NYSE Euronext (NYX) is launching a Multilateral Trading Facility (MTF) for the trading of pan-European blue-chip stocks, as part of its strategy to offer a full and even more competitive and comprehensive service to meet the needs of all its customers.
NYSE Euronext's launch of the MTF is planned for November this year when a phased introduction of pan-European stocks will begin, in consultation with its customers, which will include coverage of all components of the major indices not already listed on Euronext markets. The MTF will be the most powerful platform in Europe, based on Arca technology, designed to offer ultra-low latency in microseconds, as well as simpler and innovative functionalities. The trading model is built around a central limit order book.
Cees Vermaas, Executive Director, European Sales at NYSE Euronext, says, "As a cross-border regulated market we already offer trading in Belgian, Dutch, French and Portuguese securities. This exciting new service complements both our existing market and the block trading facility, SmartPool, giving our customers access to a range of execution solutions, depending on the needs of their flow. In an increasingly competitive marketplace we have a huge advantage in that we already have the client connections and infrastructure whereby our members will be able to access this new MTF."
The MTF will be open to all types of traders and is designed to be particularlyattractive to high frequency traders. Existing members can trade on the platform by simply extending their membership.
The post trade arrangements will be supported by a player capable of clearing on a pan-European basis.
The MTF will be regulated by the AFM (the Dutch regulator).