Trading on MTF
The start of trading DRs on an MTF subjects Triodos Bank to the so-called Market Abuse Regulation, restricting activities which could be seen as market and/or price manipulation. Therefore, Triodos Bank must refrain from commenting on MTF developments and use periodic, well known communication moments, like the publication of financial results.
With the MTF functioning now for nearly half a year, we recognize that tradability needs to be enhanced. However, we can only influence this indirectly through the performance of the bank, the platform and engagement with investors within the means permitted. In this context, it remains pivotal for Triodos Bank to work on enhancing and growing its business activities as much as possible, making a positive impact and achieving good financial results.
In the meantime, Triodos Bank continues to work with Captin (MTF platform provider) on enhancing the experience of trading on the MTF, including the onboarding process, presentation of the order book and the recently introduced publication of a provisional trading price.
At the time of the listing, Triodos Bank stated that it will initiate an evaluation of the restoration of the trading of the DRs on the MTF. Now, after almost 6 months of trading and experience with the trading platform, Triodos Bank has commenced this evaluation process. The evaluation will focus on trading price formation, trading liquidity, operational performance of the MTF and accessibility to the MTF.
Different stakeholders have been invited to provide input for the evaluation. Furthermore, as part of the evaluation, all DR Holders will be invited in the second half of January 2024 to participate in an online questionnaire that will be executed by an external independent renowned party.
Based upon the outcome of the different elements of the evaluation, the Executive Board of Triodos Bank will draft its own evaluation and the intention is to present the conclusion of the EB and MTF evaluation at the Annual General Meeting in May 2024.