OES MarketGroup, the leading independent provider of routing and linkage services to the securities industry, today announced the formation of OES MarketGroup Europe, designed to be the first truly independent pan-European financial service provider linking European securities exchanges and newly emerging liquidity pools.
OES said it plans to introduce and implement a new pan-European routing platform that will connect major trading centers in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom through a routing system that includes equities and derivatives. The launch of the routing platform is subject to regulatory approval anticipated by the end of the year.
“By deploying our high performance order routing and linkage to exchanges, new trading venues and dark pools, OES plans to be a major factor in helping to revolutionize European trading,” said David Scheckel, chief executive officer of the OES MarketGroup.
OES ‘Uniquely Positioned to Serve European Market Participants’
“European capital markets have been undergoing a transformation to a more seamless trading environment, similar to the changes experienced in the U.S. in recent years,” Mr. Scheckel said. “OES will leverage its experience as the leading U.S. routing and linkage provider in serving the needs of our European clients in the wake of sweeping regulatory changes under MiFID, the Markets in Financial Instruments Directive in place in the European Union since last November.
“By implementing our ultra-fast, neutral and highly scalable technology platform, the new OES MarketGroup pan-European offering will serve to set a new standard for routing and cross border trading in the European equity and derivatives markets,” he said.
Peter Keller Named Managing Director of OES MarketGroup Europe
Concurrent with the announcement of its entry into the European securities marketplace, OES named Peter Keller as managing director of OES MarketGroup Europe. Prior to joining OES, Mr. Keller was CEO of virt-x (renamed SWX Europe), a leading cross-border trading platform for trading in Swiss and European blue chip securities formed in 2001.
“We are delighted to have Peter Keller join OES to lead our efforts in Europe,” Mr. Scheckel said. “Peter brings to bear his experience in building and running virt-x, as well as his extensive knowledge of the European marketplace. Because OES is a technology company at our core, Peter is an ideal addition to our team as he fits the OES profile of being a high caliber, energetic leader with a hands-on technology background.”
Mr. Keller called joining OES and leading the launch of OES MarketGroup Europe “a great opportunity to join a world-class team of experienced securities professionals and to help transform the European trading landscape.”
“OES,” he said, “has achieved a leadership position and an excellent reputation as a pioneer in the U.S. securities industry,” Mr. Keller said. “Now we fully intend to leverage that success and become the leading routing and linkage provider in the European securities marketplace.”