Neonet’s first trade at Turquoise was executed earlier today, as one of our clients was buying shares in Siemens. Neonet’s Smart Order Technology searched for the best price on the marketplaces where Siemens is traded including the primary market Frankfurt Stock Exchange and the secondary markets Chi-X and Turquoise. The best price for this order was found on Turquoise and consequently the order was executed there.
Turquoise is today starting its soft launch with trading in a limited numbers of shares. The full launch is scheduled for September. Under the Markets in Financial Instruments Directive (MiFID), trading in Europe is undergoing a period of rapid transformation, and Turquoise represents a new generation of trading platforms. By offering trading at Turquoise and over 30 other global marketplaces, Neonet offers its clients the combination of deep global liquidity across the traditional marketplaces with access to the new competitive markets.
Neonet XG is proud to also provide Turquoise with low-latency, real time market data from across the European equity markets through Neonet’s XG Market Data.
Neonet was one of the first to announce its ambition to offer trading at Turquoise. At the time of our press announcement Eli Lederman, Chief Executive of Turquoise said: ”Our integration with European trading platforms represents a central tenet of our launch and ongoing operations, post-launch. Through Neonet we gain access to important segments of the trading community, and Neonet users will benefit from the full, differentiated functionality of Turquoise."