Alpha x Europe is a crossing network launched by Socit Gnrale Corporate & Investment Banking which matches its clients buy and sell orders on a particular stock through an integrated electronic execution platform.
Depending on available liquidity, orders are either fully or partially executed in Alpha x Europe, with the remaining orders being routed to the regulated exchanges in the latter case. Alpha x Europe is a natural source of liquidity fed by the institutional client order flow where Socit Gnrale Corporate & Investment Banking acts as a broker-dealer.
Covering all European stock exchanges, and in compliance with the Markets in Financial Instruments Directive (MiFID), Alpha x Europe offers the following client advantages:
-Protecting participants interests:
Alpha x Europe preserves institutional clients interests thanks to a completely anonymous system, guaranteeing confidentiality of orders.
-Access to a major source of liquidity:
Within a fragmented marketplace, Alpha x Europe offers institutional investors the opportunity to access a major source of liquidity through a provider such as Socit Gnrale, which is participant on European markets of NYSE-Euronext (France, Belgium, The Netherlands, Portugal) and Borsa Italiana (Italy), second on BME (Bolsas y Mercados Espanoles, Spain) and third on the LSE (UK), Xetra (Germany) and SWX Europe (Switzerland).
-Reduce transaction costs:
For institutions that choose to benefit from this natural source of liquidity, Alpha x Europe executes orders by crossing at mid-spread of the best bid and offer, reducing implicit transaction costs by half. Socit Gnrale Corporate & Investment Banking estimates this benefit amounts to a gain of 0.05% to 0.12% depending on the stock.
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