Court rules in favour of TOM Smart Execution
Today, 21 February 2011, the court in Amsterdam ruled that TOM Smart Execution (TOM Broker B.V.) is to become a member of NYSE Liffe immediately. TOM Smart Execution summoned NYSE Liffe in January this year and met 7 February 2011 in summary proceedings before the Amsterdam District Court.
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Willem Meijer, CEO of TOM: "We welcome today's ruling by the court which enables us to obtain membership on NYSE Liffe. Retail inverstors will soon have the opportunity to compare prices on various exchanges for derivatives orders as well".
TOM Smart Execution already compares execution prices for equity orders for some time now. The launch of derivatives Smart Order Routing by TOM promotes competition between exchanges and fulfills the retail best execution obligation of banks and brokers as set out by MiFID."