| This article is outdated. (May 2009) |
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| Turquoise | |
|---|---|
| Type | Multilateral Trading Facility |
| Location | London, United Kingdom |
| Founded | 2008 |
| Owner | London Stock Exchange Group |
| Website | http://www.tradeturquoise.com/ |
Turquoise is an equities and derivatives trading platform (Multilateral trading facility or MTF), created by nine major investment banks in 2008. The aim was to provide dealing services at a 50% discount to traditional exchanges.[1] It is a hybrid system that allows trading both on and off traditional exchanges.[2] The system was advertised as a "pan-European platform based in London."[1]
History[]
It was set up by a consortium of banks made up of BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley, Société Générale and UBS. The group selected EuroCCP to provide clearing and settlement services.[3][4] The group selected Sweden's Cinnober as its trading platform. Turquoise developed a real-time market surveillance system "to capture breaches of trading rules and root out market irregularities." The system is based on the Progress Apama complex event processing Platform.[5] Turquoise was successfully launched on 15 August 2008.[6]
On 21 December 2009, the London Stock Exchange Group agreed to take a 60% stake in trading platform Turquoise, which had a 7% share of the market. Turquoise was merged with the LSE's trading facility Baikal Global.[7]
The Turquoise (trading platform),[8]has expanded to include the trading of Option and Future Derivatives with its new Electronic Sola Trading [9] Derivatives Platform Launched June 6, 2011 started with the addition of FTSE Index 100 Futures contracts and has expanded to have FTSE 100 Options contracts on September 26, 2011[10] This fast growing high speed exchange has been recognized as the award winner of the "Best New Derivatives Trading Platform/Service" by the Financial News Awards for Excellence in Trading and Technology, Europe 2011 [11]
See also[]
- Chi-X
- Chi-X Europe
- London International Financial Futures and Options Exchange
- Euronext
- NYSE Euronext
Notes[]
- ↑ 1.0 1.1 Script error: No such module "citation/CS1".
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- ↑ Tradeturquoise.com, April 11, 2011 "source 10"
- ↑ Sola Homepage"source 2
- ↑ Tradeturquoise.com, September 26, 2011 "source 11"
- ↑ Financial News Events, Tuesday October 4, 2011 "source 12".
External links[]
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