LONDON
NYSE Arca Europe, the new pan-European Multilateral Trading Facility (MTF) launched by NYSE Euronext (NYX), today announced its membership of an industry working group to develop a uniform symbology framework for European equities.
The working group, formed in October 2008 by BATS Europe, Chi-X Europe and NASDAQ OMX Europe, addresses the challenges posed by the multiplicity of stock symbols used in European equities trading on MTFs.
Virginie Saade, Head of NYSE Arca Europe, said: "NYSE Arca Europe is committed to further advance pan-European trading and we are delighted to join this initiative. We believe that enhanced consolidation of market data and more effective smart order routing will be crucial in achieving best execution and choice for clients in Europe."
The aim of the working group is to reduce complexity and create greater efficiency throughout the trading process in Europe by developing and maintaining a uniform framework for such symbols. This would allow for market data from European trading venues to be consolidated more easily and for smart order routing to operate more effectively. Participation in the group is open to all European execution venues.
About BATS
BATS Global Markets (BATS) is an innovative global financial markets technology company headquartered in the Kansas City, Mo., area with additional offices in New York and London. The BATS platform was launched in January 2006 and, operating as BATS Exchange, Inc., is one of the fastest growing, top tier equity markets in the United States. BATS serves the European market through its London based, FSA-authorised subsidiary, BATS Europe, which operates a Multilateral Trading Facility for European securities. The BATS platform is internally developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. BATS Making Markets Better.
About Chi-X Europe
Chi-X Europe Limited is an FSA-authorised securities firm operating as a multilateral trading facility (MTF) for the trading of a wide range of European equities. Chi-X Europe`s low-cost, streamlined operating model is designed to help trading participants achieve ultra-low execution, clearing and settlement costs, and benchmark tests have shown Chi-X Europe to be significantly faster than Europe`s traditional equity exchanges. Chi-X Europe disseminates real-time market data to clients directly and via third-party market data vendors at no cost, and off-exchange trade reporting is available for a low monthly fee. For more information, please visit www.chi-x.com.
About NASDAQ OMX Europe
NASDAQ OMX Europe, the most competitively priced multilateral trading facility in Europe, is the first platform to connect European liquidity pools with Pan-European routing. NASDAQ OMX Europe currently trades approximately 800 securities including constituents of the main European indices, ETFs and other highly liquid securities. For more information about NASDAQ OMX Europe, visit www.nasdaqomxeurope.com.
About NYSE Arca Europe
NYSE Arca Europe is NYSE Euronext's new pan-European Multilateral Trading Facility (MTF), providing customers with low-cost, high-speed access to the most liquid European stocks from eleven countries. NYSE Arca Europe's offering is unique due to its integration with NYSE Euronext, combining the flexibility of an MTF with the trading expertise and resources of a leading global exchange. Featuring a central order book, NYSE Arca is operated on NYSE Euronext's market-leading Universal Trading Platform.
About Turquoise
Turquoise provides electronic execution services to buyers and sellers of pan-European equities, delivering differentiated value throughout the trading process. The Turquoise multi-lateral trading facility (MTF) operates uniformly across 15 European markets with a unique market model, a fully risk-managed clearing solution and efficient economics. The Turquoise MTF`s integrated market combines dark and visible orders to increase execution and price improvement for small orders, whilst minimising information leakage and market impact for larger, institutional-size orders.
Turquoise`s membership spans the diverse community of trading desks active in Europe, from the largest banks and brokers to institutions with local, regional and sector focus, and specialist trading and market-making firms. Turquoise`s technology delivers high throughput and ultra-fast response times to the most demanding trading specifications in the world.
Innovative functionality, wide membership, and competitive pricing combine to make the Turquoise MTF a vital destination for natural liquidity and quality execution across Europe.
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BATS Global Markets
Randy Williams, 212-378-8522
VP, Sales & Communications,
rwilliams@batstrading.com
or
Instinet
Mark Dowd, 212-310-5331
First Vice President, Global Corporate Communications & Public Relations,
mark.dowd@instinet.com
or
FD for Turquoise
Charlie Palmer, +44 207 269 7180
charles.palmer@fd.com
or
Streets Consulting Ltd. for Chi-X Europe Limited
Julia Streets, Phone: + 44 7976 205552
julia.streets@streetsconsulting.com
or
Nasdaq OMX
Jonas Rodny,
+46 8 405 72 67
Global Corporate Communications,
jonas.rodny@nasdaqomx.com
or
NYSE Arca Europe
Corina Blum-Evans,+44 7725063777
Head of Communications & Marketing
cblumevans@nyx.com
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