Following Cooperation Agreement with Plato Partnership in 2016, Tuquoise rebranded its non-displayed services as Turquoise Plato™, including the award winning Turquoise Plato Block Discovery™ and Turquoise Plato Uncross™. The agreement formally brings together for the first time buy-side, sell-side and trading venue to deliver increased efficiencies in anonymous European equity block trading.
How does the Cooperation Agreement work?
The Cooperation Agreement works as follows:
- Plato Partnership and Turquoise will jointly promote the use of Turquoise’s award winning existing block trading services and will use these as the platform from which to deliver further functional enhancements for the benefit of all market participants.
- Turquoise will rebrand its non-displayed services, reinforcing the importance which both parties ascribe to their cooperation. The services will now be known as Turquoise Plato™.
- The parties will work closely together and inclusively with the wider buy and sell-side community to develop and validate enhancements to the Turquoise Plato™ market model that set standards for marketplace excellence, including now and future best practice in electronic block trading
- Both the buy-side and sell-side members of Plato Partnership have a common objective to ensure a rational market structure for block trading under MiFID II, and collectively believe this would be best served via collaboration with existing venues.
Turquoise offers a broad universe of 4,300 stocks with uniform access to 19 major European and emerging markets as well as US stocks, IOB Depositary Receipts, ETFs and European Rights issues all through one interface and membership.
Turquoise comprise two discrete order books, Turquoise Integrated Order Book and Turquoise Plato™. Members benefit from access to significant institutional liquidity from our investment bank shareholders and from a diverse list of participants, including global banks and investment firms, institutions with regional focus and specialist trading and market-making firms. Use of existing London Stock Exchange networks, optimal co-location facilities, resources and processes minimises setup and development costs.
Turquoise supports a three-way interoperable clearing model, providing members with flexibility in choosing the most efficient clearing solution for their business. Learn more.
Accolades and awards for Turquoise Plato®
- November 2017 – Turquoise Plato Block Discovery™ wins The TRADE’s Leaders in Trading award for Outstanding Block Trading venue.
- December 2017 – Turquoise Plato® launches Turquoise Plato Lit Auctions™
- October 2020 – Turquoise Plato® launches Turquoise Plato Trade at Last™
- November 2020 – Turquoise Plato® sets new daily Record of € 2,459,577,235 value traded of which €1.42bn is new daily Record on 9 November 2020.
- November 2021 – Turquoise wins Outstanding Equities Trading Venue overall at The TRADE Leaders in Trading Awards in November.
- December 2021 – Turquoise Plato Block Discovery™ sets new Record for single trade size € 27,047,425 on 3 December 2021, stock is Daimler AG of Germany.
- 2022 Q1 – Turquoise Plato® sets new Record for largest value traded in a single Quarter €83.6bn (€80.9bn Q1 2021, €79.8bn Q1 2020).
- 2022 March – Turquoise Plato® sets new Record of the largest Average Daily Value traded of €1.35bn per day during in a single month, see attached illustration.