19 June 2018
Visit www.avoka.com

Equiduct on the brink - FT

17 January 2013  |  4884 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)

Finextra news in your inbox

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

Related stories

LSE offers no objection to Bats-Chi-X merger

LSE offers no objection to Bats-Chi-X merger

25 August 2011  |  6907 views  |  0 comments
Equiduct out, Cinnober in for Spanish MTF Pave

Equiduct out, Cinnober in for Spanish MTF Pave

07 June 2011  |  6724 views  |  0 comments
Knight takes Equiduct stake

Knight takes Equiduct stake

08 June 2010  |  7356 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  |  7002 views  |  0 comments
LSE to take control of Turquoise

LSE to take control of Turquoise

21 December 2009  |  15300 views  |  1 comments
Former Chi-X chief Randall moves to Equiduct

Former Chi-X chief Randall moves to Equiduct

18 December 2009  |  14228 views  |  0 comments
Deutsche Börse begins pan-European blue chip trading

Deutsche Börse begins pan-European blue chip trading

02 November 2009  |  6793 views  |  1 comments
Citadel takes majority stake in Equiduct

Citadel takes majority stake in Equiduct

21 July 2009  |  5905 views  |  0 comments
Nasdaq OMX launches European platform

Nasdaq OMX launches European platform

26 September 2008  |  5481 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  |  10953 views  |  0 comments
Turquoise goes live

Turquoise goes live

15 August 2008  |  12869 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit equensworldline.comVisit iliad-solutions.com/Visit www.aciworldwide.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: Monzo launches bill tr...
A Finextra member Finextra Member Commented on: NatWest taps Open Bank...
A Finextra member Finextra Member Commented on: HSBC promises $17bn in...

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...
48867 views comments | 44 tweets | 35 linkedin
Ripple exec says DLT not ready for banks...yetRipple exec says DLT not ready for banks.....
10663 views comments | 9 tweets | 32 linkedin
UK launches £2.5bn startup initiativeUK launches £2.5bn startup initiative
9514 views comments | 30 tweets | 26 linkedin
HSBC promises $17bn investment in technologyHSBC promises $17bn investment in technolo...
8420 views comments | 8 tweets | 21 linkedin
NatWest taps Open Banking for cardless online paymentsNatWest taps Open Banking for cardless onl...
8079 views 11 comments | 12 tweets | 12 linkedin

Featured job

Six-Figure Base + OTE + Benefits
London, UK

Find your next job