Turquoise, a new multilateral trading facility rival to European exchanges, is set to launch limited live trading on August 15.
Backed by some of the most powerful investment banks, the MTF plans to hit the ground running, with 60 to 80 clients at launch and liquidity commitments from its nine shareholders.
It also plans a rapid roll-out of the full 1,500 securities across 14 markets that it plans to trade over just three weeks, compared with the more gradual approach of rival MTF Chi-X, which has been adding markets gradually since launching 15 months ago.
Turquoise will offer trading in all 1,500 stocks on its dark pool – its non-displayed matching engine for large orders – and also open order book trading for the 300 most liquid stocks.
The key difference between Turquoise and both rival MTFs and incumbent exchanges will be the interaction of orders between its dark pool...
You must be a subscriber to access this archived content.
If your subscription includes access to the archive, please log in now to view.
To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
- 12 months access in print and online - on euromoney.com, read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 1996
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe