Nasdaq OMX to Close pan-European Equity MTF

The Nasdaq OMX Group will close its pan-European multilateral trading facility (MTF) operated by Nasdaq OMX Europe (NEURO) following an assessment of the financial prospects for the NEURO business.

The last trading day on NEURO is expected to be May 21. Nasdaq OMX will maintain its London office and data centers in London to support Nasdaq OMX trading and market data operations, running the UK power exchange N2EX and supporting the international listings business.

In a statement, Eric Noll, Executive Vice President of Nasdaq OMX, said, “Despite our best efforts, the increasingly competitive nature of the MTF space in Europe has meant that the growth of the business hasn’t reached levels necessary for us to realize our stated objectives.”

Charlotte Crosswell will continue to focus on business development issues for Nasdaq OMX in London and across Europe and will oversee the transition of NEURO customer relationships to Nasdaq OMX Nordics.

Hans-Ole Jochumsen, president of Nasdaq OMX Nordic, will continue overseeing pan-European equity trading.