A Hungarian trading venue with a “no frills” platform has started up to take on Europe's incumbent exchanges in a battle to reduce trading complexity and costs.
Quote MTF, a Budapest-headquartered multilateral trading facility (MTF), hopes its business model will stand out in the challenging European market, according to CEO Tamás Madlena.
Its fee, at 0.14 basis points on the value of a trade, is the lowest in Europe, with no charges for real-time data or monthly minimum charges. It rolled out with 10 French stocks including Air France, and plans a gradual introduction of the remaining 825 pan-European stocks over the coming six weeks. (Reuters)