Nasdaq OMX Europe, a pan-European multilateral trading facility (MTF), has modified its onward routing fee structure for the third time since its launch last September and has added new trading venues to the service.
Equity trading platform Turquoise will introduce a pan-European dark pool aggregation service in the first quarter of 2009, subject to regulatory approval, but only intends to connect broker-backed dark pools.
Pan-European trading venue Nasdaq OMX Europe has extended trading to include the constituents of three European mid-cap indices. The AMX25, NEXT20 and MDAX include mid-cap stocks from the Netherlands, France and Germany respectively.
Europe’s new multilateral trading facilities (MTFs) have started taking market share from one another, as their ranks have swelled and the amount of order flow they have been able to capture from incumbent exchanges has stagnated, according to research from investment bank Citi.