Stock trading venue Turquoise has chosen a combination
of Progress Software and Detica to provide its business critical
real-time market surveillance system.
Turquoise, which was set up by leading investments banks, is
building its technology platform in readiness to go live as an
exchange in September.
Turquoise chose
Cinnober to provide its core trading platform provider in
October
It was set up to take advantage of the
Markets in Financial Instruments Directive (MiFID), which
removes the "concentration rule" across Europe, which states that
trades should go through local exchanges.
Eli Lederman, chief executive of Turquoise said, "Market
surveillance is a vital requirement for any stock exchange. By
choosing the Apama platform and deploying Detica's expertise, we
also gain a very flexible system. This will allow us to add value
to the market data we collect and offer further client services,
such as detailed analysis of transactions and a better
understanding of price improvement and performance."