Quote MTF

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Quote MTF
Quote mtf.png
Founded 2011
Headquarters Budapest
Key People Tamas Madlena, CEO; Christian Bower, Commercial Director
Products Multilateral trading facility
Website www.quotemtf.com

Quote MTF is a pan-European multilateral trading facility launched in April 2011. Partnered with investment banks and electronic market makers, it offers trading on securities listed on major European markets.

Quote MTF was formed in response to increasing consolidation in the equities trading space and serves as a MiFID-compliant vehicle to sustain competition for lit pool equities trading across all European equities markets.

Quote MTF continues to campaign for expansion in developed European markets, with its first foray into emerging European markets set for Q2 2012.

Market Model

Quote MTF is an order-driven platform with a lit book organizing and processing orders in price-time priority. It employs a maker-taker model whereby by liquidity-adders are rebated while liquidity-removers are charged a trading fee.

Technology and Services

Subscribers have multiple options for Quote MTF connectivity through its network of data vendors and network providers, including co-location options.

Order messaging is provided through either FIX or Quote MTF's native API, Qdirect, the latter of which provides latencies under 200 microseconds (as measured by a major electronic market maker).

Market data is available either through a direct feed or through partnering data vendors.

Clearing and Settlement

Clearing of trades on Quote MTF takes place through the European Multilateral Clearing Facility (EMCF). EMCF has been the CCP for Quote MTF Europe since launch.

Interoperability is currently under development.

Regulation

Quote MTF is regulated by the Hungarian Financial Services Authority (HFSA).

Ownership

Ownership is divided among founders and a consortium of investment banks and electronic market makers.

In October 2011, Quote MTF bought the majority stake formerly held by Biremis, severing all ties with the backer.[1]

Key People

References

  1. Quote MTF buys Biremis stake. Financial Times.