Pan-European multilateral trading facility (MTF) Quote MTF plans to extend its product coverage to more than 1,350 of the most liquid securities and exchange-traded funds at the end of September 2010. The latest expansion adds Swiss and Austrian equities, and extends coverage on current markets to all stocks cleared by Dutch-based central counterparty European Multilateral Clearing Facility.
To coincide with its final launch phase, Quote MTF, which is based in Hungary and launched at the end of 2009, has also announced plans to cap commission fees at €14,000 until 2012 for all investors who sign up for the service before 1 January 2011.
The fee cap is intended to allow retail brokers, trading arcades and institutional investment banks to offer a low, fixed all-in price for their clients while gaining the benefits once the cap is reached.
“Since we opened Quote MTF in September 2009 to the European trading community, we have extended our pan-European product set so that investors can now trade as many equities or ETFs as the market's most established multilateral trading facilities,” said Tamas Madlena, CEO at Quote MTF. “In today's market, investors favour a competitive trading landscape so that they can optimise their trading strategies by using the disparate exchanges and MTFs to capitalise on the theory of trade price discrimination.”
The trading venue, which is regulated by the Hungarian financial regulator, is majority-owned by BRMS Holdings, which also has a stake in Canadian alternative trading systems SwiftTrade and Omega ATS.