Market Structure

Auctions and optimal outcome

Auctions are an important part of market structure and we are open to ongoing dialogue and innovation in this space. We do wish to highlight that whenever auctions are used as a matching model these should be truly price forming and competitive. Most importantly, to support fair and transparent trading, market participants should be provided with as much information as possible during auctions and we support the enabling of this as far as possible. We are pleased to see recognition of Paul R Milgrom and Robert B Wilson’s work on improvements in auction theory and the possibility of new auction formats

European Market Hours

Optiver strongly supports the Federation of European Exchanges’ view that the shortening of the European trading day would be detrimental to European markets and end investors. The recent reviews of financial market hours across European exchanges, have revolved around minimising hours as much as possible, while maintaining current trading volumes. It is Optiver’s view that …

European Market Hours Read More »

Consolidated Tape

Investors and the capital markets are best served through the delivery of a low-cost, real-time Consolidated Tape of all transactions executed within the Union. Optiver advocates for the intervention by legislators and regulators to form a public utility Consolidated Tape Provider (CTP) that can deliver a low-cost, real-time Consolidated Tape (CT) of post-trade data.

SHORT-SELLING BANS

In this paper, we look at the impact short-selling bans have on global financial markets and on end-investors. Short-selling bans come at a cost to the market and to investors. Instead, it is more important to focus on measures proven to support the healthy functioning of markets (such as liquidity protection and coordinated circuit breakers) while also addressing the underlying economic issues driving market volatility.