TOM, the order machine, announces that ABN AMRO Clearing Bank N.V. (ABN AMRO) will acquire a 25% stake in the share capital of TOM. The transaction is subject to the approval of relevant supervisory authorities.
In effect of the transaction ABN AMRO will acquire a 25% stake in TOM. Currently acting as the clearing party for transactions carried out through TOM, ABN AMRO may also opt to route its order flow of equities and derivatives via TOM. In addition to Optiver and BinckBank, who currently represent TOM’s supervisory board, ABN AMRO may also appoint a member.
Willem Meijer, CEO of TOM: “It has always been our intention to give third parties access to TOM, both as a member and/or as a shareholder. I am delighted that ABN AMRO will join TOM as a shareholder as it reflects their confidence in TOM’s future. I believe this confidence, also to be an important signal in the market.”
TOM expects to start trading Dutch equities on TOM MTF in the near future. At present, the request to extend its MTF-license in the area of derivatives is under consideration with the supervisory authorities. In the meantime, TOM is actively talking to other market players including banks, brokers and market makers.
Once TOM MTF is fully operational trading Dutch equities, EMCF; Europe’s largest cash equities clearing company, will act as central counterparty (CCP), guaranteeing delivery and payment of equity trades.
