Knight Capital Europe Ltd has mandated BNP Paribas Securities Services to provide clearing, settlement, custody, stock lending and financing for its European equity business across Europe and North Africa.
Kevin Cronin, global head of equities trading at Invesco, which invests more than $500bn in shares, has questioned the usefulness of high-frequency trading, increasing pressure on a practice already under fire after recent mishaps.
German trade body Bundesverband Investment und Asset Management (BVI) has identified a need for better regulation of high frequency trading, as concerns grow among regulators over recent losses it has caused.
Bill Curtis, vice president and chief scientist at CAST Research Labs, and a Fellow of the IEEE, has commented on the Knight Capital debacle, noting that the financial industry faces a critical battle to ensure quality control of software.
Investors are starting to rethink their attitude to the middle and back office technology including the systems that support the trillions of financial deals done across the world daily.