Turquoise announced that from today it has introduced FTSE Index Options on to its Turquoise Derivatives platform. The new products represent the next stage of the platform's development as it moves towards offering a full suite of competitive pan-European derivatives.
Three market makers have committed to provide liquidity from today, including Citigroup and securities trading firm, Tibra Trading Europe Limited. Turquoise Derivatives is dedicated to providing improved on-screen liquidity with tighter spreads, enhanced order-size availability and a more attractive fee structure.
Adrian Farnham, Chief Executive of Turquoise, said: "Today's launch signals the next stage in the pan-European expansion of Turquoise Derivatives. We are committed to providing market participants with choice in trading derivatives, offering lower costs, world beating technology and excellence in customer service.
"We are seeking to challenge the dominance of traditional venues and are positioning ourselves to take advantage of regulatory change that promotes an open and competitive environment. The need for competition is clear, the derivatives landscape is evolving and we fully intend to be at the forefront of that change."
A three month fee holiday has been introduced for market-makers at launch. Thereafter market-makers will be charged 5p per contract. All other customers will be charged 15p per contract.
The clearing fee for options will also be 2p per contract (same as for the Turquoise FTSE Futures).