Equiduct, the retail-focused pan-European exchange, announced today that Fineco Bank is Apex’s newest trading member. Fineco is Italy’s largest retail broker and one of Europe’s leading online platforms. Apex will provide them access to trading across 11 European markets and over 1500 stocks under one platform, whilst delivering guaranteed Best Execution.
“We are delighted to welcome Fineco to Apex. This is a significant milestone for the development of Equiduct’s footprint in Italy. The unique features and commercials of Apex will not only deliver guaranteed Best Execution to Fineco but also provide them with a unique competitive advantage in terms of execution costs and cost effective access to pan-European market data”, says Dave Murphy CEO of Equiduct.
Launched in November 2019, Apex is the first commission-free, on-exchange trading service for retail orders in Europe. It guarantees Best Execution by automatically calculating the best possible price for each order at the instant at which a trade occurs. Retail orders submitted to Equiduct will trade against a pool of liquidity providers as well as other brokers present in the order book (full multilateral execution). Apex is pre-and post-trade transparent, delivering daily execution quality reports which provide evidence of Best Execution for each trade.
Paolo Di Grazia, Deputy General Manager & Head-Global Business at FinecoBank said: “We’ve been partners with Equiduct for many years, with great satisfaction to Fineco as well as our Italian and UK customers. We want to keep on providing high quality transactions to a broader audience of investors. That’s why we’ve decided to join Apex with its efficient and technologically advanced solutions.”
Notes to editors
Equiduct is an innovative, client driven pan-European trading venue enabling retail brokers and institutional clients to achieve Best Execution in the most liquid and fragmented cash equities and ETFs. Focused on providing solutions for our members in the post MiFID environment, Equiduct has developed unique products designed to revolutionise retail trading which facilitate order execution against the pan-European consolidated order book. Equiduct provides true pan-European trading across 11 markets covering 16 European headline indices.
Equiduct is a market segment of Börse Berlin, a regulated market operator under Article 44 of MiFID II. Börse Berlin is regulated by the Competent Authority Senatsverwaltung für Wirtschaft, Energie und Betriebe – Börsenaufsichtsbehörde and participation in trading is governed by German and European law.
Equiduct has published record activity during the first and second quarter of 2020. For more information on Equiduct, please visit: www.equiduct.com
FinecoBank is one of the most important FinTech banks in Europe. Listed on the FTSE MIB, Fineco offers a business model that is unique in Europe, combining the best platforms with a large network of financial advisors. It offers a single account with banking, trading and investment services, on transactional and advisory platforms developed with proprietary technologies. Fineco is a leading bank in brokerage in Europe, and one of the most important players in Private Banking in Italy, offering advanced and tailor-made advisory services. Since 2017, FinecoBank has also been in the UK with an offer focused on brokerage, banking and investment services. Fineco Asset Management was founded in Dublin in 2018, with a mission to develop investment solutions in partnership with top international asset managers.
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