Turquoise, the U.K.-based multilateral trading facility expected to launch in September, has agreed to use a system from Stockholm-based technology provider and agency brokerage NeoNet for real-time data from the European equity markets. Through NeoNet XG Market Data, Turquoise will offer its clients low-latency data, transaction analysis and detailed trading information. Another Swedish company, Cinnober Financial Technology, is providing Turquoise's trading platform.
"We are using NeoNet's inbound market data to feed our trading engine and surveillance system," explained Yann L'Huillier, CTO of Turquoise. "This market data is not an addition to our product, but rather an integral part of our trading environment used to price and execute orders sent by Turquoise customers to the Turquoise trading engine. We do not intend to enrich the NeoNet data from other stock exchanges and distribute it." He added, "We will generate our own market data based on our own order book and executions."
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