

JULY 11, 2023

Is It Possible That On-Cycle 2025 Is Around The Corner? Hey All — Rohit here and it’s been a busy couple of days – word has gotten out about Diversity Events at Megafunds already starting for On-Cycle 2025… needless to say we’ve been pretty swamped with inbounds and LOTS of calls happening.

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The TRADE

JULY 26, 2023

Net revenue for ‘fixed income, currency (FIC) sales and trading’ within the investment bank fell by 9% compared to the second quarter in 2022. Equities AuM remained consistent at 12%, unchanged since last year. Our planned share repurchases enable us to deliver on our goals to distribute capital to our shareholders.

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The TRADE

MAY 23, 2024

Several European exchanges are well underway with plans to bring out offerings of this ilk in the next few months The TRADE understands, while a handful of US alternative trading systems (ATS) are also preparing to make the crossing over to the Bloc to replicate the progress they have achieved in the US.

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Successful Acquisitions

AUGUST 30, 2023

They all have Stockpile online trading accounts and have learned the benefits of dollar cost averaging. Prior to my son heading off to begin college, he asked if he could transfer a position of his savings to the electronic trading platform Robinhood for what he dubbed, “investment purposes.”

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Solganick & Co.

APRIL 24, 2024

Solganick expects M&A deals to increase in the technology services sector for the remainder of 2024 and continuing into 2025. Financial buyers, particularly private equity firms, have kept M&A volume afloat in the systems integration sector, accounting for 57.1% of all transactions through YTD.

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Mergers Mergers and Acquisitions M&A Consulting 52

Software Equity Group

SEPTEMBER 17, 2024

Active business : The C Corp must use 80% or more of its assets to conduct a qualified trade or business. This flexibility is attractive to certain investors and can be beneficial when you wish to secure equity financing or sell your software business. Fortunately, software companies should qualify.

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The TRADE

OCTOBER 7, 2024

Nasdaq is set to launch volume-based trajectory trading solution PureStream in Europe in Q1 2025, pending regulatory approval. PureStream on Nasdaq Europe will provide greater choice of trade execution mechanisms to our clients and help institutional investors navigate the European trading landscape.”

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The TRADE

JUNE 21, 2024

The current timeline for the UK appears to include a plan being put in place in 2025 with the implementation of a T+1 settlement cycle in UK occurring no later than 31 December 2027. When we proposed the rule in February 2022, only about two-thirds (68%) of transactions were being affirmed on trade day.

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InvestmentBank.com

MAY 6, 2021

through 2025 (3PL), following a steep decline in 2020. The slowing of growth in the Chinese economy, the Biden administration’s trade policy, and growing global pressure from customers and regulators to act on emissions will also affect the expansion and performance of the industry in coming years.

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The TRADE

DECEMBER 17, 2024

The Swiss Exchange Group acquisition of Aquis will be an obvious one to watch, while in contrast, there are a slew of new liquidity opportunities expected to go live in 2025. Next year could see the re-emerging debate around shorter trading hours ratchet up, which contrasts to the 24-hour trading agenda in the US.

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The TRADE

DECEMBER 20, 2024

Vikesh Patel, global head of clearing, president, Cboe Clear Europe There will be greater focus in 2025 on European competitiveness, with regulators needing to strike the right balance between fostering growth, competition and innovation in clearing on one hand and maintaining regulatory oversight and financial stability on the other.

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The TRADE

DECEMBER 9, 2024

Northern Trusts Integrated Trading Solutions (ITS) outsourced trading desk has confirmed that it is set to be supporting Stockholm-based fund company Avanza Fonder. As part of the development, Northern Trust will provide outsourced trading primarily for Avanza Fonders global, emerging market, European and US equity market index funds.

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The TRADE

DECEMBER 12, 2024

Hong Kong Exchanges and Clearing (HKEX) is launching a multi-year enhancement programme to upgrade its post-trade services for the cash equities market, with the aim of being technically ready to support a T+1 settlement cycle by the end of 2025.

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Focus Investment Banking

DECEMBER 20, 2024

Private equity-backed ophthalmology groups have seen significant growth over the last eight years, with more than 30 platforms establishing themselves in the market; most completing numerous add-on (individual practice) acquisitions. Other groups have sold within the private equity space.

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The TRADE

DECEMBER 9, 2024

Germain Carton was appointed head of trading at Alana Capital, following almost six years at Greenwich Dealing. He most recently head of trading at the firm, having joined as a cross-asset trader in 2018. Jesper Bremholm joined Katamaran Capital as an execution trader following a year and a half as equity trader at Kuvari Partners.

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