The French bank has been landed with a HK$15 million bill after Hong Kong's securities regulator uncovered serious failures in its dark pool operations.
Some investors are asking for more information from their managers about dark pools following recent US investigations into these alternative trading venues.
Following the failure of two recent ventures by Australia Securities Exchange, an executive from the bourse warns that the success of new platforms depends on drawing liquidity together.
The firm will be better able to source block liquidity in Asia as a result, says regional head equity trader Lee Bray. Meanwhile he is relaxed about potential curbs on dark pool usage.
Other Asian regulators would do well to follow recent proposals made by the Australian securities watchdog, argue some market participants.
The head of Hong Kong’s securities regulator says it is processing dark pool applications again after a hiatus amid concerns about retail investor protection.
Michael Mollemans joins Credit Suisse as head of Japan electronic trading from Daiwa in New York.
The bank adds to the growing tally of internalised crossing networks in Asia, after building its execution expertise in the region over the past year.
US agency brokerage ITG, which aggregates dark pools, has signed up 100 clients for its Posit venue in Hong Kong since March, and Australia is its next destination.
Fragmentation and competition is coming to Asia whether the market likes it or not, says Citi's Ben Valentine.
In its first week of operation, over $1 billion passes through CLSAÆs dark pool in Hong Kong.