Turquoise, the pan-European equity trading platform backed by nine of Europes leading investment banks, has gone live with its deployment of the Progress Apama CEP platform as part of its real-time and post-trade market surveillance system. With its use of Progress Apama, Turquoise can assure traders that Turquoise has the electronic technology in place to capture breaches of trading rules and root out market irregularities, thereby ensuring a fair and open market.
“Turquoise aspires to the highest compliance standards and requires the best technology, processes and policies to achieve that,” says Ian Werner, head of legal and compliance, Turquoise. “Technology platforms like Apama provide us with a way to compete for liquidity by showcasing our commitment to being a scrupulously fair exchange.”
“MiFiD has introduced new areas of competition within European equities markets, offering traders an ever-expanding array of choices for liquidity,” says Dr John Bates, founder and general manager of the Apama division of Progress Software. “Turquoise has shown itself to be a true innovator. Rather than view market oversight as a regulatory burden, it has embraced surveillance technology, thus enhancing the appeal of its exchange and encouraging liquidity. We are extremely excited to be a partner in this effort. With the Apama platform, Progress offers Turquoise the unique ability to monitor, analyze and act on trading irregularities in real time.”
In addition to real-time monitoring, Turquoise is also using the Apama platform to add further value to the market data it collects for clients as well as offer services such as detailed analysis of transactions and a better understanding of price improvement and performance.
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