April 2005 saw turnover of £51.6 bn on virt-x in Swiss Market Index (SMI) stocks, the highest since its launch in London four years ago. (The turnover in April 2001 on SWX Swiss Exchange was £ 27.4 bn.) virt-x has also diversified its business model in response to the changing needs of its members, and has implemented a trade reporting service focused on off-orderbook trading in UK securities. A number of major investment firms use the service to report between 11% and 12% of trades executed by Retail Service Providers and the platform received its 1 millionth UK trade report this month.
“virt-x has experienced a successful and interesting four years in the London market and, having grown our market share in trading SMI stocks in London, we have successfully adapted our business model to include trade reporting facilities, with increased competition in the market forcing price reductions from our competitors“ Peter Keller, CEO of virt-x commented. “As exchange consolidation takes effect throughout Europe we firmly believe that competition in the market is essential. As an integral part of the competitive exchange landscape in London weare pleased to offer an alternative solution with multiple clearing and settlement choices.“
FTSE Mondo Visione Exchanges Index:
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virt-x Celebrates Fourth Anniversary With Record Trading Volumes And One Millionth UK Trade Report
Date 22/06/2005
virt-x, the London-based securities exchange and subsidiary of SWX Group, this week marks its fourth anniversary celebrations with the announcement of recent record trading volumes and the processing of its one millionth UK trade report.
