Search results for Smart Order Routing
Fintech
Morgan Stanley, Merrill Lynch join Nextrade as members
Morgan Stanley Securities and Merrill Lynch Securities have joined alternative trading venue Nextrade as members, Nextrade said. Nextrade approved membership for the firms\' Seoul branches on July 1. Morgan Stanley plans to complete its smart order routing system by November, while Merrill Lynch aims to finish system development this year and pursue participation across all markets after testing. Nextrade’s member brokerages have risen to 36.
Finance
Macquarie Securities becomes first foreign broker to join NEXTRADE
Macquarie Securities will join NEXTRADE as its first foreign securities firm member. NEXTRADE said on Tuesday it approved Macquarie Securities\' membership, bringing the total number of member brokers to 34. Macquarie Securities plans to participate first in NEXTRADE\'s pre-market and after-market in the third quarter, then complete preparations for smart order routing by the fourth quarter to join the main market.
Finance
KRX rebuts five key issues in trading hours extension dispute
The Korea Exchange (KRX) has moved to counter controversy over extending trading hours, saying the claims differ from the facts. The exchange outlined its position on five issues tied to the planned launch of a pre- and after-market on June 29. It said member firms will apply internal monitoring systems as in regular trading, and the exchange will conduct market surveillance at the same level as alternative venue NXT. It also pledged guidance on system changes and said phone orders via call centres will be allowed to limit exclusion of older investors.
