Trading in ten of the most liquid securities will commence on 2 October. The full service will launch on 16 October, when 120 of the most heavily-traded Depositary Receipts will be made available on the Turquoise MTF. Clearing will be provided through EuroCCP.

Eli Lederman, Turquoise Chief Executive, commented: "Turquoise is pleased to be bringing its greater efficiency to another area of the equities market: depositary receipts. Members will be able to execute, clear and settle their transactions on the Turquoise MTF as they would with any other European equity, utilising our competitive pricing schedule, robust technology and fully risk-managed clearing solutions. This is another example of our commitment to meeting member demands and providing services that offer the investor demonstrable value."

Depositary Receipts comprise a significant segment of the international securities market. In 2008, US$4.2 trillion of Depositary Receipts was traded, up 27% on the previous year, and London-traded Global Depositary Receipts accounted for $522 billion*.

Each Depositary Receipt represents a specific number of underlying ordinary shares in an overseas company, often one based in an emerging market. It provides an effective tool for investing directly in international markets whilst benefitting from the cost-efficiencies and transparency of trading at a home venue, for example, by eliminating the cross border custody charges that can be incurred by holding and trading international shares.

*Statistics from Citi Depositary Receipts Services, 2008 Year End Report