The Swiss Financial Market Supervisory Authority has granted approval to Galaxy MTF to operate as a foreign exchange in Switzerland. The approval will enable local investors to access the multilateral trading facility for European bonds.

The Galaxy bond trading platform admits only firm orders and aggregates them in a global order book with prices accessible to all participants. The MTF also has a generation-compliance monitoring system, which checks trading activity in real time to help safeguard against possible market distortions.

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Institutional Investor - October 7, 2011