UK-based Turquoise on Friday said it is now the fastest trading platform in the world using a system developed by Colombo-based MillenniumIT.
“The average order entry latency on Turquoise’s new ultra-low latency trading system, developed by MillenniumIT, is 126 microseconds, twice as fast as Turquoise’s main international competitors on a like for like basis. 99.9% of all customer orders on the new system are accepted, processed and acknowledged within 400 microseconds,” the company said.
David Lester, CEO of Turquoise said, “We are absolutely delighted with the performance of our new technology, and the very positive feedback our customers have given us on the platform. Recent competition between trading venues has helped move the market forward, extending choice and reducing costs for clients, as well as driving the innovation that MillenniumIT technology has brought to Turquoise.”
He said with Turquoise, mainly owned by the London Stock Exchange, now offering average end-to-end trading of just 126 microseconds, twice as fast as its competitors, the company has made it clear it plans to compete, and compete strongly. “In just eight months, in partnership with our customers and their vendors, we have delivered the world’s fastest trading platform and expanded our membership base to over 60 clients.
The consistent low latency and responsiveness of our new trading platform will underpin the next stage of Turquoise’s growth, offering our clients greater risk control and improved certainty of execution, which will lead to tighter spreads and a deeper liquidity pool,” he added in a press release. |
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