Nasdaq joins with Citi in European stock routing

LONDON, Sept 1 (Reuters) - Nasdaq OMX Europe, a cash equity trading platform set up by transatlantic exchange group Nasdaq OMX (NDAQ.O), said on Monday it had entered into a partnership with Citi (C.N) to provide routing broker services. Nasdaq OMX Europe, which plans to open on Sept. 26, will be the first pan-European trading venue, or so-called multilateral trading facility (MTF), to offer order routing based on the best bid/offer in Europe, although there is no such requirement under the new European Union trading rules MiFID.

"By partnering with Citi we will offer efficient, fast, and low-cost routing through Nasdaq OMX Europe to European markets and other MTFs," said Charlotte Crosswell, president of Nasdaq OMX Europe.

The partnership means Nasdaq OMX can now draw on Citi's membership of European exchanges and MTFs.

Nasdaq OMX Europe will start trading 25 of UK FTSE 100 stocks on Sept. 26. The remainder of the FTSE 350 and 20 Nordic stocks will be added on Oct. 3, and 15 Euronext stocks on Oct. 10. (Reporting by Daisy Ku; Editing by Quentin Bryar)