The Company
Locations
BinckBank and Optiver launch TOM
The Netherlands Authority for the Financial Markets (AFM) has given TOM - The Order Machine, a 50/50 joint venture between BinckBank and Optiver, a broker licence. TOM is a combination of a Best Execution Service, focusing on the best execution for equities and a venue, able to facilitate the matching of buy and sell orders in an advantageous and transparent manner. The first transactions will be executed via TOM this summer.
TOM’s Best Execution Service compares the prices of AEX and AMX shares on both NYSE Euronext and on the in-house platform. TOM then executes equity orders at the best price. Eventually, TOM’s goal will be to offer this service for options as well. Furthermore, TOM would like to become a Multilateral Trading Facility (MTF) within two years at most, but preferably sooner. The final situation envisages that TOM will scan several stock exchanges and trading platforms quickly and efficiently in order to find the best execution. Moreover, other banks and liquidity providers have been invited to participate in the future.
Pieter Aartsen, board member at BinckBank: “Since the start of BinckBank, our mission has been to provide private investors with the same opportunities as professional parties. Over the past year and a half, we have seen the appearance of alternative stock exchanges and new trading platforms. Unfortunately, these were not accessible to private investors. In using TOM, we are no longer looking only at NYSE Euronext but are also searching these new platforms for the best execution possible; first of all on TOM’s platform and in the future on other platforms too, such as e.g. Chi-X. This assures Binck and Alex’s clients the best execution price for their equity orders.”
Jelle Elzinga, director of Optiver: “TOM charges lower costs than the traditional stock exchanges. As a result, liquidity providers, like ourselves, are in a position to provide better bid and offer prices. This encourages competition between traditional stock exchanges and alternative trading platforms. Ultimately, it is the end-investor who will benefit from this.”
For more information about TOM (The Order Machine) visit www.tomtrading.eu
BinckBank N.V.
BinckBank N.V. is a full-service online bank for investors and is among the top 5 in Europe. As
an online broker, BinckBank offers its clients fast and low-cost access to all of the world’s major financial markets. Moreover, as an investment bank, BinckBank offers support to its clients concerning management of their assets by providing online advice and asset management services plus online savings. In addition to the fast and low-cost execution of orders, professional clients are also offered the administrative processing of securities and cash transactions either by means of an insourcing variant (BPO) or the licensing of the software concerned.
BinckBank is the largest, independent Dutch online investment bank with a listing on NYSE Euronext Amsterdam. The business has branches in the Netherlands, Belgium, France and Spain and, as of 31 December 2008, had 559 employees.
BinckBank was founded in 2000 and at the end of Q1 2009 was serving more than 300,000 investors and savers. BinckBank’s operations are handled by two business units: Retail and
Professional Services.
Optiver
Since being founded in Amsterdam in1986, Optiver has grown to become one of the world’s leading liquidity providers. Optiver’s long-term strategy is focused on being active on a large number of (traditional and alternative) trading platforms in listed shares, bonds, foreign currency, futures contracts and derivatives.
Optiver subscribes to the objectives of the European Markets in Financial Instruments Directive (MiFID), striving for markets that are as transparent and efficient as possible. At present, Optiver has offices in Amsterdam, Chicago, Hong Kong, Sydney and Taipei, thus covering all time zones, enabling trading 24 hours a day.
Optiver operates in the Netherlands and in the rest of Europe as a liquidity provider and provides bid and offer prices on a variety of stock and derivatives exchanges. Optiver is active on NYSE Euronext Amsterdam in the area of derivatives trading as a Primary Market Maker and as a Competitive Market Maker. Additionally, Optiver is one of the largest players in the NYSE Euronext Cash segment (equities) and is active on all the other European equities and derivatives platforms, such as the London Stock Exchange, Xetra, Eurex, Virt-X and Chi-X.
Trading in the United States is conducted entirely from Chicago. The US office is active on the derivatives exchanges of CBOT, NYSE Arca, CME, ISE, CBOE and BOX but also trades on US stock exchanges such as NYSE and NASDAQ.
Optiver is one of the biggest players on the Australian options market. With offices in Sydney, Hong Kong and Taipei, the company also trades on the Hong Kong, Taiwanese, Japanese and Korean financial markets.
Worldwide, Optiver has in excess of 600 employees continually striving to offer the best price to end-investors.
Press briefings at BinckBank: Press briefings at Optiver:
Anneke Hoijtink Hill & Knowlton Nederland
Manager Investor Relations Tanno Massar
+31 (0)20 522 0372 +31 (0)20 404 4707
pers@binck.nl tmassar@hillandknowlton.com