Nasdaq OMX Europe, the pan-European multilateral trading facility (MTF) owned by exchange group Nasdaq OMX, will start trading shares listed on the Budapest and Prague stock exchanges from 16 April.
The MTF had originally planned to start trading stocks listed on the Budapest, Prague and Warsaw stock exchanges in Q1 2010. The firm has not indicated a date for launching Warsaw Stock Exchange-listed shares; the launch depends on the enactment of a new regulation that would exempt foreign firms from paying stamp duty on most equity trades in Poland.
The new additions to Nasdaq OMX Europe’s stock list comprise the 12 constituents of Hungary’s BUX index and the 12 constituents of the Czech Republic’s PX index.
For trading PX stocks, the MTF will charge members 1.5 basis points for removing liquidity and pay a rebate of 1 bp for adding it. For BUX stocks, it will charge 1 bp for taking liquidity and rebate 0.5 bps for adding it.
The firm will also change the tariff for trading the Vienna Stock Exchange-listed constituents of Austria’s ATX index to match that for BUX stocks from 1 April.
The tariff for trading ATX, BUX and PX stocks on NEURO Dark, Nasdaq OMX Europe’s non-displayed order book, will be 0.5 bps, or 0.05 bps when using the SELF strategy, which enables users to execute orders against themselves.
Trades will be cleared through European Multilateral Clearing Facility, Nasdaq OMX Europe’s main central counterparty clearing house, in which it owns a 22% stake.
Nasdaq OMX Europe joins a number of MTFs trading central and eastern European stocks. Buy-side only dark trading platform Liquidnet started trading Polish equities on 15 February, having traded Hungarian securities since 2007. Turquoise, now owned by the London Stock Exchange, started trading constituents of the BUX and PX indices on 26 February.