Turquoise CEO Eli Lederman has denied recent market rumours suggesting that the trading platform is unlikely to launch before 2009. Turquoise is scheduled to launch in September 2008.
“I totally refute the rumours,” Lederman told thetradenews.com. “The project is on track and we are looking forward to a live launch in September.”
Turquoise, which will be registered as a multilateral trading facility (MTF), aims to compete directly with the main European stock exchanges for order flow. It is backed by nine of the world’s largest investment banks.
Since the initial plans for the platform were unveiled in 2006, the project has suffered delays. It was originally planned to start operating in 2007. The launch date was subsequently pushed back to March/April 2008, and then September. Rumours that the project would be delayed again appeared in newspaper reports on Wednesday.