Project Turquoise to name trading technology partner

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Project Turquoise to name trading technology partner

Antony Savvas

OMX is in discussions to become the sole technology provider for Project Turquoise, a new equities trading platform supported by leading investment banks, reports The Daily Telegraph.

The paper says a technology deal is set to be announced next month. OMX, a Nordic and Baltic market operator, is set to be taken over by US exchange Nasdaq.

This means Nasdaq will get a chance to directly take on the London Stock Exchange and other major European markets.

Nasdaq previously tried to take over the London Stock Exchange, and it currently holds a 30% stake in the London Stock Exchange.

Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley and UBS are the seven investment banks behind Project Turquoise.

Stock exchange platform live, on time and on budget >>

Telegraph: Turquoise seven look for technology partner >>

Telegraph: Nasdaq's deal poses new threat for LSE >>

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