Project Turquoise alive in Europe

The movement to establish a beachhead in European markets has certainly heated up. A lot of attention has been paid to the efforts by the NYSE and Nasdaq to find partners. That seemed to detract from Project Turquoise, the bid by the likes of Goldman Sachs, Merrill Lynch, Morgan Stanley and Citigroup to set up a trading venue that would have instant credibility--and order flow--in Europe. Experts estimate that the seven banks behind the project together account for about half the volume of the LSE. That is more than significant. The project is still something of a mystery. The technology behind the service will be key, and project leaders say they are closing in on some announcements in that area. Stay tuned.

For more:
- here's an article from Investment Dealers' Digest (For FierceFinance readers)