First, we present the development of multilateral trading platforms through international examples in our study. In connection with this topic, we describe and compare three already operating multilateral trading markets (the Polish, English and Scandinavian markets). We present the economic and legal background of the Hungarian market and summarise the challenges the domestic SME sector has to face in terms of fundraising. Later, we introduce the participants and the operation of the multilateral trading market through the Hungarian example known as BSE Xtend.
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