DeGiro is hard to ignore. Every other day in the news in their conquest of new markets and connecting to exchanges. Latest news is they aim for a takeover of a part of Banco de Madrid. The Spanish bank is in trouble after a bank run and the brokerage part, Interdin, is owned by theRead more
TOM has announced to shut down it’s stock trading venue. In a short statement, strange enough only available in Dutch, it claims the market share of retail stock orders is only between 10% and 20% of all shares traded. And with a market share of 1% in this segment, it’s a loss making operation. SoRead more
Somehow Binck reminds me of Van der Moolen in their last months. A listed company and a board which seems to have lost touch with reality. That’s nice when writing a kind of financial blog. Expected a quiet December, but voila : Binck. Time to get the popcorn. SOR functioning poorly Contender DeGiro showed credibleRead more
Online broker DeGiro surprised everybody today. On national television they came with the news TOM’s smart order router (SOR) doesn’t work very well. In fact, the guaranteed “best execution” proved to be fake. To make things worse, apparently a HFT firm has seen enough time to benefit from the trades. Research paper The Dutch pdf canRead more
Big news from the clearing business. InterContinental Exchanges, ICE, has bought the majority of Holland Clearing House from ABN AMRO. The clearing house HCH has been created by ABN AMRO to clear the trades on TOM. ABN AMRO remains a minority shareholder. End of June Euronext was spun off from ICE by an IPO. Apparently, theRead more
