Turquoise is currently going through a process to allow recognised intermediaries to be eligible for SDRT relief for UK trades executed on Turquoise.

These regulations extend the stamp duty reserve and tax exemptions for sales of stock to intermediaries and for repurchase and stock lending.

The SDRT exemption registration steps:
— Trading Member fills in SDRT relief self certification form and submits to Turquoise
— Turquoise will register the Trading Member with HM Treasury
— Turquoise will add the Trading Member and link it to the TSO of 'Q' via Crest

Download the SDRT form

Under the relevant legislation, a recognised intermediary is not charged stamp duty where such a transfer is not effected in connection with excluded business as defined in the relevant legislation.

Application to the Irish Revenue Commissioners
— Trading Member fills in application form and submits to Turquoise
— Turquoise will register the Trading Member with the Irish Revenue Commissioners
— Irish Revenue Commissioners will validate the application confirming back to the Trading Member and EUI
— who maintain a central database

Download the Irish stamp exemption form

Please note that this information will only be provided to the authorities once Turquoise Services Ltd has been authorised as eligible to allow exemption.