QuoteMTF completes roll out; caps fees
08 September 2010 | 2191 views | 0
Quote MTF, a new breed of trading venue for Pan-European equities, today announced that it will be extending its product coverage at the end of September to more than 1,350 of the most liquid securities and ETFs (exchange traded funds) across 21 indices and 15 major European markets. To coincide with the second and final launch phase of this new breed of MTF, Quote MTF also announced its intention to cap commission fees at €14,000 from now until 2012. With this new offering retail brokers, trading arcades and institutional investment banks can offer a low, fixed all-in price for their clients while reaping the benefits once the cap is reached.
The offer, which is available for all investors who sign up for the service before 1 Jan 2011, delivers significant economic upside to trading firms and by utilising industry standard protocols ensures a cost-effectively connect to Europe's newest, independent Multilateral Trading Facility (MTF). In addition to the commission benefits, participants will also experience significant investment opportunities in active participation underpinned by a parallel plan to encourage passive participation.
Tamas Madlena, CEO, Quote MTF, comments: "Since we opened Quote MTF in Sept 2009 to the European trading community, we have extended our pan-European product set so that investors can now trade as many equities or ETFs as the market's most established Multi-Lateral Trading Facilities. We have also further honed our business model to ensure that Quote MTF is a business thoroughbred - viable and sustainable. Our decision to put a cap on all commission payable by a single trading firm from now until Dec 2011 underlines our determination to actively demonstrate to market participants the benefits of using our trading venue for profit generating investment strategies."
Madlena adds: "In today's market, investors favour a competitive trading landscape so that they can optimise their trading strategies by using the disparate exchanges and MTFs to capitalise on the theory of trade price discrimination. By adopting a radically different, intelligent business model, newcomers to the industry are able to reassure investors that they have the financial stability to provide these services long-term."
Quote MTF, which has been tried, tested and proven in the Canadian markets via Omega ATS, is a fast, resilient and highly scalable trading environment. Requiring only a fraction of Europe's liquidity for the company to breakeven, this next-generation venue promotes market-wide competition in a post-MiFID world.