Trading heads call for reform of double volume caps

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Leading investment firms in the UK and Europe are calling for a revamp of the European Union’s regime for trading on unlit venues, after the UK financial regulator relaxed rules on dark trading in London.

EU and UK investment firms are subject to a limit on the amount of trading that can take place on dark pools. The so-called double volume cap, part of the bloc’s sweeping Mifid II reform of financial markets, aims to force more trading on to lit venues in a bid to aid price transparency and

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