Buy-side institutions can now connect to Quote MTF, the new Hungary-based multilateral trading facility, via Neonet, an agency broker and trading technology provider.
Quote MTF, a pan-European trading venue launched earlier this month by Canada’s BRMS Holdings, intends to offer trading in 835 European stocks by the completion of its roll-out in October.
The MTF has been integrated into Neonet’s smart order routing technology. As part of the agreement, Quote MTF’s market data will be incorporated into Neonet’s proprietary consolidated European tape.
“We blend the order books of traditional exchanges, alternative marketplaces and dark liquidity venues to ensure that our clients achieve best execution across multiple markets. We are delighted to add yet another MTF to our global market offering,” said Simon Nathanson, CEO and president of Neonet.
“Quote MTF is designed to be a low-cost, ultra-low-latency one stop shop for European equities and exchange-traded funds. We believe that our no-frills business model adds value to the European trading landscape and its participants,” said Tamás Madlena, CEO of Quote MTF.
Neonet now connects to more than 35 trading venues.
BRMS Holdings has a majority stake in Canadian alternative trading systems SwiftTrade and Omega ATS.