Turquoise, the pan European equity trading platform backed by nine of Europe’s leading investment banks, today announced that the Financial Services Authority has granted Turquoise authorisation to operate a Multi-lateral Trading Facility (MTF).
A ‘MiFID passport’ has also been granted allowing Turquoise to offer trading services directly to firms located in each of the EEA countries.
Trading will begin on a limited basis in August with the rollout of trading completing in early September. Turquoise’s sophisticated trading system combines rich functionality with high performance. Turquoise’s unique market model integrates a dark pool and visible order book, taking advantage of crossing opportunities between the two.
Eli Lederman, Chief Executive, said of the approval: “Securing FSA authorisation demonstrates our commitment to putting in place governance, people and technology aligned with our intention to provide a platform that deserves its place at the centre of European capital markets.”
Ian Werner, the head of legal and compliance at Turquoise added: “The FSA have set the bar high in establishing the new post-MiFID MTF authorisation process. We are very pleased that our hard work and close co-ordination with the regulator has resulted in our successful application.”
