The Turquoise trading platform is a multilateral trading facility that allows trades to take place on and off exchanges. Nine investment banks created it in 2008. The goal was to offer dealing services 50% cheaper than other exchanges. Deutsche Bank, Goldman Sachs, and Morgan Stanley were among the banks that created Turquoise. They chose Cinnober as its trading platform and EuroCCP to provide clearing services. Turquoise has a built-in surveillance system that scans for market irregularities.
The London Stock Exchange Group acquired 60% of the trading platform in 2009. A year later Turquoise switched to the MillenniumIT platform. Technical problems caused the system to stop working for 2 hours. In 2011 Turquoise added options and futures derivatives trading through Sola Trading, their new derivatives platform. The trading platform has won prizes like the Most Innovative Trading Service and the Best New Derivatives Trading Platform/Service by the Financial News Awards in 2011 and 2015.
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best online brokers. Trading platform, fees, mobile trading, payments, assets, regulation, education, and research are all part of our six-month evaluation of a broker’s trading platform. The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.