Turquoise, the pan-European equity trading platform backed by nine European investment banks, announced that the Financial Services Authority has granted Turquoise authorisation to operate a Multi-lateral Trading Facility (MTF).
A ‘MiFID passport’ has also been granted allowing Turquoise to offer trading services directly to firms located in each of the EEA countries.
Trading will begin on a limited basis in August with the rollout of trading completing in early September.
“Securing FSA authorisation demonstrates our commitment to putting in place governance, people and technology aligned with our intention to provide a platform that deserves its place at the centre of European capital markets,” says Eli Lederman, Turquoise’s chief executive.
“The FSA have set the bar high in establishing the new post-MiFID MTF authorisation process,” says Ian Werner, the head of legal and compliance at Turquoise. “We are very pleased that our hard work and close co-ordination with the regulator has resulted in our successful application.”