Swiss Regulator Approves Galaxy as Foreign Exchange
Galaxy MTF, an organized multilateral trading facility (MTF) for European bonds, has received regulatory approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a foreign exchange in Switzerland, allowing local investors to access Galaxy.
The Galaxy bond trading platform accepts only firm orders and aggregates them in a global order book with prices accessible to all participants. Post-trade information and transaction records are made available publicly.
Galaxy is also equipped with a sophisticated compliance-monitoring system, which checks trading activity in real-time to help safeguard against possible market distortions.
Jean-Philippe Malé, CEO of Galaxy MTF, says the firm will continue to expand its reach in the coming months to ensure Galaxy remains the premier destination for the efficient, liquid, and transparent exchange of European bonds.
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