European multilateral trading facility Turquoise has signed an agreement with investment advisory firm Koris International to launch an exclusive exchange-traded fund trading segment with the aim of building institutional liquidity in European ETFs.
Robert Barnes, CEO of Turquoise, to launch ETF trading platform as Mifid II looms
The agreement grants Turquoise, which is part of the London Stock Exchange Group (LSEG), an exclusive license of the TrackInsight A-list to create a dedicated ETF trading segment. The move comes amid MiFID II regulation, which will see ETFs considered as securities (instead of funds) and therefore be required to demonstrate best execution.
The new Turquoise TrackInsight ETF trading segment will include European ETFs that have a fund rating of three stars of more (rated by TrackInsight). The platform will also seek to boost liquidity through market making arrangements and the involvement of Europe’s largest ETF investors. The aim is to offer a single venue which offers both best selection and best execution.
There will also be an on order book trading segment featuring TrackInsight’s best rated funds as well as a best execution workflow with pan European coverage, allowing firms to access a list order book and Turquoise’s dark pool innovations, Turquoise Uncross and the award winning Turquoise Block Discovery.
Robert Barnes, CEO at Turquoise, said in a statement: “We are delighted investment advisory firm Koris International selected Turquoise for its innovation and customer engagement. Turquoise TrackInsight ETF trading segment is another example of serving customer needs ahead of MiFID II.”
TrackInsight is the first pan European independent platform for ETF selection. TrackInsight will provide independent, free and non-solicited ratings based on proprietary analytics, with a fully transparent quantitative methodology.
The platform is available at no charge for end economic beneficiaries.