Australia’s securities regulator has fined the agency broker for failing to reject or report stock manipulation by a high-frequency trader that had the potential to damage market efficiency.
As the buy-side shifts to electronic trading for low-touch orders, banks' program trading desks are redefining themselves to assume more of a hand-holding role.
The buy-side praises Nomura's move to shift most equities execution work to its well-regarded affiliate, Instinet – but job losses are imminent.
Glenn Lesko, Instinet’s Asia CEO, expects to see more dark pools set up in Asia – by large regional banks, among others – and hence more tie-ups such as this one.
Asian traders are awaiting the introduction of Australia’s first alternative trading venue in the fourth quarter of this year. Industry support for it is strong, so what should we expect?
Instinet outlines its global expectations for 2011 and suggests that the lack of a pan-regional overhaul in Asia makes structural change unlikely.