Vontobel welcomed by Turquoise as first Swiss member firm to provide access to Turquoise Plato Block Discovery™
25/04/2017 Reading time: 3 minute(s)
- Vontobel is Turquoise’s first Swiss member firm to provide access to Turquoise Plato Block Discovery™ for its customers
- Over 25 members are participants of Turquoise Plato Block Discovery™, the award winning electronic block trading mechanism
- Over EUR 15 billion traded via Turquoise Plato Block Discovery™ since launch
Turquoise Plato Block Discovery™ is an award-winning Large-In-Scale block trading mechanism via electronic order book launched in 2014, offering a neutral and trusted MiFID II compliant platform for executing large anonymous block orders. With over two years of empirical data, Turquoise Plato Block Discovery™ has a solid track record of robust reputational scoring, designed to avoid information leakage and to deliver quality execution.
Robert Barnes, CEO of Turquoise: “We are delighted to welcome Vontobel as our first direct member from Switzerland, and we look forward to supporting them as they prepare for MiFID II. Switzerland is an important source of order flow in European stocks. Turquoise Plato Block Discovery™ provides our customers with a mechanism that allows them to adapt to the new MiFID II trading requirements and anonymously execute large block orders.”
Peter Camenzind, Managing Director, Head Transaction Banking, Vontobel: “Liquidity is very important to our customers and also to us, especially in light of MiFID II and the regulatory changes that will make the European Market Structure more sustainable. Turquoise has a significant chance to deliver this to the market. We are delighted to offer our clients access to Turquoise Plato Block Discovery™ as the first participant in Switzerland. Vontobel’s connectivity to this pool of liquidity will give our clients further access to block volume and complements our existing broad direct access to over 16 markets in Europe.”
For more information about Turquoise Plato Block Discovery™ www.lseg.com/turquoise-plato-block-discovery
Turquoise is the European multilateral trading facility majority owned by London Stock Exchange Group in partnership with the user community. With a single connection, members can trade shares, depository receipts, ETFs, and European Rights Issues of 19 European countries with an Open Access model that allows members to choose among 3 interoperable CCPs to clear these trades. Members include banks, brokers, specialist trading firms and retail intermediaries.
Turquoise features two electronic orders book services. Turquoise Integrated Lit combines simple limit and iceberg orders with Large In Scale hidden orders. Turquoise Midpoint Dark, renamed Turquoise Plato™, prioritizes orders by size and allows users to configure Minimum Execution Size; it features two distinct mechanisms, each executing at the midpoint of the Primary Market Best Bid and Offer: continuous matching and Turquoise Plato Uncross™, an innovation that provides randomised uncrossings during the trading day, ideal for larger and less time sensitive passive orders. Turquoise Plato Block Discovery™ matches undisclosed Block Indications that execute in Turquoise Plato Uncross™.
Turquoise Plato Dark Lit Sweep™ is an order that interacts firstly with the Turquoise Plato™ order book at the primary midpoint price and then continues to interact with any balance resting in Turquoise® Integrated Lit.
For more information, please visit www.tradeturquoise.com; or follow us on Twitter @tradeturquoise or LinkedIn on Turquoise
Peter Dietlmaier +41 58 283 59 30
Rebeca Garcia +41 58 283 76 69
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