TOM Smart Execution connects to BATS Chi-X Europe
As of today TOM Smart Execution is connected to BATS Chi-X Europe, adding another trading venue to the Smart Order Router (SOR) and offering clients even better execution of their equity orders. With the connection to BATS Chi-X Europe, TOM Smart Execution now compares even more available prices across different pan-European exchanges.
Willem Meijer, CEO of TOM (The Order Machine): "From the start of our Smart Order Routing business, the focus has always been on retail investors getting the best possible conditions for their order executions. Connecting our Smart Order Router to BATS Chi-X Europe promotes competition between exchanges and will therefore have positive effects for retail investors."
Koen Beentjes, CEO of BinckBank: "BinckBank congratulates TOM Smart Execution with their connection to BATS Chi-X Europe. We support all efforts that lead to more competition between exchanges, making market spreads tighter and thus lead to better prices for retail investors."
Mark Hemsley, CEO of BATS Chi-X Europe: "We are very happy to welcome TOM (The Order Machine) as the latest member to our equity trading venue. This connection confirms our position as Europe's leading equities exchange and we are pleased that TOM Smart Execution has chosen our platform to strengthen their best execution service."
About TOM (The Order Machine)
TOM is a trading venue in The Netherlands offering equity and options trading and aiming at optimal competition between markets. To be able to guarantee best execution of client orders, TOM developed a search engine (‘TOM Smart Execution') which compares prices, faster than a blink of an eye, between markets. The client's order is executed at the trading venue showing the best available price at that moment. TOM has established a substantial market position in equity and options trading. The shareholders of TOM are: ABN AMRO Bank, BinckBank, IMC, Nasdaq OMX and Optiver.