EQUIDUCT, a pan-European platform offering solutions to both retail and institutional brokers since 2009, has secured an investment of €3.25 million from Optiver, Virtu, Börse Berlin, Dr. Jos Peeters, among other investors.
Equiduct is a market segment of Börse Berlin which offers a fully transparent central limit order book in approximately 1,500 European shares and two unique liquidity provision schemes, called PartnerEx catering for Retail order flow and SpotVBBO servicing Institutional flow. Currently trading over €40 billion per year, the investment will be used to increase its market share while expanding its product offering and instrument coverage.
Dave Murphy, Chief Executive Officer of EQUIDUCT, said:
“We are excited about the support we’ve received. In an increasingly competitive space, we remain focused on providing investors with a cost-effective, one-stop-shop solution to the challenge of providing the best execution on a pan-European level. By using Europe’s first tradable consolidated tape, we have also been able to reduce the cost of market data, an area that has seen fee increases across Europe since the introduction of MiFID II.”
Artur Fischer, Chairman of EQUIDUCT and co-CEO of Börse Berlin, added:
“Since launching in 2009, Equiduct has been focused on providing a platform which gives access to best execution services on a transparent regulated market. While we have witnessed the increase in bilateral trading through systematic internalisers since the introduction of MiFID II, we, our partners, and our members remain convinced that investors’ interests are best served when trading
occurs on an independently operated regulated market.”
Kjelle Blom, Chief Operating Officer of Optiver Europe, commented:
“The partnership is a natural fit as both Optiver and EQUIDUCT are dedicated to improving the market. EQUIDUCT’s pan-European smart order book results in better prices, while Optiver is committed to consistently providing the market with liquidity, which benefits end-investors.”
Catherine Nini, CEO of Bourse Direct, added:
“EQUIDUCT’s innovative market model guarantees the best execution for every order which is essential for our end clients. We are excited to see the platform positioned well to grow and expand their product offering to further enhance the execution quality for retail clients throughout Europe.”
Equiduct’s diverse model offers clients more than the average stock exchange. Not only does Equiduct provide an electronic Lit Order Book trading Europes most liquid instruments, but uniquely it also utilizes the fragmented liquidity across Europe to deliver a premium Best Execution service.
Equiduct’s trading model combines a vanilla central limit order book HybridBook with premium Retail (PartnerEx) and Institutional (SpotVBBO) Best Execution services, to deliver an all in one trading solution for retail and institutional investors.
Optiver, one of the investors, has recently partnered with Equiduct to offer brokers a simple, one-stop-shop solution to achieve the best execution for their European equity and ETF order flow. Optiver agreed to provide continuous liquidity in thousands of European stocks and ETFs on Equiduct against the pan-European volume-weighted best bid and offer. The service is available for both retail and institutional brokers connected to Equiduct.