22 September 2008 News

 

Turquoise launches with ringing of the 'Opening Bell'

Turquoise was officially launched at an ‘Opening Bell' ceremony by Peter Gibbs, chairman and Eli Lederman, chief executive in the Turquoise offices at 8am this morning.

Over the last five weeks, Turquoise has added stocks and countries in a planned, deliberate process to try and ensure its orderly adoption by members and its integration with other components of market infrastructure. The formal opening today represents the end of this rollout, and the start of a new phase in the development of the Turquoise market. Turquoise's market model offers liquidity to traders of small orders at high frequency and dark orders in institutional size.

In the three weeks since it began trading in over 1200 stocks across 13 European countries, Turquoise has produced the following figures:

• Cumulative value of €10 billion traded
• €1 billion traded on 4 consecutive days
• € 6 billion traded in the week of 15^th September
• In over 90 stocks, market share regularly in excess of 5%
• 30 million inbound messages on a daily basis
• On target to reach 5% market share for year end 2008

As part of its formal launch, the Turquoise MTF (Multilateral Trading Facility) also announced today that real-time market data is available, free of charge, on the company's website (see http://www.tradeturquoise.com/)