Fledgling exchange up and running at breakneck speed
Published: 25 September 2008 16:36 GMT
Multilateral trading exchange Turquoise has completed its systems testing by outsourcing it to AppLabs.
Cheat Sheets
♦ Faster Payments
♦ Basel II
♦ MiFID
♦ Sarbanes-Oxley
The exchange, which is owned by investment banks, was built in eight months, according to Turquoise CTO Yann L'Huillier.
L'Huillier told silicon.com the timeframe could not have been met without AppLabs support.
The system has been tested at a peak performance of 13,500 transactions per second, although the trading platform has been designed to cope with an average of 6,000 orders per second and latency of 1.8 milliseconds.
"The project demanded a huge amount of testing and for the job we needed 15 to 25 testers. Anyone who thought they could do it with less testers would probably fail and the exchange wouldn't have been launched within two years," he said.
The exchange launched on 15 August with only five stocks but aims to extend that to 13,000 stocks across 13 European markets.
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