Turquoise launches pricing promotion
Turquoise today announced a new pricing promotion to take effect on 1 June. The aim of the promotion is to attract additional passive order flow to Turquoise's integrated order book, increasing liquidity on the platform ahead of the planned migration to Millennium Exchange.
Turquoise clients that increase their passive trading activity by more than €1 billion per month versus their Q1 2010 average will qualify for the scheme. The promotion offers rebates according to the increase in passive value traded in a calendar month, with the first €2.5 billion receiving a rebate of 0.28bps, the next €3.5 billion a rebate of 0.48bps, and the next €4 billion a rebate of 0.28bps.
New members can also qualify for the rebate, during any month of the promotion, as long as they exceed a passive value traded of €1 billion.
Turquoise's aggressive fee remains at 0.28bps.
Today's announcement is the latest in a series of recent developments at Turquoise, including the recent launch of trading in US-listed ETFs, equities and ADRs. Turquoise has also seen a growing number of clients enable their systems to trade Hungarian and Czech stocks on the platform.
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For further information, please contact:
Patrick Humphris / Alastair Fairbrother
+44 (0)20 7797 1222
Notes to editors:
The full tariff schedule is available here: http://www.tradeturquoise.com/tq_tariff_download.shtml
Turquoise Services Limited (Turquoise) is an authorised investment firm, regulated by the Financial Services Authority providing pan-European lit and dark equity trading. Since February 2010, Turquoise has been majority owned by London Stock Exchange Group.
The Turquoise MTF comprises the Integrated Book and Midpoint Book, each covering some 2000 securities across 19 countries, including trading in 175 of the most liquid US equities, ADRs and ETFs. Unique functionality in the Integrated Book combines visible and non-displayed orders to deliver increased likelihood of execution and price improvement. The Midpoint Book is a non-displayed execution service where trades execute at the midpoint of the bid-ask spread. Non-displayed orders in the Turquoise MTF qualify for pre-trade transparency waivers specified by MiFID and are subject to immediate post-trade transparency.
TQ Lens, Turquoise's liquidity aggregation service parses incoming orders and distributes them according to a series of sophisticated algorithms to otherwise inaccessible, fragmented liquidity sources. As such, it mediates access to the multiple liquidity partners via a single, independent connection.