1
Equities are much too fragmented and OTFs would have introduced another layer of fragmentation, Hardt said.
2
The United States has finalised rules for its own version of OTFs to rival existing exchanges.
3
The aim of OTFs is to provide a platform for diverse instruments currently traded off an exchange.
4
The OTF plans are part a draft EU securities law to reform the current markets in financial instruments directive or MiFID.
5
London, however, is likely to emerge a winner as home to OTFs, just as it is did to alternative share trading platforms.
6
This would force shares currently traded off an exchange to move on to bourses or similar platforms that are more heavily regulated than OTFs.
7
Exchanges argue there is no need for a new OTF category and that contracts should be channelled to the existing, more strictly platforms like themselves.
8
The planned new breed of Organised Trading Facility (OTF) platform for trading contracts currently handled between banks should be limited to non-equities, meaning mainly derivatives.