Turquoise, the equity trading system backed by nine of the world’s largest investment banks, has increased pressure on Europe’s main stock exchanges by announcing for the first time that it plans to go live in September.

The trading system, which had previously only said it would launch at the end of this year, also confirmed it will attract vital trading liquidity to the system from day one, having signed up an undisclosed number of banks to act as market makers when it goes live.