26 September 2017
Find out more

Turquoise to launch liquidity aggregation service

18 May 2009  |  6149 views  |  0 fibre optic wires

Bank-backed equity trading venue Turquoise is set to launch a liquidity aggregation and order routing service after getting the go-ahead from the Financial Services Authority (FSA).

Turquoise says TQ Channel, set to launch in early July, will provide a single point of access to non-displayed liquidity from major trading firms, allowing clients to take advantage of otherwise inaccessible liquidity in over 1700 securities in 15 European markets.

The platform says its independent, centralised infrastructure offers a meeting point for otherwise fragmented liquidity and a place where institutional size trades will execute securely.

In addition, counterparty risk is mitigated through a fully cleared offering, with settlement through EuroCCP's facility, netting with all other Turquoise trades.

The move will help Turquoise broaden its revenue base as it fights for business in the crowded post-MiFID environment which is seeing competing platforms slash fees to gain market share. In March the facility saw dealing volumes slump after liquidity agreements with market-makers expired.

Eli Lederman, chief executive, Turquoise, says: "Institutional investors will benefit from the efficiency of high cross rates for large and less liquid orders, while obtaining price improvement and minimising information leakage."

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

LCH.Clearnet agrees competitive clearing deals

LCH.Clearnet agrees competitive clearing deals

07 May 2009  |  13630 views  |  0 comments
Turquoise volumes slump; Bats picks up FTSE 100 share

Turquoise volumes slump; Bats picks up FTSE 100 share

23 March 2009  |  9679 views  |  0 comments
Turquoise joins competing platforms to develop common stock symbology

Turquoise joins competing platforms to develop common stock symbology

02 March 2009  |  6082 views  |  0 comments
MTFs set to win more market share as price competition takes hold

MTFs set to win more market share as price competition takes hold

19 February 2009  |  8858 views  |  0 comments
Turquoise increases rebates for high volume traders

Turquoise increases rebates for high volume traders

26 January 2009  |  6823 views  |  0 comments
Turquoise secures funding

Turquoise secures funding

23 January 2009  |  7917 views  |  0 comments
Instinet execution data shows 'MTF effect' on European share trading

Instinet execution data shows 'MTF effect' on European share trading

10 December 2008  |  9932 views  |  0 comments
Turquoise to tap new investors

Turquoise to tap new investors

01 December 2008  |  11878 views  |  0 comments
Turquoise exceeds forecasts with five per cent share

Turquoise exceeds forecasts with five per cent share

10 November 2008  |  10393 views  |  0 comments
New platforms to challenge LSE on reference data

New platforms to challenge LSE on reference data

23 September 2008  |  8480 views  |  0 comments
Turquoise goes live

Turquoise goes live

15 August 2008  |  12720 views  |  0 comments
Turquoise hit by clearing issue in Italy - report

Turquoise hit by clearing issue in Italy - report

29 July 2008  |  7471 views  |  0 comments
Turquoise gets FSA approval

Turquoise gets FSA approval

30 June 2008  |  6500 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.sibos.comvisit www.ncr.comvisit www.temenos.com

Top topics

Most viewed Most shared
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
12255 views comments | 16 tweets | 30 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8855 views comments | 34 tweets | 46 linkedin
hands typing furiouslyBlockchain is a new way of thinking?
7569 views 2 | 10 tweets | 1 linkedin
German central bank flags DLT weaknessesGerman central bank flags DLT weaknesses
7306 views comments | 17 tweets | 19 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job