21 October 2017
Register now

New Spanish MTF taps Equiduct for tech platform

30 September 2010  |  6512 views  |  0 handshake

Equiduct Systems has won a contract to provide the technology infrastructure for Spain's first MTF, Plataforma Alternativa de Valores Españoles (Pave).

In August Pave put out a statement announcing its arrival on a scene dominated by Bolsas y Mercados Españoles (BME). However it provided few details on backing with the unnamed people behind it saying only that they were "bringing together the support of Spanish and international banks and funds".

The man behind the project has now been confirmed as Javier Tordable Parcerisa, a former senior advisor to Deutsche Börse and Eurex for new products and market exchanges acquisitions.

In 2005 he established Spanish CO2 emissions exchange, SendeCO2 in Barcelona and maintains a 33% stake in the business.

The MTF has inked a deal with Equiduct Systems for the provision of the trading platform and operational infrastructure. This will give institutional and retail brokers, banks and hedge funds the ability to provide high-quality execution at the best price offered, says Pave.

Launched last year, Equiduct is itself one of several new trading platforms in Europe aiming to take advantage of the EU's Markets in Financial Instruments Directive (MiFID) and compete with incumbent exchanges. It is majority owned by Citadel and counts Knight Capital and Börse Berlin among its shareholders.

Says Parcerisa: "Pave is being established to attract international traders and increase liquidity in Spanish equities. The Equiduct Systems Limited offering is unparalleled - leading-edge technology supported by market making expertise from Citadel Securities and Knight."

Peter Randall, CEO, Equiduct Systems, adds: "Pave signals the beginning of the second wave of alternative platforms in Europe. The health of Europe's trading environment is, in part, determined by the level of competition. Equiduct Systems Limited is proud to support this initiative."

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 stories

Spain set to get first MTF

Spain set to get first MTF

25 August 2010  |  7435 views  |  0 comments
Knight takes Equiduct stake

Knight takes Equiduct stake

08 June 2010  |  7250 views  |  0 comments
Equiduct in talks to take on Nasdasq OMX Neuro business

Equiduct in talks to take on Nasdasq OMX Neuro business

30 April 2010  |  6910 views  |  0 comments
Former Chi-X chief Randall moves to Equiduct

Former Chi-X chief Randall moves to Equiduct

18 December 2009  |  14113 views  |  0 comments
Citadel takes majority stake in Equiduct

Citadel takes majority stake in Equiduct

21 July 2009  |  5821 views  |  0 comments
More upstart exchanges set to enter crowded post-MiFID market

More upstart exchanges set to enter crowded post-MiFID market

21 August 2008  |  10872 views  |  0 comments
Börse Berlin takes majority stake in Equiduct

Börse Berlin takes majority stake in Equiduct

25 September 2007  |  11168 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.vasco.comvisit www.innotribe.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
9316 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8783 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7904 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7423 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
7063 views comments | 14 tweets | 27 linkedin

Featured job

circa £250K total package
London

Find your next job