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Equiduct is a pan-European venture created to address the sweeping changes being introduced by the Markets in Financial Instruments Directive (MiFID) with respect to European equities impacting all European investment firms from November 2007.Equiduct will offer a range of services to enable financial institutions to meet their statutory commitments to provide Best Execution and Transparency to their clients in a cost effective, integrated Europe wide single connection for trading services and execution.
Equiduct’s pan-European market data services will provide for a virtual consolidated tape which will be the reference of choice for cross-border trading.
Equiduct Regulated Market Model
Hybrid Book
Hybrid central limit order book in which orders from Participants compete seamlessly alongside firm, executable, continuous, two sided quotes for equities, with automatic quote refresh, posted by Market Makers registered in those stocks.
PartnerExSM
Offers professional investors the best price, very low cost, high speed and greatest likelihood of execution thereby allowing for all forms of weightings to be applied to these factors whilst still allowing the use of Equiduct so as to give the Best Execution result.
Market Data
Equiduct will produce a real-time feed for liquid instruments and distribute the available aggregated Best Bid and Offer prices across all relevant execution venues in Europe. In addition, Equiduct will distribute pre- and post-trade information relating to its PartnerEx and Hybrid book transactions. |
http://www.finextra.com/fullsolns.asp?id=2993
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