Turquoise Derivatives Launches FTSE Index Options

Turquoise Derivatives Launches FTSE Index Options

  • FTSE Index Options join FTSE Futures on new platform
  • New product meets market appetite for choice in derivatives trading
  • Competitive trading, clearing and market making fees from day one
  • Three market makers committed to provide liquidity in new products

Turquoise announced today that it has introduced FTSE Index Options on to its Turquoise Derivatives platform. The new products represent the next stage of the platform’s development as it moves towards offering a full suite of competitive pan-European derivatives.

Three market makers have committed to provide liquidity from today, including Citigroup and securities trading firm, Tibra Trading Europe Limited. Turquoise Derivatives is dedicated to providing improved on-screen liquidity with tighter spreads, enhanced order-size availability and a more attractive fee structure.

Adrian Farnham, Chief Executive of Turquoise, said:

"Today’s launch signals the next stage in the pan-European expansion of Turquoise Derivatives. We are committed to providing market participants with choice in trading derivatives, offering lower costs, world beating technology and excellence in customer service.

"We are seeking to challenge the dominance of traditional venues and are positioning ourselves to take advantage of regulatory change that promotes an open and competitive environment. The need for competition is clear, the derivatives landscape is evolving and we fully intend to be at the forefront of that change."

A three month fee holiday has been introduced for market-makers at launch. Thereafter market-makers will be charged 5p per contract. All other customers will be charged 15p per contract.

The clearing fee for options will also be 2p per contract (same as for the TQ FTSE Futures).

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For further information, please contact:

Lauren Crawley Moore

+44 (0)20 7797 1222 newsroom@londonstockexchange.com

Notes to editors:

About Turquoise Global Holdings Limited:

Turquoise Global Holdings Limited ("TGHL") is an investment firm authorised by the Financial Services Authority (FSA) of the United Kingdom. Majority owned by London Stock Exchange Group (LSEG), its shareholders also include twelve leading investment banks.

TGHL operates a multilateral trading facility ("Turquoise") with two distinct trading platforms; Turquoise Equities and Turquoise Derivatives. Turquoise Equities offers lit and dark trading services in some 2,000 securities (including equities, ETFs, GDRs and ADRs) across 19 countries in Europe and the United States. Turquoise Derivatives offers trading of single stock, index and dividend derivatives based on pan-European and International Order Book (IOB) equities.

TQ Lens, Turquoise’s liquidity aggregation service facilitates smart order routing by parsing incoming orders and distributing them according to a series of sophisticated algorithms to otherwise inaccessible, fragmented liquidity sources.

Users of the Turquoise MTF and TQ Lens benefit from fully risk-managed clearing solutions, and industry-leading market surveillance to ensure fair and orderly operations.

Membership is uniformly open to qualified firms, with members today ranging from the largest global banks and brokers to institutions with local, regional and sector focus, and specialist trading and market-making firms.

For more information, please visit www.tradeturquoise.com

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity and derivatives trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.

The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services. 

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.lseg.com.