Turquoise Lens

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TQ Lens

TQ LENS is Turquoise's dark liquidity aggregation service, providing unique smart order routing functionality, facilitating access to both the TQ Midpoint Dark Book and to external liquidity partners (LPs).
Choose your strategy
TQ LENS offers members the opportunity to choose different strategies for routing orders. Members can opt to: Post to Turquoise Midpoint Dark Book and then distribute: Turquoise takes precedence and receives the entire order with an expiration time. Any remaining order quantity is then distributed among all participating liquidity partners (LPs) including Turquoise. Send IOC to Turquoise Midpoint Dark Book and then distribute: Turquoise takes precedence and then receives the entire order as an IOC. Any remaining order quantity is then distributed as a passive order among all participating LPs. Post to all LPs simultaneously: The order is distributed equally among all participating LPs including Turquoise. All orders will have a time in force.
Benefit from our partner brokers
Members gain unique access to non-displayed block liquidity of our liquidity partners through a single access point. TQ LENS broking service minimises information leakage and removes counterparty risk by providing a centrally cleared solution.
Trade through a unique market solution
TQ LENS combines the benefits of a single point of access and improved quality of execution with guaranteed price improvement. Through this differentiated dark aggregation service, members have the choice of several liquidity types. TQ LENS parses incoming orders and distributes them according to a series of sophisticated algorithms to otherwise inaccessible, fragmented liquidity sources. As such, it mediates access to the multiple liquidity partners via a single, independent connection.

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