Just weeks into its phased launch, trading on MiFID-compliant equities trading facility Turquoise has been disrupted by technical glitches.
Network and firewall-related problems affected technology in Turquoise's data centre yesterday, leaving some brokers unable to trade for a short period.
However a back-up system quickly kicked in. Some clients switched over automatically whilst other users had to move over manually, leaving them out of action for a few minutes.
Turquoise chief executive, Eli Lederman, told the Financial Times the problem had been analysed and improvements are being worked on.
Lederman said for the overwhelming majority of Turquoise members who were trading yesterday, it was a "virtually instantaneous event with no bad effects". He said many members were able to recover "in less than a second".
Turquoise went live on 15 August and has since been adding new markets to the offering, recording its first day at full capacity - 1300 stocks in 13 European countries - on Friday.
Turquoise suffers network jitters - FT