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Technological advancements and the demand for low-cost, fast trade executions could drive growth for electronic trading companies.
In an unprecedented legal confrontation, the three biggest U.S. stock-exchange groups are taking on their own regulator to block an initiative that seeks to limit the fees they can charge for trading. Nasdaq Inc. and Cboe Global Markets Inc. on Friday sued the Securities and Exchange Commission in a federal appeals court to stop the regulator from carrying out the program, a day after the New York Stock Exchange filed a similar challenge. At stake is the Transaction Fee Pilot, which the SEC unanimously approved in December.
The three largest U.S. stock exchange operators said they will sue the Securities and Exchange Commission for overstepping its authority by ordering a pilot program to test banning lucrative payments exchanges make to brokers for resting stock orders. "We disagree with the government overreach, and this really represents an unprecedented attempt by the SEC to distort the free market mechanisms that govern the competition among trading venues," Michael Blaugrund, head of transactions at NYSE, told reporters in New York on Friday. Intercontinental Exchange Inc's NYSE, Nasdaq Inc, and Cboe Global Markets, which together operate 13 of the 14 U.S. stock exchanges, each filed separate notices that they intend to sue the SEC.
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While Schwab's (SCHW) total client assets at the end of January 2019 decrease 1% from the year-ago month, it witnesses 6% sequential growth.
A proposal to blunt the advantages of ultrafast traders in one corner of the futures market is threatening to shake up the high-frequency trading world. Inc., known as ICE, quietly unveiled a plan earlier this month to impose a three-millisecond “speed bump”—or brief delay—on some trades in gold and silver futures. The proposal is on pause after the Commodity Futures Trading Commission said Wednesday it would prevent the ICE plan from taking effect until further review.
Theresa May’s troubles continue to pin back the Pound and the stats have provided little help. More swings on the cards later today.
Disappointing macro data and crude oil price undermined Loonie bulls while strength of US Dollar in broad market helped stage solid upside move.
CME Group (CME) Q4 reflects increased volatility and higher customer demand for diverse risk management products driving strong trading volumes.
CME (CME) delivered earnings and revenue surprises of 1.14% and 6.56%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
Decline in net new brokerage assets and Daily Average Revenue Trades might adversely impact E*TRADE's (ETFC) financials, going forward.
Investing.com - CME Group (NASDAQ:CME) reported fourth quarter earnings that beat analysts' expectations on Thursday and revenue that topped forecasts.
Brexit and Trade talks are on the political agenda, while Germany’s GDP numbers and retail sales figures out of the U.S will be in focus on the data front.
A loophole in Nasdaq Inc.’s rules is under scrutiny after a roller-coaster ride in the stock of one small company highlighted how firms can go public without ample shares to trade. Phunware Inc., a software company planning to launch its own cryptocurrency, surged about 3,750% over six trading days to hit an intraday high of $550 a share on Jan. 10. Nasdaq’s rules require companies listed on the exchange to have at least one million publicly held shares.
The Atlanta-based exchange plans a 3-millisecond trading delay, or speed bump, for its gold and silver futures contracts, according to a regulatory filing. Michael Lewis’s 2014 book, “Flash Boys,” popularized the idea of using speed bumps to curb the light-speed pace of modern financial markets and prevent alleged abuses of so-called high-frequency traders. Lewis’s protagonists, the founders of IEX Group Inc., introduced a delay on their stock exchange in 2016, and a tiny equities market ICE owns, NYSE American, also has one.
Oil prices continue to underpin Loonie while Dollar is subdued owing to risk appetite resulting in range bound action.
The Canadian dollar rose to its highest in one week against its broadly stronger U.S. counterpart on Wednesday, as oil prices climbed and investors bet that the United States and China would resolve their trade dispute. Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries.
Crude oil for March delivery on the New York Mercantile Exchange rose 2.17% to trade at $54.27 a barrel by 10:32 AM ET (15:32 GMT), compared with $54.23 ahead of the report.
Will inflation numbers deliver a boost for the Pound or the Dollar, or will they ease pressure on the respective central banks to make a move?