As of today, a new market making model will come into effect on the Vienna Stock Exchange. In addition to the existing Market Maker, the "Best Bid and Offer" Market Maker (BBO Market Maker) will be introduced in the top segment prime market. The previous Specialist-role will be replaced. Market makers are trading participants who provide additional liquidity in the order book with binding buy and sell bids and ensure execution at market prices. The new BBO Market Maker commits to offering bids at the best available prices – at the top of the order book. Already three well-known market makers (HRTEU Limited, Tower Research Capital Europe BV and XTX Markets SAS) have decided to participate. The aim is to further narrow the spreads and thus to increase the attractiveness of Austrian shares on the Vienna trading venue. Both retail
"The Vienna Stock Exchange should remain the most attractive marketplace for Austrian equities. Price and order book quality are the decisive factors. In terms of market design, we are following international standards. Similar liquidity provider models are in place at important European trading venues. Market making is evolving over the years and the Vienna Stock Exchange moves with the times," explains Christoph Boschan, CEO of Wiener Börse AG.