Turquoise confirmed today that it is now the fastest trading platform in the world. The average order entry latency on Turquoise’s new ultra-low latency trading system, developed by Millennium IT, is 126 microseconds, twice as fast as Turquoise’s main international competitors on a like for like basis. 99.9% of all customer orders on the new system are accepted, processed and acknowledged within 400 microseconds.
Speaking ahead of the European Exchanges Summit in London, where he will give further detail on the statistics, David Lester, CEO of Turquoise said:
“We are absolutely delighted with the performance of our new technology, and the very positive feedback our customers have given us on the platform. Recent competition between trading venues has helped move the market forward, extending choice and reducing costs for clients, as well as driving the innovation that MillenniumIT technology has brought to Turquoise.
“With Turquoise now offering average end-to-end trading of just 126 microseconds, twice as fast our competitors, we’ve made it clear we intend to compete, and compete strongly. In just eight months, in partnership with our customers and their vendors, we have delivered the world’s fastest trading platform and expanded our membership base to over 60 clients. The consistent low latency and responsiveness of our new trading platform will underpin the next stage of Turquoise’s growth, offering our clients greater risk control and improved certainty of execution, which will lead to tighter spreads and a deeper liquidity pool.”
Turquoise order entry using MillenniumIT technology:
Order Entry via Native API
|Average for all orders||126 µs|
|99% of all orders within||210 µs|
|99.5% of all orders within||246 µs|
|99.9% of all orders within||398 µs|
Order Entry via FIX5 API
|Average for all orders||196 µs|
|99% of all orders within||264 µs|
|99.5% of all orders within||293 µs|
|99.9% of all orders within||362 µs|