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Plato Partnership Newsletter April 2020

Turquoise

The Turquoise Plato partnership is our oldest and most valued partnership. Together, we created the Turquoise Plato Block Discovery™ and Turquoise Plato Lit Auctions™ as cornerstones of our mission to enhance and improve the market for all its participants.

In times of economic stress, the mettle of financial services is tested. During the stress caused by COVID-19, Turquoise has proven itself once again in providing strategic liquidity, alpha preservation and a safe, secure, trusted environment in which to trade. The record volumes traded on the Turquoise Plato platform are commensurate with its importance as a vital mechanism for liquidity and the flow of capital, even during a difficult trading environment.

Turquoise Plato has seen record volumes in the first quarter of 2020, and both partnership products have continued to grow and excel. In March, Turquoise Plato Block Discovery™ latest record month by value traded saw €19.33bn traded, (33 percent higher than the previous monthly record in February 2020).  In addition, Turquoise Plato Block Discovery™ saw a record quarter of  €46.1 billion value traded in Q1 87 per cent higher than the previous record quarter of Q1 2019.

Turquoise Plato Lit Auctions™ also had a record month by value traded in March. With over €2bn traded, this was 51 percent higher than the previous monthly record in February 2020. For us, the Turquoise Plato partnership is the benchmark for success we continue to hold ourselves to.

Turquoise Plato Quarterly Records

Turquoise Plato Lit Auctions™

  • Q1 2020 is new quarterly record € 4.29 billion (+51% more vs prior record € 3.42 billion Q3 2018)

Turquoise Plato Block Discovery™

  • Turquoise Plato Block Discovery™ Record Quarterly value traded of € 46.1 billion in Q1 2020 (+87% higher than prior record Q1 2019 € 24.7 billion)

View the full latest Turquoise Plato venue data here.

Plato Partnership Events

COVID-19 has dramatically changed the way we all do business. We’d like to take this opportunity to say we hope that all our Plato members and their loved ones are well and remain virus-free. A lot of companies have taken the sensible precaution of rearranging conference and events to prevent the spread of COVID-19. Unfortunately, this is having an impact on the Plato Calendar of events. Several of our events, and those of our partners, are sensibly being delayed to prevent the avoidable spread of the disease. We will be sure to provide updates as we look to rearrange the dates for events or at the possibility of holding them digitally.

  • AIR Summit London 2.0 has been cancelled for 2020
  • The MI3 Conference has been rescheduled to 24 September 2020 pending uncertainties throughout the remainder of the year
  • Plato Summit is still currently scheduled for 10 November 2020 pending uncertainties through the remainder of the year
PLIA by PlatoWe are pleased to announce a new Plato Partnership initiative in partnership with Urvin.Compliance. PLIA by Plato is set to become the most advanced platform available and the industry standard for securities trading governance, in Europe. With features guided by Plato Partnership members from both the Buy Side and Sell Side, the platform will allow traders and compliance professionals to systematically communicate and document trading practices.

Access to PLIA by PLATO is available to all institutional investors and their broker-dealer partners. Typical users include traders and compliance personnel who are engaged in the best execution review process.

Bill Stephenson, CEO of Urvin.Compliance said: “The mission of Urvin.Compliance is to promote transparency and accountability within the best execution process, and the PLIA by PLATO platform will set a new standard for the exchange of important information between counterparties.  We are excited to become a preferred provider of the Plato Partnership and look forward to collaboratively creating efficiencies, innovative solutions, and game-changing functionality for its membership and all other users of the platform.”

Babelfish

Last year, we announced that Plato will be introducing BabelFish Analytics’ ClarityReveal, a next-generation trade cost analysis platform, to the European market in 2020 as Plato-Clarity.

The Plato-Clarity consulting platform is a fully functioning analytical solution. Subscribers alert brokers that they are participating and Babelfish will take care of the rest. The processed data is delivered in a series of highly customisable ‘tableau’ dashboards that illuminate aggregated venue and sequencing activity, internalisation, transaction fees and rebates, momentum and signalling, comparative broker scorecards, and proprietary metrics that enable traders to understand the trade-off between liquidity sourcing and information leakage control.

For more information on Plato-Clarity, you can read this article by Jeff Alexander, Founding Partner, and Linda Giordano, Founder and CEO of Babelfish in Best Execution.