London, UK; Philadelphia, USA; Hyderabad, India; 24 September, 2008: AppLabs, the world’s largest independent testing, quality management and certification solutions company, today announces the completion of a major Functional and Performance Testing phase for Turquoise, the multi-lateral trading facility established by nine leading European investment banks.

AppLabs was chosen as the sole independent testing partner.  AppLabs was responsible for the design, development, implementation and verification of Turquoise’s testing strategy.  The platform has been running since its soft launch on 15 August 2008, trading across 13 major European countries with Turquoise's unique market model integrated a dark pool and visible order book. Users on the integrated book can expect frequent price improvement for small orders and can also trade large orders efficiently on the dark book while minimising information leakage into the market.

Yann L’Huillier, Chief Technology Officer of Turquoise, comments: “Designed to compete with incumbent exchanges and alternative venues, we differentiate on technology, costs and the quality of our services.  We needed an experienced and unbiased testing partner like AppLabs to make sure our platform is functionally reliable, robust and efficient, which are critical to our success.”

Graham Smith, Senior Vice President of European Business at AppLabs says: “Turquoise understood the importance of testing from the outset and AppLabs’ testing expertise and experience of exchanges allowed us to ensure everything met the highest standards before, during and after launch. Our next and continuing objective is to ensure further code releases are fully tested.”