BinckBank announces: TOM granted MTF licence from AFM


BinckBank announces: TOM granted MTF licence from AFM

 

TOM B.V., The Order Machine, has received a license from Dutch regulator AFM for operating a Multilateral Trading Facility (MTF) in cash equities.

 

TOM is a joint venture of BinckBank and Optiver.

 

Further details, see the TOM press release.

 

 

 

About BinckBank N.V.

 

BinckBank is an online bank for investors, ranked in the top five in Europe. As an online broker, it offers its clients fast, low-cost access to all the important financial markets around the world. As an online bank for investors, BinckBank helps its clients look after their capital with BinckBank's online asset management services and online savings. BinckBank offers its professional clients fast, low-cost order execution and administrative processing of securities and cash transactions, in the form of insourcing (client BPO) or licensing of the appropriate software.

 

BinckBank is an independent online bank for investors, which is listed on Euronext Amsterdam. We have offices in the Netherlands, Belgium, France and Spain. BinckBank has 620 employees at end of 2009. Our operations are split into two business units: Retail and Professional Services. BinckBank was formed in 2000 and has now more 360,000 account holders.

 

Public Relations:

Harmen van der Schoor

t: +31 (0)20 522 03 78

e: hvdschoor@binck.nl

 

Investor Relations:

Anneke Hoijtink

t: +31 (0)20 522 03 72

e: ahoijtink@binck.nl

 

BinckBank N.V.

Vijzelstraat 20

1017 HK Amsterdam

www.binck.com

 


 

 


 

 

PRESS RELEASE

 

 

Amsterdam, April 6, 2010

 

 

TOM now also open for third parties

 

 

TOM B.V., The Order Machine, has received a license from Dutch regulator AFM for operating a Multilateral Trading Facility (MTF) in cash equities.

 

 

By obtaining this license other market participants in addition to the founders of TOM, BinckBank and Optiver, will be able to connect to the trading platform of TOM.

CEO Willem Meijer: ″Obtaining the MTF-license from the AFM is an important milestone for TOM. Banks, brokers and liquidity providers can now join our platform. They will obtain access to excellent liquidity at significantly lower transaction costs."

TOM expects to act as MTF in derivatives before the end of this year.

 

 

About the TOM group

TOM (The Order Machine) consists of a cost efficient, transparent and open trading platform (TOM MTF) and a "search engine" which indentifies best execution opportunities on various exchanges and trading platforms (TOM Smart Execution).

For investors TOM Smart Execution searches for the best prices on various trading platforms and exchanges among which TOM's own platform, TOM MTF.

TOM introduces the required MiFID "best execution" of securities transactions for its customers and it enhances the required competition between exchanges and alternative trading platforms. Ultimately this has to result in better execution prices for investors as well as in lower transaction costs.

TOM is a joint venture of BinckBank and Optiver.

 

MTF

MTF is the abbreviation of Multilateral Trading Facility. This is a new kind of trading platform for securities. European legislation MiFID, introduced in 2007, requires "best execution" for investors as well as competition between exchanges and alternative trading platforms. the introduction of MTF's in the European securities trading arena has assisted in reaching these goals.

 

 

For more information

Carl Byoir & Associates

Edwin van Wijk

+31 (0)20 - 642 79 09

+ 31 (6) 55 86 79 01

evwijk@carlbyoir.com


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BinckBank announces: TOM granted MTF licence from AFM