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Virt-X plans to launch a Europe-wide market for blue-chip equities in June.
Virt-X, for instance, offers a "multi-settlement" system that encourages a certain amount of competition on price between Euroclear, Crest and SIS, the three big settlement agencies.
Virt-X, as the new exchange is called, aims not only to dominate trading in Swiss shares, but also to grab a big share of pan-European trading.
Virt-X's chief executive, Antoinette Hunziker-Ebneter, insists that her new exchange is different.
The exchange plans to change its name to virt-X.
Both Euronext and virt-x have unified clearing and settlement.
Similar(28)
Liquidity in most Swiss blue-chips is all but guaranteed (it was the big Swiss banks dominating trading on the SWX that had insisted on the move to London).Virt-X can also charge lower fees for cross-border trades, thanks mainly to its "straight-through" processing its handling of clearing and settlement through special deals with European settlement agencies.
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