Turquoise NYLON™ brings together Turquoise’s innovative equity derivative trading solutions: Turquoise SwapMatch™ and Turquoise CFD™.
Turquoise SwapMatch™ is a venue for financial institutions to match block interests in equity total return swaps.
Turquoise SwapMatch™ facilitates the matching of large “block” interests in bilateral over-the-counter Total Return Swaps by seeking and identifying block matching opportunities between Members.
Members can select which other Members they are willing to be matched with and may select other Matching Parameters to be applied during a Matching Run.
Members are under no obligation to execute Suggested Swap Positions. Once both relevant Members Confirm any Suggested Swap Position on the same terms, the Swap Position is executed, subject to standard bilateral confirmation procedures in place between the relevant Members.
Turquoise SwapMatch™ assists with the on-going processing and intermediation of Early Terminations and Scheduled Terminations in relation to Swap Positions. Where Turquoise SwapMatch™ is not used by Members for this purpose; Members must notify Turquoise SwapMatch™ of any changes to their Swap Positions so that these can be taken into account when calculating fees pursuant to the Tariff Model.
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