24 November 2014

The Order Machine gets green light for best execution venture

23 June 2009  |  4712 views  |  0 stocks

Dutch market regulators have approved a broker license for The Order Machine - a 50/50 joint venture between BinckBank and Optiver set up to provide best execution and dark pool trading facilities for European equities.

Amsterdam-based TOM will initially guarantee best execution for private investors trading equities through its own platform or the Nyse Euronext Amsterdam market. Over time it says it will extend the service to reach other European multi-lateral trading facilities and other asset classes. Ultimately, the ambition is to extend beyond the private investor and set up a fully-functioning MTF to which banks and other liquidity providers could have access.

The company has contracted with trading technology vendor Quod Financial to deploy its Adaptive Smart Order Router system for liquidity sourcing, and with Nasdaq OMX for the provision of trading and clearing operations.

Henk Wim van Arem, director of TOM, comments: "TOM has an accelerated agenda so from the outset we needed dynamic technology that will drive our vision, enabling us to provide best execution services to retail banks."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related company news

 

Featured job

£300K + package with no upper limit
London based with substantial travel in the Region

Find your next job