TURQUOISE CHOOSES TAG FOR EXECUTION PERFORMANCE MEASUREMENT

Posted June 23, 2008

LONDON -- Turquoise, the multi-lateral trading facility backed by nine leading European investment banks and scheduled to launch in September, has chosen The Transaction Auditing Group, Inc. (TAG) to provide independent daily execution performance measurements.

“Partnering with TAG will help us to provide further analytical value to our participants as they benefit from the combination of low latency with high quality execution performance of Turquoise once it launches,” says Yann L’Huillier, Chief Technology Officer at Turquoise. “TAG can meet Turquoise’s high standard for independent, comprehensive execution analysis by including their custom performance benchmarks.”

Turquoise will aim for a critical mass of natural liquidity, while TAG tools provide independent measurement of best execution performance for broker-dealers and the buy side.

“TAG is eager to report to [Turquoise] participants on how Turquoise’s sophisticated trading system and unique market model will have delivered frequent price improvement and crossing opportunities,” says Christophe Dacre-Wright, Chief Executive Officer of TAG.