The service offering will provide QUBE clients with a white-labelled, hosted trading platform, regulated as a Multilateral Trading Facility (MTF). QUBE will empower financial institutions to concentrate on the business of trading, rather than on building and maintaining the technology infrastructure. Clients will select from a Model A or Model B service, depending on whether they leverage Quote MTF’s regulatory license or their own. Firms may then tailor their MTFs with different transparency levels, matching mechanisms, and fee models. QUBE will also offer online analytics, surveillance and the client’s choice of hosting environment segregation.
Tamas Madlena, Quote MTF CEO, comments: “It is incumbent on the brokerage community to leverage technology to continue to supply customers with choice. Quote MTF’s QUBE outsourced service model will assist organisations of any size to launch and operate a regulated trading venue. QUBE brings expertise to help navigate exacting crossing regulations, while practitioners deliver a fully integrated Enterprise-class turnkey operations solution. An extremely efficient business structure means a highly competitive charging model compatible with market conditions and the client’s potential revenues.”
The solution is based on Thymex, a high performance and scalable matching engine used globally to operate exchanges. The fastest matching system in Europe, Quote MTF has a flawless record having utilised the engine to trade more than €7bn since launch in April last year, while the platform has also been operating in Canada’s Omega ATS since 2009.
Madlena continues: “We have also seen keen interest in outsourcing from existing venues that can no longer justify the overhead of operating a platform. Centralising many of these venues also creates critical mass, allowing exchange subscribers to reduce technology costs and access more venues through fewer channels.”