Turquoise Derivatives, which was formed by the merger of
Turquoise with the London Stock Exchange's derivatives platform
EDX, launched its FTSE 100 Futures contracts today in direct
competition with NYSE Liffe and with the aim of brining
competition to the European derivatives marketplace.
Nine banks have signed up to provide access from today.
Those are: Bank of America Merrill Lynch, Barclays Capital,
Citigroup Global Markets Limited, Credit Suisse, Goldman Sachs,
JPMorgan, Nomura and UBS.
Notable by their absence are Morgan Stanley and Deutsche
Bank, two of the shareholding banks.
Adrian Farnham, chief executive of Turquoise said: "We are
delighted to have the support of a number of banks and
liquidity partners who share our vision of introducing a more
competitive and open market for trading Equity Derivatives in
Speaking to FOW, Farnham said that the European derivatives
market is in need of increased competition and that Turquoise
Derivatives has been launched to provide that.
For more, see this month's FOW, out this