Börse Berlin - formerly known as the Berlin Stock Exchange - has acquired an undisclosed majority stake in Equiduct, the MiFID-ready pan-European trading platform.
Börse Berlin says the aim of the transaction is to take advantage of the opportunities provided by the introduction of MiFID in November.
The Equiduct platform, which is based on an upgraded version of the Easdaq exchange technology platform, has been designed to provide users with a MiFID-compliant, integrated Europe-wide single connection for trading services and execution.
Since its launch last year the Equiduct venture has been headed by Bob Fuller, former director of IT strategy at Dresdner Kleinwort Wasserstein. However following the Börse Berlin investment, Fuller is reportedly leaving the company at the end of October, just before MiFID kicks in.
In today's statement, the German exchange says it will team with Equiduct to provide clients "unrivalled access to trading in a broad category of European financial instruments".
"Through this partnership, we will be able to provide a uniquely suited and very cost efficient market that will allow us to carve-out a competitive position as a full-service pan-European exchange," says Artur Fischer, executive director in charge of strategy at Börse Berlin.