The TRADE 59 - Q1 2019 | Page 17

[ T H O U G H T L E A D E R S H I P remarkable accomplishment given the complexity and large-scale nature of the technology overhaul. We didn’t migrate from an old Euronext system to a new one. We migrated from a third-party tech- nology provider based in the US so it’s a radically different infrastruc- ture and protocol. Optiq has been live across Euronext’s trading business for almost a year now, and the new technology is truly revolutionary for block trading. Euronext has never really operated a venue like Euronext Block with the con- ditional workflow. If you’ve got clients that are sending to multiple venues using conditional order flows, with Optiq we are now much better equipped to source that liquidity than when we were using the old system thanks to improved response times. It was a strategic decision to move to a technology that we had developed ourselves, knowing that we will be able to leverage that technology to the benefit of our clients. Now that our technology is harmonised across our equities platform and primary market, it’s far easier for us to onboard clients that are already connected to the Euronext primary markets. How is Euronext seeking to further develop block trading within the SME space? We are focusing on European small and mid-cap liquidity, and these are the types of clients that are already connected to Euronext’s primary market. We wanted to create value for our existing customer base currently connected to our primary market, so that it’s easier to connect to Euronext Block. If you wanted to trade on the primary market, say a small Belgian stock on Euronext | S P O N S O R E D Brussels for example, you have the option to do LIS trades on Euronext Block via Optiq. Our approach to go out to our members and non-members and B Y E U R O N E X T ] our niche. I think that’s where we really un- derstood that we have a significant role to play in this space. It goes beyond setting up a competitor Veronica Taylor, head of Euronext Block connecting them to Euronext Block under Optiq has provided a unique small and mid-cap liquidity pool. We know that both asset platform and potentially further fragmenting the market. If you want to trade a small and mid- cap stock today, it’s hard to find a “We know that both asset managers and banks are seeking this type of liquidity which cannot be found anywhere else, but those institutions need to connect to Euronext Block to access it – that’s our niche.” managers and banks are seeking this type of liquidity which cannot be found anywhere else, but those institutions need to connect to Euronext Block to access it – that’s genuinely efficient way of doing that. Now that we have moved onto Optiq it’s a game-changer in terms of onboarding unique liquidity that our clients can access. Issue 59 // TheTradeNews.com // 17