Pan-European equity exchange Equiduct has expanded its reach into the US by launching US equity trading on Apex, an exchange best execution service with no trading fees for retail investors. The launch offers more than five million retail investors access to 21 highly traded US stocks, denominated in euros, and is backed by liquidity providers Optiver and Virtu Financial.
“US equities make up the bulk of any European retail investor’s portfolio – over 60% at one point. This makes access to the US market the most important project for European retail brokers.
“US equities make up the bulk of any European retail investor’s portfolio – over 60% at one point. This makes access to the US market, with optimized cost and configuration, the most important project for European retail brokers,” Wail Azizi, chief strategy officer at Equiduct, told The TRADE.
“Now, retail brokers offer two ways to trade U.S. stocks: in USD or EUR. Today’s launch brings the best no-fee execution on 21 names in EUR, cleared and settled in Europe, to more of 30 brokers connected to Equiduct.
In 2023, the company also plans to offer US dollar transactions with clearing and settlement in the United States. It matches its European expansion plans – in addition to US equities, it is also launching in the Nordic markets (Sweden, Finland, Denmark and Norway) in two months.
“We have just opened an office in Stockholm which is expected to serve as a regional hub for Equiduct and we are excited to offer the best commission-free execution to Nordic retail investors and expand the existing model we offer today to over five million retail investors across Europe,” Azizi revealed to The TRADE.
Last year, Equiduct also launched equity ETFs and plans to announce next month the expansion of more than 350 ETPs, including exciting thematics and new asset classes, according to Azizi.