David Lester, CEO, Turquoise: "We are absolutely delighted with the performance of our new technology, and the very positive feedback our customers have given us on the platform."
Turquoise has claimed that it is now the fastest trading platform in the world. The average order entry latency on Turquoise's new ultra-low latency trading system, developed by MillenniumIT, is 126 microseconds. Turquoise states that this is twice as fast as it's main international competitors on a like for like basis. 99.9% of all customer orders on the new system, says Turquoise, are accepted, processed and acknowledged within 400 microseconds.
Speaking ahead of the European Exchanges Summit in London, where he will give further detail on the statistics, David Lester, CEO of Turquoise said: "We are absolutely delighted with the performance of our new technology, and the very positive feedback our customers have given us on the platform. Recent competition between trading venues has helped move the market forward, extending choice and reducing costs for clients, as well as driving the innovation that MillenniumIT technology has brought to Turquoise.
"With Turquoise now offering average end-to-end trading of just
126 microseconds, twice as fast our competitors, we've made it
clear we intend to compete, and compete strongly. In just eight
partnership with our customers and their vendors, we have delivered the world's fastest trading platform and expanded our membership base to over 60 clients. The consistent low latency and responsiveness of our new trading platform will underpin the next stage of Turquoise's growth, offering our clients greater risk control and improved certainty of execution, which will lead to tighter spreads and a deeper liquidity pool."