Our privacy policy describes how Fidessa uses cookies on our website. If you continue using our website, you are consenting to our use of cookies. OK

Equiduct and Turquoise step forward

Interesting to see the advertisements in the FT today for Equiduct’s VBBO. Basically, the concept is that Equiduct will provide a real-time feed that shows how much better an execution could be if all the alternative trading venues were taken into account. This is a positive step towards a “consolidated tape” although, as with all things in the world of fragmentation, the devil is in the detail. Equiduct’s VBBO is calculated based on SMS order size only and so, whilst it provides a useful illustration, the results are only valid if your order quantity matches the SMS quantity for that stock.

Also saw that Eli and Turquoise are on the fund-raising trail. Much has changed since the original investors thought up the Turquoise concept back in the early part of 2007 so it’s not surprising that Turquoise is looking to expand its investor base. In particular, what all the new platforms need is sustainable liquidity. In this regard, yesterday was a good day for Turquoise which traded over 6% of the FTSE 100 (incidentally, BATS weighed in with a respectable 2%). In another forward step Turquoise will also be introducing a revised maker taker price model and is introducing an equity participation program for existing partners which will reward them for supporting the platform with liquidity.

Leave a comment

Copyright © 2019 Fidessa Group Holdings Limited. All rights reserved.

The information contained within this website is provided for informational purposes only. Fidessa will use reasonable care to ensure that information is accurate at the time it is made available, and for the duration that it remains on the site. The information may be changed by Fidessa at any time without notice. We also reserve the right to close the website at any time. No representation or warranty, expressed or implied, is given on behalf of Fidessa or any of its respective directors, employees, agents, or advisers as to the accuracy or completeness of the information or opinions contained herein or its suitability for any purpose and, save in the case of fraud, all liability for direct, indirect, special, consequential or other loss or damages of whatever kind that may arise from use of the website is hereby excluded to the fullest extent permitted by law. Any decisions you make based on the information in this website are your sole responsibility and information on the website should not be relied upon in connection with any investment decision.

The copyright of this website belongs to Fidessa. All other intellectual property rights are reserved.

Fragulator® is a registered trademark of Fidessa Group Holdings Limited.

Reproduction or redistribution of this information is prohibited except with written permission from Fidessa.