10 December 2016
Visit aciworldwide.com

Nasdaq OMX waves white flag on pan-European ambitions

28 April 2010  |  7083 views  |  1 Nasdaq

Nasdaq OMX is to shutter its pan-European Multilateral Trading Facility Neuro, marking the first signs of a forecast contraction in the crowded MTF market.

The decision to abandon the business was made following an assessment of the financial prospects of Neuro, says Eric Noll, EVP of Nasdaq OMX.

"Despite our best efforts, the increasingly competitive nature of the MTF space in Europe has meant that the growth of the business hasn't reached levels necessary for us to realise our stated objectives," he says.

The last day of trading on Neuro is expected to be 21 May, 18 months since the launch of the pan-European platform in September 2008.

However, Nasdaq OMX Europe failed to garner more than two per cent market share amid fierce competition following the opening up of European financial markets under the MiFID regime,

The exchange says it remains committed to London as a financial centre and will retain president Charlotte Crosswell to work on business development initiatives in London and across Europe. She will also oversee the transition of Neuro customer relationships to Nasdaq OMX Nordics, where Hans-Ole Jochumsen will assume responsibility for pan-European equity trading.

Comments: (1)

Elizabeth Lumley
Elizabeth Lumley - Rainmaking Innovation - London | 28 April, 2010, 16:32

Charlotte Crosswell kept this quiet at TradeTech.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

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

Related stories

Nasdaq OMX sets back Nordic system migration deadline

Nasdaq OMX sets back Nordic system migration deadline

16 November 2009  |  6413 views  |  0 comments
Nasdaq OMX profit slides on market share declines and write-offs

Nasdaq OMX profit slides on market share declines and write-offs

06 August 2009  |  4311 views  |  0 comments
Nasdaq OMX Europe offers share options in return for trading

Nasdaq OMX Europe offers share options in return for trading

30 March 2009  |  5681 views  |  0 comments
Nasdaq OMX Europe plans dark pool

Nasdaq OMX Europe plans dark pool

17 March 2009  |  5001 views  |  0 comments
MTFs set to win more market share as price competition takes hold

MTFs set to win more market share as price competition takes hold

19 February 2009  |  8637 views  |  0 comments
Nasdaq OMX buys stake in EMCF

Nasdaq OMX buys stake in EMCF

16 October 2008  |  8298 views  |  0 comments
Nasdaq OMX launches European platform

Nasdaq OMX launches European platform

26 September 2008  |  5147 views  |  0 comments
Nasdaq OMX wins FSA approval as Nyse Euronext prepares to launch Octopus MTF

Nasdaq OMX wins FSA approval as Nyse Euronext prepares to launch Octopus MTF

08 September 2008  |  7951 views  |  0 comments
Nasdaq OMX sets pricing for European platform

Nasdaq OMX sets pricing for European platform

03 September 2008  |  7627 views  |  0 comments
Nasdaq OMX teams with Citi on pan-European order routing

Nasdaq OMX teams with Citi on pan-European order routing

01 September 2008  |  7589 views  |  0 comments
Nasdaq OMX gears up for European launch

Nasdaq OMX gears up for European launch

15 August 2008  |  6760 views  |  0 comments
MTFs to take 20% of European trading volume  - Aite Group

MTFs to take 20% of European trading volume - Aite Group

14 November 2007  |  5271 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
China tops world fintech rankingsChina tops world fintech rankings
8541 views comments | 39 tweets | 31 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
8122 views comments | 37 tweets | 48 linkedin
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
8006 views 12 comments | 15 tweets | 27 linkedin
PSD2 will transform the payments landscapePSD2 will transform the payments landscape
7059 views comments | 23 tweets | 13 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6832 views comments | 20 tweets | 23 linkedin

Featured job

Find your next job