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QuoteMTF Completes Go-Live With Passive Liqudiity Providers

Initial participants in the Pan-European trading venue's equity participation program, are starting to trade across more than 1,400 single stocks and ETF securities.

Quote MTF, a lit trading venue for Pan-European equities, today confirmed that it has completed the connections and go-live of its leading passive liquidity providers that committed to the multilateral trading platform via its equity participation program.

In a statement, Christian Bower, commercial director, Quote MTF, commented: "The launch has been technically flawless with the first wave of connections utilizing FIX and our native interface, QDirect. The initial participants and additional subscribers are starting to trade broadly across the European markets in more than 1,400 single stocks and ETF securities."

Bowers said he expects subscribers will progressively ramp up trading over the coming days and weeks as they get assimilated to the platform. “Algorithms and Smart Order Routing (SOR) logic will start to factor in the increasing historical trading activity and adapt. Proactive brokers, capitalizing on their early mover status, are already taking advantage of the new liquidity and the fee cap."

Quote MTF also confirmed that technical stability has “led to a foothold in market share.” However, no market share figures were provided in the release. Quote MTF order book data is featuring in statistics used by practitioners to evaluate the quality of available liquidity, which in turn will influence connection. The quality criteria that appeals to all potential European trading participants includes best prices (EBBO), depth, spread, time and size.

Quote MTF is now looking to optimize and harness quality participation to drive subscription and develop market share, according to the release.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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