You are here: silicon.com > Financial Services > News

Turquoise trading platform begins to settle

Upstart exchange goes live

Tags: settlement, colt, trading platforms

By Julian Goldsmith

Published: 19 August 2008 12:34 GMT

Investment-bank-owned share trading platform Turquoise, which went live last week, is expected to complete the first clearing and settlement of trades in the UK and Germany in the next two days.

The cash equity trading platform aims to offer cheaper trading for banks and brokerages than incumbent exchanges.

Cheat Sheets

♦ Basel II
♦ MiFID
♦ Sarbanes-Oxley

The platform was slated for launch after the Markets in Financial Instruments Directive (MiFID) came into effect last November. However, the platform was forced to delay launch because it had difficulty in acquiring a suitable trading engine, according to reports.

At launch only five stocks are traded on the platform but Turquoise is expected to extend its services to 1,300 stocks across 13 European markets.

Volumes are also expected to be small until the platform completes clearing and settlement on initial trades.

Colt Telecom said it has connected 10 large banks and market data customers to the platform.

  1. Zones
  2. Management
  3. Networks
  4. Software
  5. IT Services
  6. Hardware
  1. Verticals
  2. Public Sector
  3. Financial Services
  4. Retail & Leisure

silicon.com Financial Services
Get the latest financial services news straight to your inbox. Sign up for the FS newsletter today!


  • Jobs
Asset Management. Algorithmic Trading Platform. OO Programming. 60K.

Asset Management. Algorithmic Trading Platform. OO Programming. K. One of London's leading Asset Managers seeks an IT focused individual who has a ...

Senior Electronic Trading Developer

Through their low-cost, streamlined model, institutional investors are able to trade pan-European equities and achieve ultra-low execution, clearing ...

QA Analyst for Electronic Trading

Through their low-cost, streamlined model, institutional investors are able to trade pan-European equities and achieve ultra-low execution, clearing ...

Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.




Quick Sitemap Links: