COLT to Provide Connectivity to Turquoise
COLT has connected to the Turquoise trading platform in a move designed to offer its financial services customers low latency connectivity to the new pan-European equities trading venue, which is due for full launch in early September. COLT will connect trading organisations to Turquoise using its Ethernet service. Turquoise is a pan-European, open equity trading platform on which all participants will have equal access. Either directly or through companies such as COLT, there will be more than 60 participants at launch with more expected to join up to the platform as the year progresses. COLT conducted a poll of its investment banking customers early this year that confirmed the importance of low latency to their electronic trading activities. All of those who took part rated latency as either ‘critical’ or ‘very important’ to successful electronic trading of securities, while 90% said they expect to invest in reducing it in 2008.