Plato Partnership and Turquoise are parting ways

This decision marks the end of an eight-year collaboration that has played a pivotal role in advancing block trading and improving market efficiency across Europe.

Even though their commercial partnership has ended, Plato Partnership and Türkis are committed to continuing their collaboration in the interests of the market. Both organizations are committed to promoting a more efficient, transparent and inclusive trading environment to provide lasting benefits to all market participants.

Mike Bellaro, CEO of Plato Partnership, said: “Plato Partnership and Turquoise have worked together to drive innovation and positive change in the equity market. Although our commercial partnership has come to an end, the collaboration has brought about positive changes in block trading and market efficiency.” Plato remains committed to advancing these goals and will continue to work with Turquoise in the interest of the stock market. We look forward to building on the strong foundation we have established through our ongoing initiatives, including reducing market data costs, electronic ECM workflow and market outage standards.”

Simon Steward, buy-side chairman of Plato Partnership, said: “As a buy-side participant, I have seen first-hand the progress we have made through our partnership with Turquoise. Together, they have made great strides in block trading, improving liquidity and trading opportunities.” The buy-side community will continue to advocate for initiatives that meet the changing needs of buy-side participants to ensure our market remains dynamic and remains efficient. Our ongoing projects, such as addressing high market data costs and exploring innovative US trading mechanisms in Europe, will continue to advance our mission.”

Salvador Rodriguez, Sell-Side Chairman of Plato Partnership, said: “The progress made over the course of the Turquoise-Plato relationship has been valuable to the Sell-Side community, particularly in setting standards for market transparency and efficiency. Plato is eager to continue his work and explore new important initiatives, such as: B. optimizing trading hours on the primary exchange and improving the fragmented clearing environment. Our ongoing efforts will ensure we continue to deliver practical solutions that improve the trading landscape for the sell-side community and beyond.

Adam Wood, CEO, Türkis Global, LSE plc said: “We would like to thank Plato for a successful partnership that has helped to increase efficiency in the European equity market.” Türkis will continue to work closely with the buy and sell sides to best -Develop practical instructions and increase efficiency in anonymous European share block trading.”