Budapest bourse to adopt Xetra trading platform in December

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The Budapest Stock Exchange will introduce the Xetra trading system on its spot market on December 6, replacing the MMTS I system, CEO Zsolt Katona said on Thursday. The bourse's shareholders approved the replacement of the system and the introduction of a market maker model at a general meeting in April 2012. “Through connecting to the Xetra network the Hungarian market will be more accessible for the international investors while the new market maker model will help creating additional liquidity and will enhance the quality of the market,” the BSE said at the time. Katona said on Thursday that the bourse's “A” and “B” categories would be replaced with “Premium” and “Standard” categories, and a new category would be introduced for shares that were listed for technical reasons and generate minimal turnover. He added that there were plans to introduce a separate multilateral trading facility for SMEs. Katona said the MMTS would continue to operate on the bourse's derivatives market.

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