(1888PressRelease)
February 19, 2008 - London, UK; Philadelphia, USA; Hyderabad, India; : Turquoise, the multi-lateral trading facility established by nine leading European investment banks today announced that it is partnering with AppLabs, the world’s largest independent testing, quality management and certification solutions company, to deliver the testing programme which will verify and ensure that the trading platform is fit for purpose.
As Turquoise’s test partner, AppLabs will design, develop and build the test strategy for the project. AppLabs will then extensively test the trading and surveillance functionalities to assure the quality of the delivery and ensure Turquoise launches successfully in September 2008.
Commenting on today’s announcement, Yann L’Huillier, Chief Technology Officer of Turquoise said: “We are ambitious for Turquoise and acknowledge that to achieve our goals we will have to assure the market place that the integrated trading platform is functionally reliable, robust and efficient and that it will perform to the highest standards. Bringing to bear the experience of AppLabs to thoroughly test the Turquoise platform will help us to achieve this goal."
Graham Smith, Head of Client Engagement, Europe at AppLabs said: “With our extensive testing experience and in-depth understanding of trading platforms, AppLabs will be able to ensure that the functionality and efficiency of Turquoise’s trading system will exceed the expectations of the marketplace at its launch.”
About Turquoise
Turquoise is an entrepreneurial, independent company that will provide an innovative, pan-European and open trading platform treating all participants equally. Backed by the largest investment banks in Europe, Turquoise will have a critical mass of natural liquidity from day one: a venue that every trader will need to access.
Turquoise's dark pool and lit pool will be able to interact with each other to help the market trade more efficiently at improved prices. This unique, integrated order pool, combining and matching dark and transparent orders, will enable users to obtain price improvement for small orders and trade large orders efficiently while minimising information leakage. The clearing & settlement function will be delivered by EuroCCP, a subsidiary of DTCC, a partnership that will help to drive down the total cost of trading.
For further information, please visit www.tradeturquoise.com
Turquoise
Adrian Flook
M:Communications
+44 (0)20 7153 1588 / (0)7768 608396
About AppLabs
AppLabs is the world’s largest independent testing, quality management and certification solutions company. With over a decade of experience, AppLabs has become a trusted partner to more than 600 companies, providing both quality assurance and third-party validation. Customers include American Airlines, Royal Bank of Scotland, VISA, HP, Novell and SAP. AppLabs goes beyond technical expertise when it comes to IT services and offers customers rigorous risk mitigation processes, a singular focus on quality, expert project management, communication and global delivery capabilities. It is the first software testing company to get appraised at SEI CMMI Level 5, the highest quality standard attainable in software engineering. Headquartered in Philadelphia, USA, the company maintains advanced testing facilities in the US, UK and in India.
For more information, visit www.applabs.com
Press Contacts:
India
Vijaya Lakshmi
AppLabs
Tel: + 91 402 355 8000
vijaya.lakshmi ( @ ) AppLabs dot com
Juhee Bagri
Adfactors PR Pvt. Ltd.
Mobile: + 91 98199 24234
juhee.bagri ( @ ) adfactorspr dot com
UK
Stephen Johnson
AppLabs
Tel: + 44 (0) 1772 885 850
stephen.johnson ( @ ) AppLabs dot com
Lucy King / Nicola Craft
Buffalo Communications
Tel: + 44 (0) 2072 928 692
AppLabs ( @ ) buffalo dot co.uk
North America
Peter Winicov
AppLabs
Tel: + 1 610 952 1369
peter.winicov ( @ ) AppLabs dot com
