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Plato and Turquoise form block trading agreement

First Published 7th September 2016

Plato Partnership and Turquoise to jointly promote the use of Turquoise Plato and co-develop anonymous European equity block trading services

Plato Partnership, a not-for-profit industry group of buy and sell-side firms who are collaborating to bring creative solutions and efficiencies to the equity marketplace, has selected Turquoise, the European MTF, as its Preferred Partner.

Plato Partnership and Turquoise aim to develop increased efficiencies for the electronic execution of anonymous block trades in European equities in response to growing demand from market participants, particularly buy-side firms.

Integral to the Cooperation Agreement are:

  • Plato Partnership and Turquoise will jointly promote the use of Turquoise's existing block trading services and will use these as the platform from which to deliver further functional enhancements
  • Turquoise will rebrand its non-displayed services. The services will now be known as Turquoise Plato.
  • The parties will work together and with the wider buy and sell-side community to develop and validate enhancements to the Turquoise Plato market model.

Both the buy-side and sell-side members of Plato Partnership have a common objective to enable a rational market structure for block trading under MiFID II, and collectively believe this would be best served via collaboration with existing venues.