Zero volume at relaunched PBoT

23 Oct 2006

Philadelphia Stock Exchange (PHLX)'s re-launch of its Philadelphia Board of Trade (PBoT) on 6 October began in the worst possible way by failing to record a single traded contract within its first eight days of trading, but exchange officials said they were not worried.

The new futures exchange, which opened with a line of...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.