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Nasdaq OMX Europe Strikes Order Routing Deal with Citi

Under MiFID, it will become first MTF to offer Pan-European order routing.

Nasdaq OMX Europe entered into a partnership with Citi to provide order routing services, giving customers access to multiple pools of liquidity across Europe.

In the rapidly evolving post-MiFID landscape, Nasdaq OMX Europe is seeking to become the first MTF (multi-lateral trading facility) to offer a pan-European order routing service.

Citi will supply its intelligent high-speed execution platform including the Neonet XG Market Gateway product, according to the release.

Citi provides "market-leading electronic execution products for both the buy-and sell-side and has been selected as the routing broker for Nasdaq OMX Europe," the release further stated.

By partnering with Citi, Nasdaq OMX Europe aims to offer "efficient, fast and low-cost routing through Nasdaq OMX Europe to European primary markets and other MTFs," stated Charlotte Crosswell, president of Nasdaq OMX Europe, in the release. "We will offer participants the ability to access markets throughout Europe through a single connection," Crosswell added.

Nasdaq OMX Europe is scheduled to launch this month.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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