Tag: MTFs & ECNs

Direct Edge moves forward with exchange plans

Direct Edge, a US electronic communications network (ECN), has completed its acquisition of the ISE Stock Exchange, a US equity exchange operated by the International Securities Exchange (ISE).

UPDATE: Turquoise to aggregate broker dark pools only

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.

Nordea takes stake in Nordic MTF

Nordea, the pan-Nordic bank, has joined Burgundy, the new multilateral trading facility (MTF) for listed Nordic securities, as a shareholder. Burgundy is scheduled to launch in the first half of 2009.

Nasdaq OMX Europe extends coverage with mid-cap stocks

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.

It’s MTF eat MTF – Citi

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.