Equiduct Systems Limited has been chosen as the technology provider to PAVE, Plataforma Alternativa de Valores Españoles, Spain’s first MTF.
Using Equiduct Systems Limited’s technology, PAVE will establish both a traditional MTF and a retail-focused best execution model supported by experienced market makers.
Equiduct Systems Limited will provide the trading platform and operational infrastructure for the PAVE MTF. This will give institutional and retail brokers, banks and hedge funds the ability to provide high-quality execution at the best price offered. The partnership between Equiduct Systems Limited and PAVE will level the playing field for investors across Europe.
Peter Randall, CEO of Equiduct Systems Limited said:
“PAVE signals the beginning of the second wave of alternative platforms in Europe. The health of Europe’s trading environment is, in part, determined by the level of competition. Equiduct Systems Limited is proud to support this initiative.”
Javier Tordable Parcerisa, partner, PAVE said:
“PAVE is being established to attract international traders and increase liquidity in Spanish equities. The Equiduct Systems Limited offering is unparalleled – leading-edge technology supported by market making expertise from Citadel Securities and Knight. We are excited to partner with Equiduct Systems Limited to bring their innovative model to the Spanish marketplace.”
Kee-Meng Tan, managing director of Knight Capital Europe Limited, a wholly-owned subsidiary of, and the European headquarters of Knight Capital Group, Inc., who is the head of the Electronic Trading Group in Europe said:
“Knight has a proven track-record in providing European clients with high quality alternative liquidity through our extensive market-making operation. We look forward to expanding our services through this partnership with PAVE, as we introduce cost-effective and high quality equity execution to the Spanish market.”
Matteo Cassina, President of Citadel European Execution Services, a division of Citadel Securities said:
“Citadel Securities is excited to partner with Equiduct and PAVE to bring to the Spanish market the cost savings and improvements in execution quality that MiFID has brought to other European markets.”
