European Multilateral Clearing Facility (EMCF) has announced that it is the central counterparty clearinghouse (CCP) for all trades executed on QUOTE MTF.
By partnering with EMCF, QUOTE MTF, the Hungarian based multilateral trading facility (MTF) which started trading on September 4th 2009, gives its clients access to clearing fees in Europe. With its London based matching engine QMTF offers trading in European blue chips and ETFs. Order entry and market data dissemination is based on industry standards.
As we net all fees together for executions from all of the platforms we service across Europe, clients have only one settlement fee, instead of paying multiple fees, says Jan Booij, CEO of EMCF. We are clearly the most competitively-priced CCP provider in Europe and as such we are driving innovation and competition.
EMCF operates for four of the five European MTFs including BATS Europe, Chi-X Europe, Nasdaq OMX Europe and QUOTE. Additionally it operates as CCP for Nasdaq OMX Nordic markets.
Given that the EMCF is the CCP provider for many other MTFs it offers us very large scale of optimisation, said Tamas Madlena, CEO of QUOTE MTF. Liquidity is provided by two committed high-frequency market makers offering the narrowest possible spreads in Europe from the start.
Sarah Keane