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BlackRock and Citadel Securities back new Texas-based challenger exchange

The TRADE

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 new exchange is now setting out plans to file for registration with the US Securities and Exchanges Commission (SEC). The TRADE understands that BlackRock has taken a minority investment.

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Siemens Energy’s struggling wind unit plans $436 million in cost cuts

Global Banking & Finance

The goal […]

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European Council and Parliament reach milestone Mifid compromise on consolidated tape and PFOF

The TRADE

A consolidated tape will be of considerable benefit to the capital markets industry, promoting transparency and ultimately helping to boost growth in European equities. Thursday’s compromise includes the possibility for a member state where PFOF is currently allowed to offer firms in its jurisdiction an exemption.

Trading 75
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US same day settlement ‘not a good idea’ despite technological advancement

The TRADE

The firm’s most recent report refers to previous research in its ‘data automation: the workflow efficiency game-changer’ studywhich found that less than one third of those surveyed believed that capital markets professionals are prepared for the T+1 go-live date.

Trading 72
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The Thursday T+1 trading conundrum

The TRADE

A few bps matter,” said Jim Goldie, EMEA head of capital markets, ETFs and indexed strategies, Invesco. This was corroborated by Goldie: “If the UK followed strict timelines it could be there by 2026. UK market structure isn’t that complicated. We’re in a suboptimal place with global misalignment. “The

Trading 59
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How Gen AI can boost relationship managers’ productivity

Accenture Capital Markets

The post How Gen AI can boost relationship managers’ productivity appeared first on Accenture Capital Markets Blog. last year to around US$2.2m Delaying means falling behind—and brings the risk of putting their growth goals even further out of reach.

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European Parliament’s approval of Mifid/Mifir revisions a starting gun for change

The TRADE

For a member state where PFOF is currently allowed, they will continue to be able to offer this until 30 June 2026, after which it will be phased out. In addition, ESMA is set to assess the effectiveness of a CT for shares by 30 June 2026, which includes consideration of the potential to add additional features to the equity pre-trade tape.