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Electronic Trading

Electronic Trading

5.81k followers10 symbols Watchlist by Motif Investing

Technological advancements and the demand for low-cost, fast trade executions could drive growth for electronic trading companies.

Curated by Motif Investing

Background

Investing has increasingly moved from the exchange floor to complex algorithms and electronic trading platforms. Today, the vast majority of US equity trading volume happens online. And the pace of change continues to jump. Electronic trading represents more than half of the $5.3 trillion-a-day foreign-exchange market, according to a Euromoney Institutional Investor Plc survey, as increasing competition, diminishing trade volumes and the need for low-cost execution has driven many financial firms to embrace electronic trading and reap the benefits of lower bid-ask spreads and efficient order management systems.

How did we choose these stocks?

We identified US-listed stocks and American Depository Receipts of companies that are engaged in activities relevant to this watchlist's theme. We then filtered out companies that have a share price of less than $1.00 or a market capitalization less than $100 million, and excluded illiquid stocks by screening companies for liquidity i.e. average bid-ask spreads, dollar volume traded etc. Finally the proprietary Motif Optimization Engine determined the constituent stocks. Learn more about how we select our watchlists.

Who made these selections?

Motif is an online brokerage built on thematic portfolios of up to 30 stocks and ETFs. Founded in 2010 by Hardeep Walia, Motif combines complex proprietary algorithms with skilled advisers to develop these thematic portfolios. Learn more about our team.

How are these weighted?

First, we determined each company's percentage of total revenue derived from this watchlist's theme. Second, we applied a pure-play factor to give greater relative weight to companies that derive a higher percentage of their revenue from this theme. Finally, we weighted each company by its market capitalization adjusted for revenue exposure to the theme.

More details on how we build and weight watchlists are available here.

Performance

WatchlistChange today1-month return1-year returnTotal return
Electronic Trading+0.16%+40.49%+3.46%+48.95%
^GSPC+1.05%-3.37%+10.82%+3465.13%

10 symbols

SymbolCompany nameLast priceChange% changeMarket timeVolumeAvg vol (3-month)Market cap
CMECME Group Inc.166.59-1.10-0.66%4:00 pm GMT-41.16M1.72M59.74B
ICEIntercontinental Exchange, Inc.98.8-0.47-0.47%4:00 pm GMT-42.15M3.05M55.45B
TRIThomson Reuters Corporation78.16+1.15+1.49%4:00 pm GMT-4285.19k491.88k38.82B
IBKRInteractive Brokers Group, Inc.48.76+0.86+1.80%4:00 pm GMT-4929.57k651.44k20.32B
NDAQNasdaq, Inc.123.32+1.27+1.04%4:00 pm GMT-4822.22k700.14k20.26B
MKTXMarketAxess Holdings Inc.446.95+3.95+0.89%4:00 pm GMT-4248.48k208.80k16.97B
CBOECboe Global Markets, Inc.89.91-0.09-0.10%4:00 pm GMT-4898.07k821.28k9.78B
VIRTVirtu Financial, Inc.26.28-0.34-1.28%4:00 pm GMT-4989.84k1.54M5.08B
BGCPBGC Partners, Inc.2.33-0.03-1.06%4:00 pm GMT-43.46M3.72M837.95M
COWNCowen Inc.15.75-0.04-0.25%4:00 pm GMT-4832.83k352.25k453.80M
  • GlobeNewswire

    MarketAxess to Acquire Regulatory Reporting Hub from Deutsche Börse Group

    NEW YORK and FRANKFURT, Germany, Sept. 23, 2020 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, has entered into an agreement to acquire the Regulatory Reporting Hub, the regulatory reporting business of Deutsche Börse Group. MarketAxess will acquire the business through Trax NL B.V., its wholly owned subsidiary in the Netherlands. The Regulatory Reporting Hub is a pan-European reporting and compliance platform that enables buy- and sell-side clients to meet their regulatory obligations and transparency requirements across multiple regulations, such as MiFID II and EMIR. Services include transaction and trade reporting, best execution reporting and SI services, as well as APA and ARM services.MarketAxess is already a leading provider of post-trade reporting and pre- and post-trade data services. The acquisition of the Regulatory Reporting Hub will help to further expand and enhance these services across a broader European client base, particularly in Germany, France and the Nordics.Christophe Roupie, Head of EMEA and APAC at MarketAxess, commented: “With over 30 years of experience in providing regulatory reporting and data services to the world’s leading financial institutions, we know just how important they are for our clients. With this acquisition, we’re strengthening both our global post-trade and data businesses in two important ways: significantly extending our European client footprint, and increasing our ability to bring new, innovative technologies and solutions to a critical and complex part of the trade lifecycle.”The transaction is expected to close in the fourth quarter of 2020, subject to the satisfaction of customary closing conditions. Both MarketAxess and Deutsche Börse commit to a smooth service transition for all customers. The Regulatory Reporting Hub is being sold through Regulatory Services GmbH, a subsidiary of Deutsche Börse Group. The sale of the Regulatory Services GmbH does not affect any other services provided by Deutsche Börse Group.About MarketAxess MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,700 firms, including the world’s leading asset managers and institutional broker-dealers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. MarketAxess’ award-winning Open Trading™ marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services. MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.About Deutsche Börse As an international exchange organisation and innovative market infrastructure provider, Deutsche Börse Group ensures markets characterised by integrity, transparency and stability. With its wide range of products, services and technologies, the Group organises safe and efficient markets for sustainable economies. Its business areas extend along the entire value chain in exchange trading, including the admission, trading and clearing, and custody of securities and other financial instruments, the dissemination of market data, as well as the management of collateral and liquidity. As a technology company, the Group develops state-of-the-art IT solutions and offers IT systems all over the world.With over 6,500 employees, the Group has its headquarters in the financial centre of Frankfurt/Rhine-Main, as well as a strong global presence in 38 locations such as Luxembourg, Prague, London, New York, Chicago, Hong Kong, Singapore, Beijing, Tokyo and Sydney.Cautionary Note Regarding Forward-Looking Statements This press release may contain forward-looking statements, including statements about the outlook and prospects for Company and industry growth, as well as statements about the Company’s future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess’ current expectations. The Company’s actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, including: global economic, political and market factors; the volatility of financial services markets generally; the level of trading volume transacted on the MarketAxess platform; the absolute level and direction of interest rates and the corresponding volatility in the corporate fixed-income market; the level and intensity of competition in the fixed-income electronic trading industry and the pricing pressures that may result; the variability of our growth rate; the rapidly evolving nature of the electronic financial services industry; our ability to introduce new fee plans and our clients’ response; our exposure to risks resulting from non-performance by counterparties to transactions executed between our clients in which we act as an intermediary in matched principal trades; our dependence on our broker-dealer clients; the loss of any of our significant institutional investor clients; our ability to develop new products and offerings and the market’s acceptance of those products; the effect of rapid market or technological changes on us and the users of our technology; our ability to successfully maintain the integrity of our trading platform and our response to system failures, capacity constraints and business interruptions; our vulnerability to cyber security risks; our ability to protect our intellectual property rights or technology and defend against intellectual property infringement or other claims; our ability to enter into strategic alliances and to acquire other businesses and successfully integrate them with our business; our ability to comply with new and existing laws, rules and regulations both domestically and internationally; our ability to maintain effective compliance and risk management methods; the strain of growth initiatives on management and other resources; our future capital needs and our ability to obtain capital when needed; limitations on our operating flexibility contained in our credit agreement; and other factors. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these and other factors affecting MarketAxess’ business and prospects is contained in MarketAxess’ periodic filings with the Securities and Exchange Commission and can be accessed at www.marketaxess.com.MarketAxess Media Relations Contacts: New York:London: Kyle WhiteToby West +1 212 813 6355+44 (0)20 7709 3270 kwhite@marketaxess.comtwest@marketaxess.com Deutsche Börse Group Media Relations Contact: Alexandra Reed +49 69 211 17764 alexandra.reed@deutsche-boerse.comMarketAxess Investor Relations Contact: David Cresci +1 212 813 6027 dcresci@marketaxess.com

  • GlobeNewswire

    Virtu Announces Preliminary Results for Third Quarter to Date through August 2020 and Third Quarter Conference Call Date

    NEW YORK, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the global markets today announced preliminary estimates of its top line results for third quarter to date through August 31, 2020. Quarter-to-Date Estimated Results * On a preliminary estimated basis, Virtu expects its results of operations for the two months ended August 31, 2020 to reflect: ° Trading Income, net between $295 and $303 million; Adjusted Net Trading Income* between $238 and $246 million ° Average Daily Adjusted Net Trading Income* between $5.53 and $5.72 million per day * July 2020 estimated results are revised to $6.50 million Average Daily Adjusted Net Trading Income (from the previously estimated range of $6.70 to $7.00 million per day) ° Trading Income of $173 million; Adjusted Net Trading Income* of $143 million * August 2020 results of operations are preliminarily estimated to reflect: ° Trading Income, net between $122 and $130 million; Adjusted Net Trading Income* between $95 and $103 million ° Average Daily Adjusted Net Trading Income* between $4.52 and $4.90 million per day reflecting overall declines in volumes and volatility benchmarks in the U.S. and EuropeThird Quarter Conference CallVirtu will announce its results for the third quarter 2020 on Friday, November 6, 2020 before the U.S. market opens.The company will host a conference call to discuss the company's financial results that day at 8:30 a.m. Eastern Time (ET). A live webcast of the event will be available and archived on the Investor Relations section of the company's website at http://ir.virtu.com/events.cfm.* Non-GAAP financial measures. Please see “Non-GAAP Financial Measures and Other Items” for more information.The preliminary financial and other data set forth above has been prepared by, and is the responsibility of our management. The foregoing information and estimates have not been compiled or examined by our independent registered public accounting firm nor have our independent registered public accounting firm performed any procedures with respect to this information or expressed any opinion or any form of assurance of such information. In addition, the foregoing information and estimates are subject to revision as we prepare our consolidated financial statements and other disclosures as of and for the three months ended September 30, 2020, including all disclosures required by U.S. GAAP. Because we have not completed our normal quarterly closing and review procedures for the two months ended August 31, 2020, and subsequent events may occur that require material adjustments to these results, the final results and other disclosures for this period may differ materially from these estimates. These estimates should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP or as a measure of performance. In addition, these estimated results of operations for the two months ended August 31, 2020 are not necessarily indicative of the results to be achieved for any future period. See "Cautionary Note Regarding Forward-looking Statements." These estimated results of operations should be read together with subsequent filings and announcements, including any subsequent press release announcing the Company’s earnings for the quarter ended September 30, 2020 and our unaudited consolidated financial statements and related notes to be filed on Form 10-Q on or before November 9, 2020.Non-GAAP Financial Measures and Other ItemsTo supplement our unaudited condensed consolidated financial statements presented in accordance with generally accepted accounting principles ("GAAP"), we use the following non-GAAP measures of financial performance: * "Adjusted Net Trading Income", which is the amount of revenue we generate from our market making activities, or trading income, net, plus commissions, net and technology services, plus interest and dividends income and expense, net, less direct costs associated with those revenues, including brokerage, exchange and clearance fees, net and payments for order flow. Management believes that this measurement is useful for comparing general operating performance from period to period. Although we use Adjusted Net Trading Income as a financial measure to assess the performance of our business, the use of Adjusted Net Trading Income is limited because it does not include certain material costs that are necessary to operate our business. Our presentation of Adjusted Net Trading Income should not be construed as an indication that our future results will be unaffected by revenues or expenses that are not directly associated with our market making activities. Adjusted Net Trading Income is a non-GAAP financial measure used by management in evaluating operating performance and in making strategic decisions. Management believes that the presentation of Adjusted Net Trading Income provides useful information to investors regarding our results of operations because they assist both investors and management in analyzing and benchmarking the performance and value of our business. Adjusted Net Trading Income provides indicators of general economic performance that are not affected by fluctuations in certain costs or other items. Accordingly, management believes that this measurement is useful for comparing general operating performance from period to period. Other companies may define Adjusted Net Trading Income differently, and as a result our measures of Adjusted Net Trading Income may not be directly comparable to those of other companies. Although we use this non-GAAP financial measure as a financial measure to assess the performance of our business, such use is limited because it does not include certain material costs necessary to operate our business.Adjusted Net Trading Income should be considered in addition to, and not as a substitute for, Net Income in accordance with U.S. GAAP as a measure of performance. Our presentation of Adjusted Net Trading Income should not be construed as an indication that our future results will be unaffected by unusual or nonrecurring items. Adjusted Net Trading Income has limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under U.S. GAAP. Some of these limitations are: * they do not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments; * they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows; * they do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations; and * they do not reflect limitations on our costs related to transferring earnings from our subsidiaries to us.Because of these limitations, Adjusted Net Trading Income is not intended as an alternative to Net Income as an indicator of our operating performance and should not be considered as a measure of discretionary cash available to us to invest in the growth of our business or as a measure of cash that will be available to us to meet our obligations. We compensate for these limitations by using Adjusted Net Trading Income along with other comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. These U.S. GAAP measurements include Net Income, cash flows from operations and cash flow data. See below a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure.Virtu Financial, Inc. and Subsidiaries Reconciliation to Non-GAAP Operating Data (Unaudited)The following tables reconcile estimated Trading Income, net and Adjusted Net Trading Income for the two months ended August 31, 2020.(in thousands, except percentages)  Jul 2020    Estimate Reconciliation of Trading income, net to Adjusted Net Trading Income     Trading income, net $173   Commissions, net and technology services  47   Interest and dividends income  1   Brokerage, exchange, clearance fees and payments for order flow, net  (73)  Interest and dividends expense  (5)  Adjusted Net Trading Income $143   (in thousands, except percentages)  Aug 2020    Range Reconciliation of Trading income, net to Adjusted Net Trading Income      Trading income, net $122 -130  Commissions, net and technology services  35 -42  Interest and dividends income  1 -1  Brokerage, exchange, clearance fees and payments for order flow, net  (58)-(63) Interest and dividends expense  (5)-(7) Adjusted Net Trading Income $95 -103      (in thousands, except percentages)  Jul - Aug 2020    Range Reconciliation of Trading income, net to Adjusted Net Trading Income      Trading income, net $295 -303  Commissions, net and technology services  82 -89  Interest and dividends income  2 -2  Brokerage, exchange, clearance fees and payments for order flow, net  (131)-(136) Interest and dividends expense  (10)-(12) Adjusted Net Trading Income $238 -246  About Virtu Financial, Inc.Virtu is a leading financial services firm that leverages cutting-edge technology to provide execution services and data, analytics and connectivity products to its clients and deliver liquidity to the global markets. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology.  Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and myriad other commodities.  In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.Cautionary Note Regarding Forward-Looking Statements This press release may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s” or “our”) business that are not historical facts are forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, and if the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. Forward-looking statements are based on information available at the time and/or management’s good faith belief with respect to future events, and is subject to risks and uncertainties, some or all of which are not predictable or within Virtu’s control, that could cause actual performance or results to differ materially from those expressed in the statements. Those risks and uncertainties include, without limitation: fluctuations in trading volume and volatilities in the markets in which we operate; the ability of our trading counterparties and various clearing houses to perform their obligations to us; the performance and reliability of our customized trading platform; the risk of material trading losses from our market making activities; swings in valuations in securities or other instruments in which we hold positions; increasing competition and consolidation in our industry; the effect of the acquisition of Investment Technology Group, Inc. (“ITG”) on existing business relationships, operating results, and ongoing business operations generally; the significant costs and significant indebtedness that we have incurred and expect to incur in connection with the acquisition of ITG; the risk that we may encounter significant difficulties or delays in integrating the two businesses and the anticipated benefits, cost savings and synergies or capital release may not be achieved; the assumption of potential liabilities relating to ITG's business; the risk that cash flow from our operations and other available sources of liquidity will not be sufficient to fund our various ongoing obligations, including operating expenses, capital expenditures, debt service and dividend payments; regulatory and legal uncertainties and potential changes associated with our industry, particularly in light of increased attention from media, regulators and lawmakers to market structure and related issues; potential adverse results from legal or regulatory proceedings; our ability to remain technologically competitive and to ensure that the technology we utilize is not vulnerable to security risks, hacking and cyber-attacks; and risks associated with third party software and technology infrastructure. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in forward-looking statements, see Virtu’s Securities and Exchange Commission (“SEC”) filings, including but not limited to Virtu’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.Contact:     Investor Relations Media Relations Deborah Belevan, IRC, CPA Andrew Smith investor_relations@virtu.com  media@virtu.com

  • GlobeNewswire

    MarketAxess Appoints Riad Chowdhury as the New Head of Asia Pacific

    LONDON and SINGAPORE, Sept. 22, 2020 (GLOBE NEWSWIRE) -- MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced the appointment of Riad Chowdhury as Head of Asia Pacific, effective September 23, 2020.   Based in Singapore, Mr. Chowdhury will lead the growth strategy for MarketAxess’ expanding Asia Pacific business. He will report to Christophe Roupie, Head of EMEA and APAC. Mr. Chowdhury will be responsible for all business operations for MarketAxess in the region, including the active expansion of the firm’s relationships with regional and global institutional investors and dealers.Christophe Roupie, Head of EMEA and APAC at MarketAxess, said: “Riad brings a wealth of international and Asian investor client and dealer experience to MarketAxess, at an exciting time for us and our clients. Global shifts in market structure and end-client needs are driving adoption of electronic trading across the region, and all-to-all trading and new protocol innovations are helping to drive greater liquidity and cost-efficiency for both investors and dealers. We’re delighted to have Riad here to help develop the next chapter of our Asia Pacific growth story.”Mr. Chowdhury joins MarketAxess from Standard Chartered Bank, where he was most recently Managing Director – Head of Global Execution Services for Asia. He is an experienced leader in the development and adoption of e-trading technologies, having spearheaded successful global initiatives across both rates and FX. Prior to Standard Chartered, he held senior roles at ANZ Banking Group and Deutsche Bank, coordinating new business development and revenue growth with both Asian and international clients. Mr. Chowdhury also has extensive experience in designing and developing systems for trade execution and market data optimization, including the management of development and technology teams.About MarketAxess MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets. A global network of over 1,700 firms, including the world’s leading asset managers and institutional broker-dealers, leverages MarketAxess’ patented trading technology to efficiently trade bonds. MarketAxess’ award-winning Open Trading™ marketplace is regarded as the preferred all-to-all trading solution in the global credit markets, creating a unique liquidity pool for a broad range of credit market participants. Drawing on its deep data and analytical resources, MarketAxess provides automated trading solutions, market data products and a range of pre- and post-trade services.MarketAxess is headquartered in New York and has offices in London, Amsterdam, Boston, Chicago, Los Angeles, Miami, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.MarketAxess Media Relations Contacts: Toby West MarketAxess Holdings, Inc. +44 (0)20 7709 3270 twest@marketaxess.comDan Bradley Cognito +852 6145 7455 Dan.Bradley@cognitomedia.com