Euronext study reveals continuous cost of trading is three times higher than at the close
In-depth Euronext study looking at market impact at the close shows costs of continuous trading far exceed trading in closing auctions.
Tag: Closing auctions
Turquoise Plato ‘Trade At Last’ closing auction mechanism goes live
LSEG said that the tool launched with 12 Turquoise members entering new orders in 76 different symbols of 11 different country markets on its first day.
Euronext technical glitch sees major cash and derivatives market close failure
After a technical issue halted trading for several hours at Euronext on Monday morning, the market close was then impacted and closing auctions failed to take place.
Buy-Side
Trading desk of the year
Following a major win at The TRADE’s Leaders in Trading awards ceremony, Hayley McDowell sits down with Jeremy Ellis, head of European equity trading at T. Rowe Price, and the trading desk to discuss the biggest market structure changes impacting execution.
Cboe plans March launch for US market close mechanism
Cboe Market Close (CMC) will go live in March this year after the exchange gained approval to launch the mechanism last month.
US brings competition to the close with Cboe mechanism approval
Cboe has gained approval from the SEC to operate an alternative closing auction mechanism, which threatens the monopoly primary exchanges retain on end-of-day trading.
Equities
Heading for the close
As volumes seemingly continue to migrate towards the end of the trading day, Hayley McDowell investigates the rise of closing auctions in Europe and its impact on continuous trading for asset managers.
Little evidence of closing auctions deteriorating price formation, says AMF
Activity in closing auctions has surged across Europe, but a study from France’s AMF says the concentration of volumes at the end of the day has not affected price formation.
Bats develops market close process to challenge costly closing auctions
New market close process developed in response to rising costs of using closing auctions.