Ahead of the UK’s withdrawal from the European Union (EU), Turquoise continues to make all necessary preparations to ensure adequate contingency arrangements are in place.
Turquoise has obtained regulatory approval from the Autoriteit Financiële Markten (AFM) in The Netherlands to operate as an MTF (Turquoise Europe).
On 31 January 2020, the United Kingdom left the European Union (EU) and entered into a “Brexit transition period”. The Brexit transition period is currently scheduled to end at 11pm UK time on 31 December 2020. Ahead of this date, Turquoise continues to make all necessary preparations to ensure adequate contingency arrangements are in place. Turquoise can confirm that it is planning on invoking its Brexit contingency plans on Monday 30 November 2020, unless relevant equivalence decisions to allow cross-border services between the EU and UK are agreed prior to this date.
We continue to monitor developments and will further update the market on our planning in due course.
In the event Turquoise invokes its Brexit contingency plans, the following will occur:
European Economic Area (EEA) securities will be made available for trading on the MTF operated by Turquoise Global Holdings Europe B.V. (“TGHE” or “Turquoise Europe”), on Monday 30 November 2020.
The current instrument universe will continue to be available for trading on the MTF operated by Turquoise Global Holdings Limited (“TGHL” or “Turquoise Global”); and
Both Turquoise Europe and Turquoise Global will operate the following independent Order Books from Monday 30 November 2020: Turquoise Lit™, Turquoise Plato™ (including Turquoise Plato Block Discovery™ and Turquoise Plato Dark-Lit Sweep™), Turquoise Plato Lit Auctions™. Turquoise Plato Trade At Last™ launched on Turquoise Global on 19 October 2020 with the intention to launch the same service through an independent Order Book on Turquoise Europe at a later date, subject to regulatory approvals.