Cross-asset liquidity provider XTX Markets (XTX) announces it has chosen Paris as its post Brexit EU hub.

XTX has filed an application with the Autorité de Contrôle Prudentiel et de Résolution, the French regulator, to operate a regulated firm in France.

As one of the largest liquidity providers in European equities with a passive market share of continuous trading volumes on lit Pan-European equity venues of over 11.50%* and being the 3rd largest FX liquidity provider globally**, XTX is opening an office in Paris as part of its preparation for the United Kingdom’s exit from the European Union. XTX is committed to maintaining and further developing its liquidity provision to clients, platforms and exchanges across the European Union.

Zar Amrolia, Co-CEO at XTX Markets, said: ‘’As a leading liquidity provider across asset classes globally, it was important to select a location with a strong regulatory environment within which to operate. The French regulators have been very receptive to having a leading market maker such as XTX establish in France and we look forward to working with them to bring even more transparency and efficiency to markets across Europe.’’

XTX has applied to the French regulators to be authorised as an investment firm to trade across asset classes and also to operate a systematic internaliser in European equities. This will allow XTX to continue to build on its successful systematic internaliser offering and ensure its European clients can continue to access XTX liquidity.

XTX’s headquarters will still remain in London.

Source: XTX

*Sourced from CBOE website: https://markets.cboe.com/europe/equities/market_share/index/ & XTX’s own making (liquidity adding) volume figures (Q1-3 2018)
**Sourced from Euromoney’s 2018 FX survey