Börse Berlin Equiduct Trading, a pan-European multilateral trading facility (MTF) scheduled for launch in September, has begun a “soft launch” of its trading platform.
Speaking to theTRADEnews.com, Artur Fischer, joint CEO of Börse Berlin Equiduct Trading, said: “We are aiming for a functional readiness, including testing of our clearing and settlement functions.”
During the test phase, the MTF will only allow users to execute simulated trades to make sure its systems are ready for a full launch. The next steps for Equiduct will be stress-testing the platform and fine-tuning features such as capacity and latency. The platform will be aiming to execute trades at between 2 and 3 milliseconds following these enhancements.
Equiduct has not yet given an exact launch date or commented on the trading volumes it expects. “There is no reward for us in setting a fixed date and targets on the first date of trading,” said Fischer. “We are well on track for our launch later this year, so now it’s about making sure we are technically capable.”
Clients who execute trades on Equiduct will eventually have a choice of three clearing houses. Upon launch the platform will connect to LCH Clearnet SA, with LCH Clearnet Limited and Eurex Clearing to follow soon after.