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6 February, 2026

24-Hour Market Trading Regulation Issues - And How Some Are Already Being Solved

As U.S. equity trading expands overnight, regulation built for daytime markets is lagging. With after-hours ATSs growing in importance, gaps in transparency and oversight are becoming more pronounced. Exegy and BMLL examine how regulation is adapting to a 24-hour market and why high-quality data is essential to future oversight.

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24 October, 2025

Goldman Sachs: How Well Are UK & EU Stock Markets Working?

Stock markets in the UK and the EU have transformed over the last decade as increased competition among trading venues and a shift in the composition of market participants have changed how and where trading happens.

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5 December, 2026

Study on consolidation and reducing fragmentation in trading and post-trading infrastructures in Europe

EU capital markets remain too fragmented and complex to support the SIU’s goals. Outdated, costly infrastructure and slow progress on legal harmonisation, especially in tax and securities law, continue to block integration. Interviews with about 100 stakeholders confirm that national legal...

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10 February, 2026

Eurex sees lit credit future liquidity migrate to dark

The strong attendance at the Bloomberg/Eurex credit futures conference reflected surging market interest, with average daily volume and open interest more than doubling over the past year. Liquidity has evolved differently across venues: lit trading has increased on CME and Cboe, while activity on Eurex has shifted predominantly toward block and RFQ trading.

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4 February, 2026

Europe’s €1 trillion hidden retail market

Europe’s retail market could become as big as the US – but first, the challenge is to find it, let alone describe how big it is. Global Trading digs into the evidence.

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2 February, 2026

Smaller round lots: tighter spreads, but thinner liquidity

Smaller round lot sizes led to tighter spreads for impacted securities, particularly those reduced from 100 to 10 shares. However, overall liquidity declined both at the top of book and deeper in the order book, making larger trades harder and more expensive to execute. Corporate equities experienced the strongest effects, with greater spread improvements but significantly sharper liquidity reductions compared with ETPs.

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20 January, 2026

Why U.S. Equities Are Moving Toward a Continuous Market

U.S. equities are moving toward continuous trading as overnight volumes and global participation grow, reducing the dominance of traditional market hours.

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15 January, 2026

Top 10 Charts from 2025

Last year saw intense market activity driven by major macro trends like tariffs, AI, and the rising dominance of U.S. tech, which attracted more global retail investors. This fueled growth in off-exchange and potential 24-hour trading, making an accurate NBBO increasingly critical, setting the stage for a review of key market charts from 2025.

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26 November, 2026

A-Team Insight - From Broker Bias to Independent Insight: The Case for Cloud-Native TCA

For years, the path of least resistance for buy-side transaction cost analysis (TCA) was simple: let the broker do it. To escape this fragmentation and gain an independent view, firms have traditionally faced a new dilemma, a binary choice between building a solution from scratch or buying a rigid third-party tool.

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26 November, 2025

HRT and SIG execution quality steady in busier September market

Hudson River Trading (HRT) and Susquehanna (SIG) kept improving their share weighted-execution-quality edge in September as US equity volumes and retail price improvement covered by Rule 605 disclosures rebounded to US$422.5 million. Citadel Securities remained dominant in size, trading more than 28.9 billion shares.

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18 November, 2025

ESMA transparency changes set to backfire, SIs say

ESMA’s move from the double to single volume cap was promoted as an easing in regulation. But systematic internalisers say the move will result in dark volume moving to periodic auctions, harder to tailor liquidity provision in bilateral relationships, and an equally opaque post-trade liquidity picture.

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28 October, 2025

When size matters in options markets

While traders often compare options markets by number of contracts traded, that metric can be misleading — because the economic value of contracts differs across markets. Instead, you should use notional traded and premium traded to get a clearer picture of market size.

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10 September, 2025

A-Team Insight - BMLL Frees Quants from Data Prep with New Trades Plus Offering

Data and analytics provider BMLL has launched Trades Plus, a new equities dataset designed to eliminate the complex and time-consuming process of combining trade and quote data, a significant and resource-intensive challenge for quantitative analysts and trading firms.

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10 September, 2025

SIX Swiss Exchange - Trading InfoSnack #15: Mirror, Mirror on the Wall

The new data driven research feature of SIX Swiss Exchange examines the patterns of price setting and price mirroring across venues in a fragmented liquidity environment, resulting in important insights into the price formation process and its influence on liquidity and market share dynamics.

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3 September, 2025

Liquidity Landscape: EMEA Mid-Point Update

Year-to-date, the Europe 600 and US 500 indices have delivered comparable performance. After trailing its European counterpart by nearly 10% at the end of Q1, the US index has regained significant ground as Trump’s trade deals have taken shape and the Magnificent 7 has continued to set new highs.

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