Friday, November 03, 2006

EASDAQ makes a comeback

This is an important postscript to my rant earlier this week on the emergence of a new pan-European exchange Equiduct.

Equiduct, is a new offering spearheaded by Bob Fuller, ex-Dresdner and the Joint Working Group on the IT implications of MiFID. Due to go live in the second quarter of next year, the Belgian-regulated electronic platform will provide pre- and post-trade services in accordance with MiFID guidelines. It aims to be a single point of connectivity European-wide for investment banks that operate as 'systematic internalisers', small exchanges or banks that want to establish their own MiFID compliant trading facilities, but don't want to make the upfront investment.

In my earlier post I mentioned that Equiduct will be based on the technology platform used by NASDAQ Europe, formerly EASDAQ. Last year EASDAQ sold the rights to its trading platform to NASDAQ in North America. Now it appears it is rising from the ashes in the guise of Equiduct.

This comment from Dr Jos B. Peeters, president of EASDAQ suggests that Equiduct is EASDAQ's latest attempt at reviving its pan-European platform (all be it an upgraded version) in response to MiFID. "We are delighted that Bob has accepted to spearhead our Equiduct initiative," said Dr Peters. "He brings a vast experience with trading infrastructure and the implications of MiFID to the table."

1 comment:

Anonymous said...

From your post one can surmise you don't like the idea of resurrecting EASDAQ, thus Equiduct is committing an offence? Why?