Fascinating meeting today on liquidity and where it’s all going, as I chaired a panel session with Chi-x, Equiduct, Turquoise, NYSE Euronext and Deutsche Bourse. I was amused to find that the LSE was not there, after my comments of the other week and, instead of LSE, Baikal jumped on stage.
Yes, that’s Baikal, the LSE’s dark pool that will launch in Q3 2009
after being pushed back a quarter due to Lehman Brothers, the partner on the
project, collapse.
Anyways, we started with some quiet questions about how things are looking a year after MiFID and what people are seeing.
The first part was a vote from the audience, with the buy-side saying that things are far more fragmented and confusing than they ever were, and none of them trading the bulk of their business through the new exchanges.
So liquidity hasn’t moved, has it?
Read more ...
Anyways, we started with some quiet questions about how things are looking a year after MiFID and what people are seeing.
The first part was a vote from the audience, with the buy-side saying that things are far more fragmented and confusing than they ever were, and none of them trading the bulk of their business through the new exchanges.
So liquidity hasn’t moved, has it?
Read more ...
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