Quote MTF, a next-generation, lit trading venue for pan-European equities, has purchased all the shares of former chairman Peter Beck, Financial Times reports. Beck held a 60 percent shareholding in the Hungarian company through a holding company BRMS Holdings, which owns Canadian day-trading company SwiftTrade.
The move comes after SwiftTrade was fined £8 million by the U.K.’s Financial Services Authority for trading abuses. Earlier this year, the remaining 40 percent of Quote MTF was offloaded to a group of liquidity providers.
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Financial Times Peter Beck BRMS Holdings Hungarian U.K.