NYSE Euronext to launch platform for European retail investors
New York exchange NYSE Euronext is set to launch a platform designed for European retail investors.
Dubbed ‘Retail Matching Facility’ (RMF), the platform is expected to launch in January and will deliver buy and sell quotes for retail investors.
The platform will be MIFID compliant, and all transactions will be identified appropriately and quotes from RLPs will be broadcast.
Nyse Euronext member banks and brokers will be able to execute retail order flow via the RMF and they won’t need to invest in new connections as they will be able to use their existing access to regulated cash markets, the exchange said.
The retail liquidity providers will trade with the retail orders exclusively according to the ordinary price-time priority principle, in full competition with each other and the central order book itself.
“The aim of NYSE Euronext’s Retail Matching Facility is to promote a more competitive, transparent environment for retail investors than they currently achieve through bilateral, internal arrangements with intermediaries,” NYSE said.
Meanwhile, the exchange said today it intends to work with the Bank of China to leverage on the growth of the Chinese currency renminbi, jointly developing renminbi-denominated financial products.
The two institutions will explore the potential for RMB to be used as collateral for NYSE Euronext’s new London Central Counterparty.