EMCF WINS CENTRAL COUNTERPARTY BUSINESS OF QUOTE MTF

Posted September 8, 2009

AMSTERDAM – The European Multilateral Clearing Facility (EMCF) has become the central counterparty clearinghouse (CCP) for all trades executed on Quote MTF, which concluded its first day of trading successfully on September 7.

By partnering with EMCF, Quote MTF, the Hungarian based multi-lateral trading facility (MTF) gives its clients access to one of the most cost-effective clearing fees in Europe.

“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 offers CCP services for more trading platforms than any other party in Europe. EMCF spans equity trading on almost 80 percent of the European MTF market as it 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 optimization,” says 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.”