Turquoise partners with Singapore-based M-DAQ for cross-currency securities transactions

“Turquoise M-DAQ will bring transparency, automation and efficiency to trading of securities that settle in an investor’s currency of choice.”

LSEG-owned pan-European MTF Turquoise has signed a cooperation agreement with FX specialist M-DAQ Global in order to provide brokers with its composite equity and FX trading workflow with enriched data analytics in multiple currencies.

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.

Brokers will benefit from a single relationship, and reduced operational risk, while investors get transparency, better outcomes, and the true cost of their equity and FX transactions, according to the firms.

M-DAQ first Singapore fintech to partner with Turquoise

Turquoise is a multilateral trading facility (MTF) regulated by the UK FCA that 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 the United States.

The MTF has the ability to accept members from overseas jurisdictions including Singapore, Hong Kong, and Dubai amongst others. The partnership with M-DAQ, a Singapore-based fintech, will enhance the foreign investment paradigm across continents.

M-DAQ will contribute its patented product Trading the Right Chart (TRC) that complements Turquoise’s MTF, removes the need for multilateral relationships, and reduces FX operational risk faced by brokers.

Richard Koh, Founder & 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.”

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.”