QuantHouse, the global provider of innovative market data services, trading and infrastructure solutions, today announced that Turquoise® has extended the QuantHouse real-time primary market data feeds to its Turquoise Plato™ midpoint matching services, including the award winning Turquoise Plato Block Discovery™, to cover securities of 18 European countries, including those recently added emerging markets Czech Republic and Hungary.
Dr Robert Barnes, CEO Turquoise®, said: “QuantHouse provides bid and offer prices from primary markets which Turquoise® references within its Turquoise Plato™ order book innovations such as Turquoise Plato Block Discovery™, Turquoise Plato Uncross™, and Turquoise Plato Dark Lit Sweep™ that offer investors benefits of potential price improvement when trading using a midpoint reference price for a better result on a consistent basis, the very definition of MiFID best execution.”
Stephane Leroy, Business Co-Founder and Chief Revenue Officer, QuantHouse, added: “We are delighted that our collaboration with Turquoise® has now expanded the ability of midpoint matching to include QuantFEED for a total of 18 European markets through single connection on Turquoise Plato™. We are proud to support Turquoise Plato™ innovations, and our partnership is testament to our expertise and global leadership in providing advanced trading technologies to the capital market community for more than ten years.”
QuantHouse provides trading venues, hedge funds, market makers, proprietary desks, brokers and sell-side firms with systematic trading infrastructure solutions including ultra-low latency market data, algo trading development frameworks, proximity hosting and order routing. QuantHouse was acquired by S&P over four years ago and acquired back by the QuantHouse founders in January 2017.
Turquoise® is the European multilateral trading facility majority owned by London Stock Exchange Group in partnership with the user community. With a single connection, members can trade shares, depository receipts, ETFs, and European Rights Issues of 19 European countries with an Open Access model that allows members to choose among 3 interoperable CCPs to clear these trades. Members include banks, brokers, specialist trading firms and retail intermediaries.
Turquoise® features two electronic orders book services. Turquoise® Integrated Lit combines simple limit and iceberg orders with Large In Scale hidden orders. Turquoise® Midpoint Dark, renamed Turquoise Plato™, prioritizes orders by size and allows users to configure Minimum Execution Size; it features two distinct mechanisms, each executing at the midpoint of the Primary Market Best Bid and Offer: continuous matching and Turquoise Plato Uncross™, an innovation that provides randomised uncrossings during the trading day, ideal for larger and less time sensitive passive orders. Turquoise Plato Block Discovery™ matches undisclosed Block Indications that execute in Turquoise Plato Uncross™.
Turquoise Plato Dark Lit Sweep™ is an order that interacts firstly with the Turquoise Plato™ order book at the primary midpoint price and then continues to interact with any balance resting in Turquoise® Integrated Lit.
QuantHouse provides end-to-end systematic trading solutions to help hedge funds, market makers, proprietary desks, exchanges and latency sensitive sell-side firms. This includes ultra-low latency market data technologies, algo-trading development framework, proximity hosting and order routing services.