The aim of the promotion is to attract additional passive order flow to Turquoise's integrated order book, increasing liquidity on the platform ahead of the planned migration to Millennium Exchange.

Turquoise clients that increase their passive trading activity by more than €1 billion per month versus their Q1 2010 average will qualify for the scheme. The promotion offers rebates according to the increase in passive value traded in a calendar month, with the first €2.5 billion receiving a rebate of 0.28bps, the next €3.5 billion a rebate of 0.48bps, and the next €4 billion a rebate of 0.28bps.

New members can also qualify for the rebate, during any month of the promotion, as long as they exceed a passive value traded of €1 billion.

Turquoise's aggressive fee remains at 0.28bps.

Today's announcement is the latest in a series of recent developments at Turquoise, including the recent launch of trading in US-listed ETFs, equities and ADRs. Turquoise has also seen a growing number of clients enable their systems to trade Hungarian and Czech stocks on the platform.