Vontobel, a provider of electronic execution services in the Swiss market has become Turquoise’s first direct member from Switzerland to provide access to Turquoise Plato Block Discovery to its customers.
Vontobel joins a strong network of more than 25 international member firms that are participants of Turquoise Plato Block Discovery™.
Peter Camenzind, Managing Director, Head,Transaction Banking, Vontobel, said: “Liquidity is very important to our customers and also to us, especially in light of MiFID II and the regulatory changes that will make the European Market Structure more sustainable. Turquoise has a significant chance to deliver this to the market. We are delighted to offer our clients access to Turquoise Plato Block Discovery™ as the first participant in Switzerland. Vontobel’s connectivity to this pool of liquidity will give our clients further access to block volume and complements our existing broad direct access to over 16 markets in Europe.
Robert Barnes, CEO of Turquoise, said: “We are delighted to welcome Vontobel as our first direct member from Switzerland, and we look forward to supporting them as they prepare for MiFID II. Switzerland is an important source of orderflow in European stocks. Turquoise Plato Block Discovery™ provides our customers with a mechanism that allows them to adapt to the new MiFID II trading requirements and anonymously execute large block orders.”
Turquoise Plato Block Discovery ™ is an award-winning Large-In-Scale block trading mechanism via electronic order book launched in 2014, offering a neutral and trusted MiFID II compliant platform for executing large anonymous block orders. With over two years of empirical data, Turquoise Plato Block Discovery™ has a solid track record of robust reputational scoring, designed to avoid information leakage and to deliver quality execution.