XTX Markets to Opt In as a Systematic Internaliser
Leading equities liquidity provider XTX Markets announces it intends to opt-in as a Systematic Internaliser (‘SI’) following the implementation of MiFID II.
Alex Gerko, Co-CEO of XTX Markets, commented: “XTX has become a leading liquidity provider across lit EU equities markets. Although uncertainties remain about the potential market impact of the SI regime, we intend to opt in as an SI. Market participants will benefit from the high-quality liquidity we provide, as they already do in FX.
We are committed to maintaining our lit venue presence as ultimately we see lit central limit orderbook as the best market structure for liquidity providers and consumers.”
Mark Hemsley, President of Europe for CBOE, said: “XTX Markets is a leading provider of liquidity to Bats and we are delighted to be working with them as a SI technology provider.”
Alisdair Haynes, CEO of Aquis Exchange, commented: ‘XTX is a major market participant and it acting as a SI will be to the advantage of its liquidity consumers.”
*Source: Bats Global Markets: https://www.bats.com/europe/equities/market_share/index/ & XTX Markets internal volume data. Lit volumes only (excluding ‘dark’ volume, as defined by Bats in above link, & auctions).
Clients will have the ability to interact with a larger liquidity pool while minimizing market impact.
Buy-side firms can discover liquidity more efficiently and execute on Turquoise.
Appital is also partnering with Turquoise to bring bookbuilding technology to the buy side.
Flowlinx simplifies block liquidity search in emerging and frontier market equities.
LeveL ATS provides a continuous crossing platform in a dark pool environment.