10 October 2015

Equiduct on the brink - FT

17 January 2013  |  4102 views  |  0 EU flag

Pan-European electronic trading venue Equiduct could be forced to close down after being told that its largest shareholder Citadel Securities will stop market-making on the platform within weeks, according to press reports.

Citing sources, the Financial Times says that Citadel warned Equiduct of its plans to withdraw at a board meeting on Tuesday.

Although Equiduct is bidding to attract new investors, hopes of raising money from Deutsche Börse appear to have been dashed and closure is the most likely outcome, says the FT, adding that another board meeting will take place in the coming weeks.

Citadel's decision is part of a wider strategic shift that sees the firm pull back from trading on behalf of European clients on European exchanges because of frustrations with the regulatory landscape.

Equiduct was one of a wave of trading venues to emerge in the wake of MiFID, the European regulatory overhaul designed to provide competition for national exchanges.

However, after a promising start, the market has consolidated in recent years, with the merger of Chi-X Europe and Bats Europe, the LSE's acquisition of Turquoise and the closure of Nasdaq OMX's Neuro.

Citadel pullout leaves Equiduct in limbo - FT

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 stories

25 August, 2011
07 June, 2011
08 June, 2010
30 April, 2010
21 December, 2009
18 December, 2009
02 November, 2009
21 July, 2009
26 September, 2008
21 August, 2008
15 August, 2008

Related company news


Top topics

Most viewed Most shared
European Parliament rubberstamps Payment S...
9126 views comments | 44 tweets | 57 linkedin
Faster Payments eases access for challenge...
5009 views comments | 20 tweets | 25 linkedin
Chinese hackers breach LoopPay
5003 views comments | 8 tweets | 6 linkedin
London fintech investment in first three q...
4698 views comments | 25 tweets | 19 linkedin
From biometrics to one-time passcodes, Mas...
4694 views comments | 12 tweets | 18 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job