Practically all Hungarian brokers adopting Xetra

Practically all Hungarian brokers are adopting the Xetra trading system that the Budapest Stock Exchange will start using in December, business daily Napi Gazdaság has reported. Even smaller brokers say they will adopt the system, which some speculated earlier could force consolidation on the marketplace.

Ferenc Virág, who heads Random Capital, said Xetra did not pose a threat to smaller brokers so much as to bigger businesses that use direct market access systems. He added that the system could bring big foreign players to the bourse, brokers for whom the BSE’s different trading system was earlier a disincentive.

The BSE will introduce the Xetra trading system on its spot market on December 6, replacing the MMTS I system.

“Through connecting to the Xetra network the Hungarian market will be more accessible for the international investors while the new market maker model will help creating additional liquidity and will enhance the quality of the market,” the BSE said earlier.

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