Page Summary
The Turquoise trading platform is a multilateral trading facility that allows trades to take place on and off exchanges. Nine investment banks created it in 2008. The goal was to offer dealing services 50% cheaper than other exchanges. Deutsche Bank, Goldman Sachs, and Morgan Stanley were among the banks that created Turquoise. They chose Cinnober as its trading platform and EuroCCP to provide clearing services. Turquoise has a built-in surveillance system that scans for market irregularities.
The London Stock Exchange Group acquired 60% of the trading platform in 2009. A year later Turquoise switched to the MillenniumIT platform. Technical problems caused the system to stop working for 2 hours. In 2011 Turquoise added options and futures derivatives trading through Sola Trading, their new derivatives platform. The trading platform has won prizes like the Most Innovative Trading Service and the Best New Derivatives Trading Platform/Service by the Financial News Awards in 2011 and 2015.
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Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…