BinckBank announces: TOM granted MTF licence from AFM
(Thomson Reuters ONE) -
BinckBank announces: TOM granted MTF licence from AFM
TOM B.V., The Order Machine, has received a license from Dutch regulator AFM for
operating a Multilateral Trading Facility (MTF) in cash equities.
TOM is a joint venture of BinckBank and Optiver.
Further details, see the TOM press release.
About BinckBank N.V.
BinckBank is an online bank for investors, ranked in the top five in Europe. As
an online broker, it offers its clients fast, low-cost access to all the
important financial markets around the world. As an online bank for investors,
BinckBank helps its clients look after their capital with BinckBank's online
asset management services and online savings. BinckBank offers its professional
clients fast, low-cost order execution and administrative processing of
securities and cash transactions, in the form of insourcing (client BPO) or
licensing of the appropriate software.
BinckBank is an independent online bank for investors, which is listed on
Euronext Amsterdam. We have offices in the Netherlands, Belgium, France and
Spain. BinckBank has 620 employees at end of 2009. Our operations are split into
two business units: Retail and Professional Services. BinckBank was formed in
2000 and has now more 360,000 account holders.
Public Relations:
Harmen van der Schoor
t: +31 (0)20 522 03 78
e: hvdschoor(at)binck.nl
Investor Relations:
Anneke Hoijtink
t: +31 (0)20 522 03 72
e: ahoijtink(at)binck.nl
BinckBank N.V.
Vijzelstraat 20
1017 HK Amsterdam
www.binck.com
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PRESS RELEASE
Amsterdam, April 6, 2010
TOM now also open for third parties
TOM B.V., The Order Machine, has received a license from Dutch regulator AFM for
operating a Multilateral Trading Facility (MTF) in cash equities.
By obtaining this license other market participants in addition to the founders
of TOM, BinckBank and Optiver, will be able to connect to the trading platform
of TOM.
CEO Willem Meijer: ?Obtaining the MTF-license from the AFM is an important
milestone for TOM. Banks, brokers and liquidity providers can now join our
platform. They will obtain access to excellent liquidity at significantly lower
transaction costs."
TOM expects to act as MTF in derivatives before the end of this year.
About the TOM group
TOM (The Order Machine) consists of a cost efficient, transparent and open
trading platform (TOM MTF) and a "search engine" which indentifies best
execution opportunities on various exchanges and trading platforms (TOM Smart
Execution).
For investors TOM Smart Execution searches for the best prices on various
trading platforms and exchanges among which TOM's own platform, TOM MTF.
TOM introduces the required MiFID "best execution" of securities transactions
for its customers and it enhances the required competition between exchanges and
alternative trading platforms. Ultimately this has to result in better execution
prices for investors as well as in lower transaction costs.
TOM is a joint venture of BinckBank and Optiver.
MTF
MTF is the abbreviation of Multilateral Trading Facility. This is a new kind of
trading platform for securities. European legislation MiFID, introduced in
2007, requires "best execution" for investors as well as competition between
exchanges and alternative trading platforms. the introduction of MTF's in the
European securities trading arena has assisted in reaching these goals.
For more information
Carl Byoir & Associates
Edwin van Wijk
+31 (0)20 - 642 79 09
+ 31 (6) 55 86 79 01
evwijk(at)carlbyoir.com
[HUG#1400891]
BinckBank announces: TOM granted MTF licence from AFM: http://hugin.info/130685/R/1400891/356050.pdf
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Datum: 06.04.2010 - 12:54 Uhr
Sprache: Deutsch
News-ID 1012476
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