20 August 2017
Find out more

TOM MTF starts trading Dutch equities

08 October 2010  |  3226 views  |  0 Source: The Order Machine

TOM, The Order Machine, announces that TOM MTF will start trading Dutch equities as of 8 October 2010.

In addition to the founding members, namely BinckBank and Optiver, TOM is now giving third parties the opportunity to trade on TOM MTF. Initially, the members of TOM MTF will be: ABR Financial, IMC, Optiver and TOM Smart Execution. BinckBank will have their customer orders sent to the Smart Order Router (SOR) of TOM Smart Execution. The SOR has the ability to execute client orders on TOM MTF or on NYSE Euronext Amsterdam, hereby fulfilling the best execution requirement under the European MiFID legislation.
Willem Meijer, CEO of TOM: "The launch of the MTF is a milestone for both TOM and its members. From this point on, market participants in the Netherlands now have a serious alternative to execute their transactions at substantially lower costs. Furthermore, banks and brokers will now have the opportunity to compare prices on various exchanges for their retail customers. The legislation set forth by the European MiFID has unlocked opportunity. The start of this initiative is therefore an interpretation of the principle that promotes competition between exchanges and the best execution obligation, as set out by MiFID."
Rob Defares, CEO of IMC: "We are delighted with the start of TOM MTF. Competition in the market results in lower transaction costs on exchanges. This is attractive for both professionals, like IMC, and retail banks. We therefore strongly support this initiative."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.dorsum.eudownload the paper now

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10031 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8412 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8055 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
7989 views 0 | 3 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
7320 views comments | 15 tweets | 13 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job