17 October 2017
Find out more

BNP Paribas buys into Turquoise

06 July 2007  |  9805 views  |  0 BNP Paribas Logo

French banking group BNP Paribas has acquired a three per cent stake in Turquoise, the bank-backed equities trading platform that will compete head-to-head with domestic stock exchanges in Europe.

Speaking at a banking conference in Europe, Baudouin Prot, chief executive, BNP Paribas, told reporters that the bank had invested in the Turquoise platform, but he declined to say how much it paid for the stake.

Turquoise is being set up by Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley and UBS to compete with domestic stock exchanges in Europe - in particular the LSE - following the introduction of the EU's Markets in Financial Instruments Directive (MiFID).

OMX is rumoured to be in advanced discussions to become the sole technology provider. Meanwhile earlier this year DTCC subsidiary EuroCCP was selected to provide clearing and settlement services for the new venture.

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

OMX set to land Turquoise technology contract

OMX set to land Turquoise technology contract

25 June 2007  |  10025 views  |  0 comments
LSE unveils MiFID offering

LSE unveils MiFID offering

21 June 2007  |  7830 views  |  0 comments
EU laggards face prosecution for MiFID failures

EU laggards face prosecution for MiFID failures

24 April 2007  |  9055 views  |  0 comments
Project Turquoise banks select EuroCCP for clearing and settlement

Project Turquoise banks select EuroCCP for clearing and settlement

18 April 2007  |  18353 views  |  0 comments
Instinet rolls out MiFID-ready Chi-X platform; seeks equity partners

Instinet rolls out MiFID-ready Chi-X platform; seeks equity partners

16 April 2007  |  13532 views  |  0 comments
Two in three European banks set to miss MiFID deadline - survey

Two in three European banks set to miss MiFID deadline - survey

16 March 2007  |  11714 views  |  0 comments
Investment bank consortia sift through technology options

Investment bank consortia sift through technology options

22 January 2007  |  13320 views  |  0 comments

Related company news

 

Related company information

Credit Suisse
Goldman Sachs

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14857 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8147 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7471 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6773 views comments | 13 tweets | 7 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6118 views comments | 8 tweets | 16 linkedin

Featured job

circa £250K total package
London

Find your next job