A significant investment was by Citadel Securities in Equiduct in July 2009, resulting in an electronic trading platform capable of providing execution services on a large scale to market makers and order flow providers, in a cost-effective manner. Products offered by Equiduct Trading include HybridBook, PartnerEx and Orange VBBO (volume-weighted best bid and offer). As stated on their website, Equiduct’s quest is to turn its clients’ MiFID obligations into opportunities. MiFID (Markets in Financial Instruments Directive) is a European Union law outlining extensive requirements to regulate investment intermediaries and financial markets. Equiduct aims to offers clients superior service based on price, cost, speed and likelihood, whatever their role in trading may be.
Equiduct is operated by Börse Berlin, a regulated market, and is therefore compliant with fair and orderly trading as laid out by the Market Surveillance, the Exchange Supervisory Authority and the Federal Financial Supervisory Authority. Börse Berlin has the authority to take action immediately against suspected or actual malpractice. This keeps the market open and transparent, to the benefit of all legitimate stock market traders.