Quote MTF Board Acquires Ex-Chairman’s Shares To Sever All Ties With Swift Trade’s Peter Beck - Quote MTF Removes Association With Mr. Beck, Demonstrating Uncompromising Standards In Its Transparent And Regulated Marketplace

Quote MTF,a next generation, lit trading venue for Pan-European equities, today confirmed that its Board of Directors has severed all ties with Peter Beck, CEO of the former day trading firm Swift Trade. The Quote MTF Board had acquired Mr. Beck’s share of the Company, held by BRMS Holding, removing any association between the European regulated liquidity pool and Mr. Beck. The transaction has no effect on the 40% Liquidity Partner equity scheme which came into effect earlier this year. 
 
Christian Bower, Member of the Board, Quote MTF, comments: “While there were no executive or operational relations between Quote MTF and Swift Trade, nor any trading relationship between the two firms, Quote MTF recognises that ownership of an unregulated day trading company, with the political and regulatory exposure this brings, has proven incompatible with the high standards of independence and transparency that an exchange must observe. We wish to reassert that Quote MTF retains an unblemished regulatory record.”  
 
Commenting on the success of Quote MTF and its future in Europe’s post-MiFID world, Bower adds: “Since we launched in April this year, Quote MTF has flawlessly traded more than €7bn.  We continue now to focus on the development of our service offering, advancement of our technologies and the recruitment of liquidity providers and broker subscribers. We continue to advance our activities in Interoperability and market expansion and look forward to further driving competition throughout Europe.” 
 
The transaction is subject to regulatory approval.