BATS Trading Europe, a pan-European multilateral trading facility scheduled to launch this year, will use Fortis’s European Multilateral Clearing Facility (EMCF) to clear its trades. EMCF made its debut as the clearing facility for Chi-X, a multilateral clearing facility (MTF) launched in 2007.
“Project Turquoise is undoubtedly going to come to Japan,” announced Neil Katkov, group head of research at Celent Japan, the research and consulting firm, speaking at TradeTech Japan 2008 conference in Tokyo today.
Turquoise, a pan-European multilateral trading facility (MTF) scheduled for launch in September, is to begin its daily trading at 07.45, compared with 08.00 at rival trading venues such as the London Stock Exchange.
Fidessa Group, a provider of trading systems, market data and global connectivity solutions, is to connect to Instinet's Korean crossing network, KoreaCross.
Nasdaq OMX has said that its decision to use the European Multilateral Clearing Facility (EMCF) for its pan-European platform was steered by Chi-X’s decision to use the same service.