Turquoise 'suffers from technical problems'

4 September 2008

IT firm Turquoise faced disruptions on Monday, after one of its new products suffered from technical issues.

The trading platform was found to be suffering from a host of what it termed "network and firewall-related issues", the Financial Times reports

These problems have proved especially problematic, as the alternative equities service was only launched three weeks ago.

Turquoise is aiming its platform at algorithmic traders, who often make multiple orders at very rapid frequencies.

Therefore, efficiency and speed is a particular priority of the product - which is also facing stiff competition from other, similar, products launched in the last three months.

Speaking to the newspaper, chief executive of Turquoise Eli Lederman, said: “Certainly we wish it hadn’t happened but we have been analysing what happened and we’re confident that we will be fine.

"We are working to make improvements."

Turquoise's platform currently offers 1,266 stocks to traders.

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