Market Model

VBBO (Volume weighted Best Bid and Offer) - a proprietary real-time feed for liquid instruments derived from the best bid and offer prices from all significant execution venues in Europe. VBBO will be available from April 2008.

HybridBook - a Pan-European central limit order book with orders competing alongside firm, executable two-sided quotes posted by PartnerEx market makers registered in those stocks.

PartnerEx - A unique cross-border B2B bilateral agreement. PartnerEx will always provide MiFID Best Execution results across the venues being monitored for the VBBO.

Market Model Description is available from info@equiduct-trading.com