BinckBank announces: TOM welcomes ABN AMRO as new
(Thomson Reuters ONE) -
BinckBank announces: TOM welcomes ABN AMRO as new shareholder
TOM, The Order Machine, announces that ABN AMRO Clearing Bank N.V. (ABN AMRO)
will acquire a 25% stake in the share capital of TOM.
TOM is a joint venture of Optiver, BinckBank and ABN AMRO.
Further details, see the TOM press release.
About BinckBank N.V.
BinckBank is an online bank for investors, ranked in the top five in Europe. As
an online broker, it offers its clients fast, low-cost access to all the
important financial markets around the world. As an online bank for investors,
BinckBank helps its clients look after their capital with BinckBank's online
asset management services and online savings. BinckBank offers its professional
clients fast, low-cost order execution and administrative processing of
securities and cash transactions, in the form of insourcing (client BPO) or
licensing of the appropriate software.
BinckBank is an independent online bank for investors, which is listed on
Euronext Amsterdam. We have offices in the Netherlands, Belgium, France and
Spain. BinckBank has 526 full time employees at end of 2009. Our operations are
split into two business units: Retail and Professional Services. BinckBank was
formed in 2000 and has now more 390,000 account holders.
Public Relations:
Harmen van der Schoor
t: +31 (0)20 522 03 78
e: hvdschoor(at)binck.nl
Investor Relations:
Anneke Hoijtink
t: +31 (0)20 522 03 72
e: ahoijtink(at)binck.nl
BinckBank N.V.
Vijzelstraat 20
1017 HK Amsterdam
Press release
PRESS RELEASE
Amsterdam, 13 July 2010
TOM welcomes ABN AMRO as new shareholder
TOM, the order machine, announces that ABN AMRO Clearing Bank N.V. (ABN AMRO)
will acquire a 25% stake in the share capital of TOM. The transaction is subject
to the approval of relevant supervisory authorities.
In effect of the transaction ABN will acquire a 25% stake in TOM. Currently
acting as the clearing party for transactions carried out through TOM, ABN AMRO
may also opt to route its order flow of equities and derivatives via TOM. In
addition to Optiver and BinckBank, who currently represent TOM's supervisory
board, ABN AMRO may also appoint a member.
Willem Meijer, CEO of TOM:
"It has always been our intention to give third parties access to TOM, both as a
member and/or as a shareholder. I am delighted that ABN AMRO will join TOM as a
shareholder as it reflects their confidence in TOM's future. I believe this
confidence, also to be an important signal in the market."
TOM expects to start trading Dutch equities on TOM MTF in the near future. At
present, the request to extend its MTF-license in the area of derivatives is
under consideration with the supervisory authorities. In the meantime, TOM is
actively talking to other market players including banks, brokers and market
makers.
Once TOM MTF is fully operational trading Dutch equities, EMCF; Europe's largest
cash equities clearing company, will act as central counterparty (CCP),
guaranteeing delivery and payment of equity trades.
For further information:
Carl Byoir & Associates
Edwin van Wijk
+31 (0)20 - 642 79 09
evwijk(at)carlbyoir.com
About the TOM group
TOM is an initiative of BinckBank and Optiver, enabling "best execution" of
retail transactions for its clients - as required by MiFID. Simultaneously, TOM
contributes to the MiFID requirement regarding competition between trading
platforms such as exchanges and MTF's. This ultimately results in improved
execution prices for investors as well as lower transaction costs.
TOM encompasses a cost efficient, transparent and open MTF (TOM MTF) and a
"search engine", tracking the best execution prices on the various exchanges and
marketplaces (TOM Smart Execution). For retail clients of member banks, TOM
Smart Execution searches various MTF's and exchanges, including TOM's own MTF -
TOM MTF, for the best prices at which a securities order can be executed.
[HUG#1431383]
TOM welcomes ABN AMRO: http://hugin.info/130685/R/1431383/377861.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: BinckBank N.V. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 13.07.2010 - 19:10 Uhr
Sprache: Deutsch
News-ID 23850
Anzahl Zeichen: 0
contact information:
Town:
Amsterdam
Kategorie:
Business News
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