Turquoise Trading Limited, the multilateral trading facility (MTF) established by nine European investment banks, has selected BT for secure hosting services and low latency connectivity, claiming that the MTF it will be able to offer its users fast, direct access to the trading platform and the option to co-locate their trading engines with BT to achieve “near-zero” trading latency. In order to ensure maximum resiliency, Turquoise systems will be hosted in two of BT’s data centres in the London area, with the centres connected by BT’s low latency technology and enabling synchronous data transfer.

READ THE REST

With Project Turquoise , the planned equities trading platform being set up by seven investment banks, believed to have selected OMX technology to take on the London Stock Exchange (LSE) in its own backyard, the turf war in equities trading appears to be heating up. Turquoise also received a boost by news as Electronic Trading went to press that BNP Paribas has bought a three per cent stake in the initiative, for an undisclosed amount.

READ THE REST

New York-based alternative trading system operator Nyfix has signalled that it plans to launch a MiFID multilateral trading facility (MTF) based on its Millennium dark liquidity platform before the end of the year. The move adds Nyfix to the ranks of announced MiFID MTFs, which currently include the likes of the Project Turquoise bank consortium, Instinet’s Chi-X platform, Investment Technology Group’s (ITG) Posit and Equiduct.

READ THE REST