19 June 2018
Visit www.gemalto.com

The Order Machine gets green light for best execution venture

23 June 2009  |  5425 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)

Finextra news in your inbox

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

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit iliad-solutions.com/

Who is commenting?

A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: Monzo launches bill tr...

Top topics

Most viewed Most shared
10,000 jobs could be lost to robots says Citi10,000 jobs could be lost to robots says C...
48920 views comments | 44 tweets | 35 linkedin
Ripple exec says DLT not ready for banks...yetRipple exec says DLT not ready for banks.....
10723 views comments | 9 tweets | 32 linkedin
UK launches £2.5bn startup initiativeUK launches £2.5bn startup initiative
9620 views comments | 30 tweets | 26 linkedin
HSBC promises $17bn investment in technologyHSBC promises $17bn investment in technolo...
8458 views comments | 8 tweets | 21 linkedin
NatWest taps Open Banking for cardless online paymentsNatWest taps Open Banking for cardless onl...
8105 views 11 comments | 12 tweets | 12 linkedin