Capital Partners and Quote MTF to Launch New Spanish Venue

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Spain-X will attempt to take on the BME, despite a depressed market for MTFs in Europe at the moment.

The new MTF, named Spain-X, will build on Quote MTF's Qube hosting and crossing technology. The launch comes months after Pave, a highly-touted Spanish MTF, was forced to postpone its own launch after citing challenging market conditions.

Bolsa y Mercadores Espanoles (BME) is currently the market leader in Spain, enjoying a practical dominance of equities trading in the country's markets, which have around 1 trillion (approximately $1.3 trillion) in annual volumes.

"This is about bringing much needed competition to Spain while ensuring that domestic participants are engaged in strategy, benefit from value created and that domestic interests are protected," says Claudio Rojas, senior director at Capital Partners Group.

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