M-DAQ, a leading global FX specialist, has announced its cooperation with Turquoise®, the pan-European MTF majority owned by London Stock Exchange Group (LSEG). The collaboration envisions a new service to investors who, through their brokers, will be able to execute cross-currency securities transactions and settle in their currency of choice (subject to regulatory approval). Turquoise® is a multilateral trading facility (MTF) regulated by the UK FCA, also with the ability to accept members from overseas jurisdictions including Singapore, Hong Kong S.A.R and Dubai amongst others. As an MTF, it provides global investors with access to order books to trade nearly 4300 securities (including ETFs, ADRs, GDRs) of 20 countries including from Europe, Switzerland, the UK and US – all through a single interface. With M-DAQ headquartered in Singapore, the combined workflow will enhance the foreign investment paradigm across continents. Continuing its path to improve market structure through innovation, M-DAQ will contribute its patented product Trading the Right Chart (TRC). This complements well the capabilities of Turquoise®, removing the need for multilateral relationships and reduces FX operational risk faced by brokers, delivering further efficiencies to equity capital markets and better outcomes for end investors.
Richard Koh, Founder & Group CEO of M-DAQ Global, said: “M-DAQ is delighted to be the first Singapore flagship fintech to partner with Turquoise®. By leveraging our wealth of experience, we can offer customers the ability to efficiently execute small FX transactions fitting the securities order shapes and using our tried and tested technology capabilities. We are well positioned to work alongside Turquoise® to bring the global equities market a solution that would allow cross-border investors to access foreign assets with more ease and confidence.” Dr. Robert Barnes, Group Head of Securities Trading, LSEG, & CEO Turquoise Global Holdings, said: “Turquoise® is committed to serving our clients through innovation and partnership. Together, Turquoise M-DAQ™ will bring transparency, automation and efficiency to trading of securities that settle in an investor’s currency of choice. I look forward to continuing our collaboration with M-DAQ to deliver benefits for brokers and investors.”