Turquoise, a broker-backed pan-European multilateral trading facility (MTF), has announced a series of upgrades to improve response times and capacity on its platform.
From 4 February to 6 March, the MTF will deploy a new version of its matching engine and modify its infrastructure architecture between its data centres. Turquoise claims the upgrades will improve its maximum achievable throughput by 150% and reduce end-to-end response time latency to below one millisecond, down from its current average of between 1.8 and 2 milliseconds.
“While transparent to our members and requiring no client-side integration, we expect this imminent programme of improvements to establish us as the benchmark in Europe for technical performance,” read a statement on the Turquoise website.
By comparison, rival MTF Chi-X Europe has an average roundtrip latency of under 2 milliseconds, while BATS Europe claims its average roundtrip latency to be 0.444 milliseconds, on par with its US exchange.
Nasdaq OMX Europe claims to have the lowest roundtrip latency for customers using OUCH, its proprietary order entry protocol, at a peak of 0.25 milliseconds.