November 24, 2020Goldman Sachs to Launch Sigma X Europe MTF
London - 24 November 2020 - Goldman Sachs announced today its intention to launch SIGMA X Europe MTF, a multilateral trading facility regulated under MiFID, as an additional offering to its UK-based SIGMA X MTF. SIGMA X Europe MTF will be located in Paris and operated by Goldman Sachs Paris Inc. et Cie (GSPIC) and intends to launch prior to 4th January 2021, subject to receipt of all necessary regulatory approvals. Like its London counterpart, the European MTF will have both a Non-Displayed and Periodic Auction book.
SIGMA X Europe MTF will allow Goldman's clients to continue to access unique liquidity post-Brexit. SIGMA X MTF offers a superior source of liquidity, with flatter post-trade markouts and larger average execution size than competing order books, as demonstrated by third party analytics providers. The intention to launch SIGMA X Europe MTF underscores Goldman Sachs' broader commitment to servicing its clients within the European Union and to providing comprehensive liquidity solutions to its international clients.
"We want to ensure that our clients continue to have access to all of our key liquidity sources post-Brexit. SIGMA X MTF is central to ensuring we achieve the best execution for clients today. The launch of the European MTF will continue to deliver these execution benefits to all clients," said Liz Martin, Global co-Head of Futures and Equities Electronic Trading at Goldman Sachs.
SIGMA X Europe MTF will accept all European-based MiFID II regulated firms. Subject to regulatory approvals, it will launch listing European symbols across 15 markets, while the UK MTF will continue to list both UK and European symbols.
About SIGMA X MTF:
The UK-based SIGMA X MTF was launched in 2011 and is a market-leading multilateral trading facility operated by Goldman Sachs International Bank. As the second largest Periodic Auction in Europe, SIGMA X MTF offers deep and diverse liquidity, crossing flow from both external participants and the Goldman Sachs International franchise.
About Goldman Sachs:
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centres around the world. To learn more, visit www.gs.com.