Turquoise, a trading platform for alternative equities, has suffered firewall problems
LONDON – Trading platform Turquoise suffered a disruption to trading on Monday when problems with its firewall stopped trades, only three weeks into the alternative equities platform’s phased launch.
A number of these technologically advanced multilateral trading facilities are due to launch in Europe over the next three months. The alternative platforms for equities aim to attract high-frequency algorithmic traders.
Such customers demand trading and back-office systems to handle multiple orders simultaneously, with minimum latency. Turquoise started offering a small number of UK and German shares, expanding to a full range of 1,266 stocks by August 29. Despite the setback, Turquoise claims the platform is still on track.
Eli Lederman, Turquoise’s chief executive, says: “Certainly we wish it hadn’t happened, but we have been analysing what happened and we’re confident that we will be fine. We are working to make improvements.”
More on Technology
Bank technology needs continue to evolve
Data has been a problem for the past two decades for firms in the region
Increasing role of technology is key trend in two decades since launch of Asia Risk
Business strategies must be able to leverage technologies with right attitudes in place, say C-Level panelists.
Sign up for Risk.net email alerts
Catch up with the debate at OpRisk's flagship London conference
Sponsored video: Elseware
Oxford professor David Vines argues that the carrot is as important as the stick
Sponsored webinar: IBM
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.