Aquis Exchange for best execution

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Best prices, high-quality liquidity and unique subscription-based fees

MiFID II will strengthen the ‘best execution‘ requirement, obliging firms to take ‘all sufficient steps’ to achieve the best possible trading results for their clients. Among the factors firms will need to take into account when implementing best execution are price, speed and costs. All are categories in which Aquis Exchange, a Colt PrizmNet provider, excels.

Aquis, an independent, pan-European cash equities exchange, was set up to introduce fresh competition and encourage market growth. Aquis operates an innovative subscription pricing model, whereby users pick a usage band (based on message traffic) and then pay a fixed monthly fee. This is much like the connectivity fee already paid by banks and brokers to other exchanges. But unlike other exchanges, there are no other transaction costs associated with the trade. The top band offers unlimited usage, where the marginal cost of business is zero. So the more you use Aquis, the less you pay per message/transaction.

Capital markets participants can access Aquis Exchange via Colt’s financial extranet, to take advantage of a venue which:

  • Regularly has the best prices available in the market (statistics from LiquidMatrix)
  • Shown to be the least toxic lit venue in Europe (statistics from LiquidMatrix)
  • Is the cheapest and fairest exchange in Europe as a result of the subscription pricing model

Aquis Exchange is Europe’s cheapest, fairest and least toxic exchange. We want it to be as easy as possible for firms to make Aquis part of their best execution strategy. We work with Colt PrizmNet as an access provider because it’s a big, well established market player that simplifies connectivity to Aquis for the global capital markets ecosystem.

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Colt Technology Services

21 March 2016

 

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