Another Swedish company, Cinnober Financial Technology, is providing Turquoises trading platform. "We are using NeoNets inbound market data to teed our trading engine and surveillance system," explained Yann L'Huillier, CTO of Turquoise. "This market data is not an addition to our product, but rather an integral part of our trading environment used to price and execute orders sent by Turquoise customers to the Turquoise trailing engine. We do not intend to enrich the NeoNet data from other stock exchanges and distribute it..
He added, "We will generate our own market data based on our own order book and executions." L'Huillier cited as reasons for the selection the quality of the application programming interface of NeoNets data feed, which is "delivered directly to our trading platform, and the ease of integration to our trading technology provider" Cinnober, as well as the system's scalability.

For NeoNet, signing Turquoise, which is owned by nine investment banks, gives the broker a greater presence on European desktops. Greg Treaty, VP of North American sales for NeoNet, said that the deal "adds validity to our low-latency and high quality proposition. We are happy to be partnering in such a way, to pass the value" of the Markets in Financial Instruments Directive to traders through their desktops.

"Turquoise has not launched yet so it's probably too early to slap themselves on the back," said Sang Lee, managing partner at Boston-based Aite Group. "But with all of the industry anticipation surrounding the eventual launch of Turquoise and its potential impact on the European competitive landscape, NeoNet appears to have won a very high-profile deal." Added Lee, "If Turquoise is successful and the European market undergoes similar changes to what the U.S. market has experienced over the last decade, NeoNet will certainly benefit greatly from this relationship..