TURQUOISE EUROPEAN TRADING FACILITY WINS FSA AUTHORIZATION

Posted June 30, 2008

LONDON – The UK’s securities markets regulator, the Financial Services Authority (FSA), has authorized Turquoise, the pan European equity trading platform backed by nine of Europe’s leading investment banks, to operate a multi-lateral trading facility (MTF).

“Securing FSA authorization 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, Chief Executive of Turquoise.

The FSA has also granted Turquoise a “MiFID passport” to offer trading services directly to firms in each of the European countries. Turquoise is planning to start limited trading in August, with full trading to commence in early September.

“The FSA have set the bar high in establishing the new post-MiFID MTF authorization process,” says Ian Werner, 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.”