TOM on liquidity

Trading venue TOM (The Order Machine) has published a report analyying liquidity on the various exchanges listing Dutch equity derivatives, in preparation for the introduction of MiFID II starting in 2017.

MiFID II will oblige banks and brokers to take all “sufficient” steps in order to achieve the best possible result when executing option transactions for customers. As part of this process, the bank or broker needs to decide on which exchanges it makes available to its customers and publish annually the top five list of exchanges on which orders have been executed.

To support the market, TOM’s report (based on independent research conducted by Markit, a Nasdaq-listed, leading global provider of financial information services) demonstrates which exchange offers the most favourably priced liquidity per option series.