This summer will see the launch of yet another pan-European multilateral trading facility, Quote MTF, a Hungarian-based platform that will offer liquidity from third-party market-makers from launch.
Quote MTF is 60% majority-owned by BRMS Holdings, which already owns stakes in Canadian alternative trading venues SwiftTrade and Omega ATS. The firm is building its own proprietary trading system from scratch and has already agreed a deal with a central counterparty, which it expects to announce within a few weeks. Quote MTF’s projected Q2 launch could take the number of pan-European blue-chip MTFs to six, pending the launch of NYSE Arca Europe by exchange group NYSE Euronext, due to start trading in Q1 2009.
“We think we will have a number of factors that will differentiate us from the rest of market,” Gabor Kutas, member of the board, Quote MTF, told theTRADEnews.com. “We will have a different pricing model to the others, which we will elaborate on in due course, and will be among the most aggressive for paying liquidity sponsors, who will be making markets from day one. Additionally, there are no banks or incumbent exchanges with stakes in the platform, so there will be no political issues.”
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