9th January 2009
TURQUOISE 2009: THE COURSE FORWARD
Building on the strong start we enjoyed last year, we're happy to
report continued growth in our MTF marketplace. Each day's trading in
2009 has exceeded our highest 2008 market share for the 310 stocks in
our integrated market segment. We've also experienced record volumes
of dark executions consistently over the last two months.
Turquoise members benefit today at both ends of the trading spectrum:
our visible market delivers fast execution and frequent price
improvement, and our large-order dark pool delivers even more
substantial improvement in execution performance.
Last year we promised to stay open to new ideas, to be responsive to
members and the marketplace, and to provide a better trading service,
one with measurable value. We have delivered this, and we'll continue
to do so.
We announced last month that Turquoise will start a dark pool
aggregation service, beginning in Q1 2009, to complement the
MTF. Members who use this service will have simpler access to the
significant liquidity that banks and brokers manage internally. By
going through this new Turquoise service, members will protect their
identity and benefit from lower information leakage and richer
functionality.
We'll soon be announcing other enhancements to our trading services,
in terms of new functionality and higher performance, and we are
developing new services around data and analysis. It's a team effort
here, between us and our members, so we avoid saying "I". But there
are three "i's" that will continue to be the hallmark of everything we
do: innovation, integrity and independence.
Thank you for your attention and, on behalf of everyone at Turquoise,
we wish you the best in this New Year and look forward to continuing
to work with you.
Eli
January market share* in our integrated market segment:
| 2 Jan |
5 Jan |
6 Jan |
7 Jan |
8 Jan |
| 6.5% |
5.7% |
5.5% |
5.9% |
5.8% |
*Includes all other MTFs, the incumbent exchanges and their opening
and closing auctions, i.e. real market share.
