Source: Quote MTF
Quote MTF, a next generation, lit trading venue for Pan-European equities, today confirmed that it is ready for its liquidity launch, with a minimum of eight leading passive liquidity providers committed to the multilateral trading platform via its equity participation program. The confirmed participants bring directional and arbitrage trading strategies from the investment banking and principal trading sectors, drawn from the US, UK, Ireland, France and the Netherlands.
Christian Bower, commercial director, Quote MTF, comments: "In light of the changing exchange market dynamics that we have seen so far in 2011, support has rallied behind Quote MTF. It is inevitable now that Quote MTF will have a strong launch. Significant liquidity will be made increasingly available from the beginning of Q2 2011 which will compel liquidity takers, and those firms that need to adhere to best execution policies, to connect and start interacting on the platform. Market participants can monitor and analyse the liquidity through connected market data vendors. We are aiming to secure a 5-6% market share in Pan-European equities."
The trading platform also reaffirms a 'no fee, no rebate' model for passive trading in a bid to promote genuine price discrimination for enhanced trading opportunities. Quote MTF also confirms that it will continue to cap exchange fees at €14,000 until 2012.
Bower adds: "The recent outbreak of mergers between global exchanges will unleash further pressure for a sustained number of lit platforms to keep user costs competitive. Quote MTF's efficient business model, with its operations hosted at the Interxion data centre in the City of London, and clearing all trades through the European Multilateral Clearing Facility (EMCF), will ensure that we can pass these savings straight on to the end user; our exchange fees sit at a floor breaking 0.14bps for taking liquidity."
Quote MTF and its ThymeX matching engine, which has been 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, lit trading venue promotes sustainable market-wide competition in a post-MiFID world.