Good progress has been made on the project over this period; the development work at Millennium exchange has been completed, two versions of the platform have been made available for customer development and test purposes and a significant number of customers and ISVs have built and tested interfaces to the new platform.

We are now in a position to share more details of the plan for the latter phases of the project which are as follows:

• 'Full and final' environment for customer development/testing & self certification: 19th July

• First Customer dress rehearsal: 11th September
• Second Customer dress rehearsal: 18th September

• Go-Live - planned date: 4th October*
• Go-Live - contingency date: 18th October*

*final confirmation of go-live date option to be made in Mid August following completion of internal testing, assessment of customer readiness & is dependent on the results of these.

We strongly encourage any customers & ISVs who have not yet built interfaces to do so now. Technical interface & protocol specifications are available for download from the Information Centre section, Document Library on the Turquoise website at www.tradeturquoise.com

In order to assist trading participants and software vendors with member readiness, Turquoise has adopted a 'self-certification' process designed to expedite testing and on-boarding.