Equiduct Trading, a pan-European equity exchange, is hoping to achieve a market share of 2-4% in all its traded instruments by 2010.
Speaking at a press briefing, Artur Fischer, joint CEO of Equiduct Trading, said, “This is an achievable target and one we have worked out on the basis of our conversations with banks.”
In comparison to other new trading venues, Fischer’s targets are fairly modest. Chi-X, the first multilateral trading facility (MTF), which launched 18 months ago, gained a 5% pan-European market share by value in August, according to Thomson Reuters’ monthly market share report.
Turquoise, the broker-dealer backed MTF that officially launched on Monday, grabbed a pan-European market share of 2.95% in Tuesday’s trading, and believes it is on track to boost this to 5% by the end of this year.
Equiduct plans to launch before the end of 2008 and will enter the pan-European market as a regulated investment exchange under MiFID classifications.