24 October 2017
visit www.response.ncr.com

Turquoise goes live

15 August 2008  |  12740 views  |  0 mifid

Turquoise, the bank-backed MiFID-compliant equities trading facility established by nine investment banks, has finally gone live.

Turquoise chief executive Eli Lederman told Reuters reporters that the first trades started going through the platform at 8am.

Lederman said members would "take a while to get comfortable" with the system and volumes will be small until the first clearing and settlement cycles are completed.

The platform is initially offering trading in just 10 stocks - five each from the UK and Germany. The system will be extended to 1300 stocks across 13 European markets in the next few weeks.

The launch follows news earlier this week that rival ATS Chi-X Europe saw its market share in FTSE 100 stocks hit 20%. Chi-X Europe has steadily increased its share of European trading since it launched last year.

The London Stock Exchange (LSE) said last month that it would cut trading fees and introducing incentives for liquidity providers in a bid to attract algorithmic traders and fight off competition from ATSs launching in its markets.

In addition to Turquoise and Chi-X, the LSE and other domestic exchanges will soon face further competition from Bats Trading, Equiduct and the Nasdaq OMX Europe platform.

Turquoise share trading platform goes live - Reuters

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Equiduct revises pricing to reward liquidity providers

Equiduct revises pricing to reward liquidity providers

14 August 2008  |  7762 views  |  0 comments
Turquoise hit by clearing issue in Italy - report

Turquoise hit by clearing issue in Italy - report

29 July 2008  |  7480 views  |  0 comments
Deutsche Bank live on Chi-X Europe

Deutsche Bank live on Chi-X Europe

17 June 2008  |  10659 views  |  0 comments
Turquoise primes for September launch

Turquoise primes for September launch

30 January 2008  |  6704 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.innotribe.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
20765 views comments | 31 tweets | 44 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15634 views comments | 24 tweets | 33 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
11229 views comments | 12 tweets | 23 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job