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Optiver, XTX Markets among consortium to back launch of Brazilian derivatives exchange A5X

The TRADE

Optiver, IMC Trading, Jump Trading Group, XTX Markets and ABN AMRO Clearing Bank have invested in A5X, a new Brazilian derivatives exchange which is set to begin operations by 2026. The announcement of Series B composed of investors of such reputation and expertise makes us even more solid to achieve this goal.

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BlackRock and Citadel Securities back new Texas-based challenger exchange

The TRADE

Designed to rival the likes of incumbent exchanges Nasdaq and NYSE in the US, Texas Stock Exchange (TXSE) has raised $120 million from around a dozen investors including BlackRock and Citadel Securities in a funding round closed in May. The TRADE understands that BlackRock has taken a minority investment.

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SSGA launches first actively managed corporate and municipal target maturity ETFs in the US

The TRADE

Named SPDR SSGA MyIncome ETFs, the suite looks to offer investors the ability to build their own custom bond ladder portfolios to manage their respective cash flow, interest rate risk, and liquidity needs. The suite consists of 14 actively managed target maturity ETFs with various maturity years ranging from 2026 to 2034.

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Retail boost is driving volumes off-exchange, Liquidnet finds

The TRADE

Last week, JP Morgan cited the biggest retail flows on record, with non-professional investors buying $1.5 Last week, the European Council and Parliament introduced a “general ban” on PFOF, with temporary exemptions for member states where firms currently use the practice until June 2026. billion worth of purchasing.

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Tick sizes, transparency and fee caps: A look at the SEC’s rule amendments

The TRADE

According to the watchdog, the changes have been designed with a mind to reduce transaction costs and improve market quality for all investors and to help ensure that orders placed in the national market system reflect the best prices available for all investors. “A The reforms are pro-investors. They are pro-capital formation.”

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Recent EU consolidated tape compromise is a ‘missed opportunity’, says AFME

The TRADE

Alongside the tape compromise, regulators also introduced a general pan on payment for order flow (PFOF), with the possibility for a member state where PFOF is currently allowed to offer firms in its jurisdiction an exemption – which will eventually be phased out by 30 June 2026. A decision that has been largely welcomed by participants.

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Kian Capital Builds Sunbelt HVAC Distributor

The Deal

“We don’t really expect that to start bearing fruit from the phase-downs until the middle of 2024, but it should lead to a significant uptick in unit volumes in the back half of 2024 and through 2025 to 2026,” Lee said. in April and Novacap Investments Inc. in March.

Capital 52