Nasdaq OMX Europe, the pan European trading venue launched on 26 September, has unveiled a new price promotion in a bid to become the most competitively priced European trading venue.
The new fee schedule includes a 25% increase in rebates – from 0.20 basis points to 0.25 bps – for adding liquidity on the Nasdaq OMX Europe order book from sales or purchase orders, and a 17% discount from the charge incurred for removing liquidity, from 0.30 bps to 0.25 bps.
Fees for using the platform’s onward routing service to the London Stock Exchange (LSE) for UK listed equities have also been slashed by 70%, from 0.65 bps to an all inclusive transaction fee of 0.25 bps.
This follows plans from the LSE on 1 October to charge a fee for orders routed to it from multilateral trading facilities (MTFs), a charge that Nasdaq OMX Europe president Charlotte Crosswell dubbed as “anti-competitive”.
Commenting on the price changes, Crosswell said: “This promotion will introduce the most competitive pricing for any trading venue in Europe. We are delivering on our promise to provide a better trading experience to investors, while reducing costs not only on our own book but also across other marketplaces in Europe.”
The promotion will begin on 3 November, and will be reviewed at the end of this year.
Separately, Nasdaq OMX Europe has also announced that Italian stocks will be available for trading on its platform from 24 October. From this date, five MIB 30 stocks, which include Enel, Eni, Fiat, Intesa Sanpaolo and Unicredit, will be rolled out. The remainder of the MIB 30 index will be added on 31 October.