Financial data and markets infrastructure: Positioning for the future - McKinsey & Company
How could the macroeconomic realities in 2026 impact the banking and capital markets industry’s revenues and profitability?
Trading
Wall Street Enters Darker Age With Most Stock Trading Now Hidden - Bloomberg.com
HERE’S a surprising new fact about the world’s largest and most-liquid public equity market: Most of the activity on it is not public anymore.
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.
Understanding Dark Pools for OANDA:BTCUSD by Zeiierman - TradingView
█ Diving Into Dark Pools In recent years, dark pools have become a significant part of the financial markets, offering an alternative trading venue for institutional traders. But what exactly are dark pools, and how do …
The Global Gold Market | Gold Exchanges - World Gold Council
For the better part of a century, gold price discovery has been London’s domain. A handful of banks. Mostly paper contracts. A time zone already deep into its afternoon when Asia’s trading day begins.
BlackRock and Citadel Securities back new Texas-based challenger exchange - The TRADE
The U.S. Securities and Exchange Commission (SEC) delivered a landmark decision on September 30, 2025, formally approving the Texas Stock Exchange (TXSE). This pivotal move greenlights the creation of a new national sec…
Sri Lanka to cut settlement cycle from T+3 to T+2 in June - The TRADE
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.
Markets without makers: what happens when liquidity providers disappear? - Global Trading
Finance, at its heart, is the movement of capital. It is the art of channeling idle assets to where they can generate the most value. From this perspective, the history of financial markets is, in essence, a history of …
We can help you capture your fixed income universe with greater precision - LSEG
Nowhere are the markets changing so rapidly as in fixed income, the asset class that sits at the foundation of the financial system. And nowhere do asset owners and investors need more help to come out ahead.
EU changes to the MIFID regime are here - Ashurst
Legislative amendments to MIFIR (Updated MiFIR) and MIFID (Updated MiFID) have been published in the Official Journal. The texts were introduced by the European Commission in November 2021 (see our briefing here). The m…
MiFIR and MiFID II review: ten key things that EU financial institutions should know | Belgium | Global law firm - Norton Rose Fulbright
The First-tier Tribunal’s (FTT) decision in HMRC v Professional Game Match Officials Ltd [2026] UKFTT 654 (TC) (PGMOL) sits within a long line of employment status cases.
JPMorgan Fined $348 Million for Lapses in Trade Monitoring (Published 2024) - The New York Times
JPMorgan JPM is expected to pay $100 million to the U.S. Commodity Futures Trading Commission (“CFTC”) to settle claims related to trade reporting lapses. The news was reported by Reuters, citing a source with direct kn…
Aquis set to begin charging members for non-displayed data after 10 years of no fees - The TRADE
Aquis Exchange is set to begin charging its trading members for non-displayed market data feeds for the first time since its inception almost 11 years ago.
What is a consolidated tape? - ETF Stream
Reforms to the UK’s capital markets over the past five years have achieved an incredible amount, from simplifying the rules for stock market listings to reducing costs for firms trading bonds and derivatives.
Real-Time Market Data in the Public Cloud: Adapting to New Business Models amid Legacy Challenges - FactSet Insight
Eugene Kim, Director of Client Solutions, and Anant Singh, Principal Software Architect, are co-authors of this article.
ETF algo trading offers solution to tackle lack of on-exchange liquidity - ETF Stream
Emerging Technology: Prediction markets are evolving into “world truth engines” that use financial incentives to reveal collective knowledge about future events, turning specialized insights into monetizable foresight.
TNS Buys BornTec’s Co-Location Services & Other News - FTF News
In other news, the FCA takes on greenwashing via innovation, STT helps clients with FINRA compliance, and the CFTC & BoE focus on CCP concerns.
IEX Exchange Updates Crumbling Quote Indicator - Traders Magazine
IEX Exchange has announced a new version of The Signal, also knows as the Crumbling Quote Indicator, a predictive model that targets adverse price changes and powers IEX Exchange’s signature protective order types.
What’s next for FXSpotstream? - FX Markets
When FXSpotstream (FSS) launched over 11 years ago as a bank-backed spot foreign exchange price aggregation service, it set its sights on disrupting the public trading venues.
Scaling Kraken’s trading infrastructure for the next decade of growth - Kraken Blog
Shannon Kurtas, Product Director, Pro & Institutional Trading Max Kaplan, Sr. Engineering Director, Core Infrastructure & Data Engineering Suketu Gandhi, Sr. Engineering Director, Trading Technology Steve Hunt, VP Engin…
Cboe Europe now the leading exchange for European equities liquidity and price formation - The TRADE
Cboe Europe has made big gains in its market share over the last two years – enjoying particular success in its lit orderbooks, which have grown from 15% of all lit trading in January 2021 to 28.1% in March 2023. But mo…
FX: CLOB activity up, but pricing vs cost debate continues - Euromoney
FX trading venues using central limit order book (CLOB) systems to match buyers and sellers saw double-digit percentage increases in activity in 2022.
HM Treasury’s future financial services regulatory regime for cryptoassets consultation: what you need to know - Elliptic
The consultation and call for evidence have long been called for from the crypto industry. It looks to start clarifying the government’s approach of making the country a fintech hub and adding value to being a UK-regist…
Cboe Europe Equities Yearly Recap and Look Ahead - Cboe Global Markets
Natan Tiefenbrun, President, Cboe Europe, summarises Cboe Europe’s activities over 2022 and looks ahead to its plans for 2023.