Multilateral Trading Facilities (MTFs) are electronic trading platforms that enable multiple buyers and sellers to meet and trade financial instruments. These facilities operate under the oversight of regulatory bodies and are designed to provide transparency, efficiency, and lower transaction costs to market participants. MTFs offer trading in a wide range of financial instruments, including equities, bonds, currencies, and derivatives.

MTFs operate using a non-discriminatory access model, where all market participants have equal access to trading opportunities. MTFs differ from traditional exchanges as they are not limited to trading securities listed on specific exchanges. This provides traders with a greater range of investment opportunities and can lead to improved liquidity and price discovery.

MTFs have become increasingly popular in recent years, as they provide a cost-effective alternative to traditional exchanges. However, they are subject to the same regulatory requirements as traditional exchanges, and failure to comply with these regulations can result in fines or even the closure of the facility.

A Multilateral Trading Facility (MTF) is a regulated trading platform that brings together multiple buyers and sellers to trade financial instruments like stocks, bonds, and derivatives. Unlike traditional stock exchanges, MTFs are typically operated by investment firms or banks and offer an alternative marketplace for securities trading. They promote competition by providing faster execution, lower costs, and increased liquidity. MTFs operate under strict financial regulations (such as MiFID II in the EU) to ensure transparency and fairness. Examples include Turquoise (LSE Group) and Chi-X Europe. Unlike Systematic Internalizers (SIs), which facilitate trades internally, MTFs match orders multilaterally, ensuring price discovery through open order books. They are popular among institutional investors and high-frequency traders seeking efficient, low-latency trading environments.