Turquoise chooses NeoNet for inbound market data
London, 13th March 2008 – Turquoise, the multi-lateral trading facility established by nine leading European investment banks today announced that it will use NeoNet’s XG Market Data software to obtain real time data from across the European equity markets.
The Turquoise platform, which is on schedule to launch in September, will provide participants with rich trading functionality requiring a high quality, low latency source of real-time market data from all the relevant alternative platforms. NeoNet XG Market Data will also be used to conduct analysis of transactions as well as detailed trading information.
Commenting on today's announcement, Yann L’Huillier, the Turquoise Chief Technology Officer, said: "Obtaining timely and accurate real-time market data is key to providing the rich trading services Turquoise will be offering. I am very pleased that we have found in NeoNet a market data provider that can meet our demanding requirements for speed and quality."
Simon Nathanson, CEO of NeoNet comments, "We are delighted that Turquoise has chosen NeoNet as the provider of its European market data. Turquoise is a truly transformational platform with high ambitions. Their decision to partner with NeoNet is a real endorsement of the quality, reliability and low-latency of our trading and market data infrastructure."
"MiFID has enabled significant change to the European capital markets, and innovative companies such as Turquoise and NeoNet are ensuring these changes deliver real benefits to market participants," concludes Nathanson.
ENDS
For further information:
Turquoise
Adrian Flook M:Communications +44 (0)20 7153 1588 / +44 (0)7768 608396
NeoNet
Ulrika Lilja Head of Communications +46 8 454 15 82 / +46 703 68 17 00
About Turquoise
Turquoise is an entrepreneurial, independent company that will provide an innovative, pan-European and open trading platform treating all participants equally. Backed by the largest investment banks in Europe, Turquoise will have a critical mass of natural liquidity from day one: a venue that every trader will need to access.
Turquoise's dark pool and lit pool will be able to interact with each other to help the market trade more efficiently at improved prices. This unique, integrated order pool, combining and matching dark and transparent orders, will enable users to obtain price improvement for small orders and trade large orders efficiently while minimising information leakage. The clearing & settlement function will be delivered by EuroCCP, a subsidiary of DTCC, a partnership that will help to drive down the total cost of trading.
For further information, please visit www.tradeturquoise.com
About NeoNet
NeoNet is a global agency brokerage firm and technology provider, offering professional market participants neutral, high speed brokerage services and advanced trading software solutions.
NeoNet's in-house developed platform offers connectivity to the world's leading market places globally across the key regions of North America, Europe, Asia and Australia.
NeoNet's cutting-edge technology solutions, NeoNet XG, include an integrated product suite. It features high speed market connections, a comprehensive execution management system, market data services and advanced trading tools. NeoNet is listed on the OMX Nordic Exchange in Stockholm and has clients in over 20 countries globally.
For more information, please visit: www.neonet.biz