As of today, TOM (The Order Machine) offers best execution in Exchange Traded Funds (ETFs) with the product scope now consisting of equities, options and ETFs.
This is a unique approach in Europe and clients can benefit from using a single TOM connection to trade a wide range of products while receiving best execution in all those financial instruments according to MiFID requirements.
Willem Meijer, CEO of TOM said: “We are continuously looking for possibilities to expand our product offering and are therefore very pleased to add ETFs to our range of tradable instruments. We plan to expand the number of ETFs tradable via TOM in the near future as the market has seen significant growth in this asset class.”
Martijn Rozemuller, Managing Director of Think ETFs added: “As the first Dutch issuer of ETFs we feel that this is a very positive development for the investor. ETFs are playing an increasingly important role in the market for investment products in the Netherlands, mainly due to the overall low costs of the product. The best execution mechanism of TOM has the ability to reduce the already low costs of trading even more.”
TOM is a trading venue in that offers equity and options trading and aims at optimal competition between markets. To be able to guarantee best execution of client orders, TOM developed a search engine (‘TOM Smart Execution’), which quickly compares prices between markets. The client’s order is executed at the trading venue showing the best available price at that moment. TOM has established a substantial market position in equity and options trading and boasts shareholders including ABN AMRO Bank, BinckBank, IMC, Nasdaq OMX and Optiver.