Netherlands-based European trading platform The Order Machine (TOM) has chosen European Multilateral
TOM, a retail-focused 50/50 joint venture of Dutch bank BinckBank and proprietary trading firm Optiver, recently applied for licence from the Dutch Financial Markets Authority (AFM) to operate as a multilateral trading facility.
“In EMCF we have chosen a partner that is trusted by our other technology supplier Nasdaq OMX. Above all, EMCF is a leader in this field in Europe,” said Henk Wim van Arem, director, TOM.
“TOM is an important and pioneering initiative that is rightfully attracting a lot of attention,” said Jan Booy, CEO, EMCF. “We at EMCF are proud to be part of this new partnership.”
TOM intends to operate both as an execution broker and trading platform. As well as the TOM trading venue, TOM Broker aims to find the best price for the clients of associated banks by searching through Europe’s other trading platforms.
EMCF already provides
CCP services for a wide range of MTFs, including BATS Europe,
Europe, Nasdaq OMX
and QUOTE MTF
as well as
The clearer is owned by Fortis Bank Nederland and Nasdaq OMX Nordic, and is regulated by the Dutch central bank, the AFM and the UK’s Financial Services Authority.