Portuguese Stock Exchange OPEX is set to start activity on PEX-MTF, its new multilateral trading facility (MTF) aimed at the Portuguese market, on 16 June.
According to OPEX, the new MTF will provide an online, fully automated market for equities and was launched as a direct consequence of MiFID (EU Markets in Financial Instruments Directive) . Trading for the market will be from 08.00 to 19.00 and will be under the supervision of the Portuguese market regulator, Comissão de Mercado de Valores Mobiliários.
A group of firms including Caixa Banco de Investimento, Finibanco, Lisbon Brokers and Golden Brokers, have been selected to pilot the system.