Deutsche Börse has connected its electronic trading platform Xetra to the Budapest Stock Exchange, allowing Hungarian participants to trade on the system for the first time.
The Budapest Stock Exchange is functioning as a 'Multi Member Frontend Provider' and is supplying the Hungarian participants with access to the technology and networking required to trade on Xetra.
The first five trading participants to use the service are Concorde Securities, ING Hungary, Budacash, Inter Europa Bank and Erste Bank Hungary. In addition, Takarekbank is trading on Xetra via the Internet.
All six firms have also been accepted as participants at the Frankfurt Stock Exchange.
Deutsche Börse says some 310 participants from 16 countries currently participate in Xetra trading. Participants benefit from equal access to the platform regardless of location.