The London Stock Exchange Group (LSEG) is partnering with the consortium of banks behind Turquoise to create a pan-European trading platform.
The new multilateral trading facility (MTF) will be formed by merging Turquoise, an MTF founded by nine banks, with Baikal Global, an MTF designed to execute larger trades. Baikal is also part of the LSEG. The venture will expand LSEG services across Europe in terms of trading and liquidity aggregation. It also aims to boost European trading volume growth and promote venue choice. The MTF, which retains the Turquoise name, will be 60 percent owned by LSEG and 40 percent owned by current Turquoise shareholders, comprising global investment banks. Turquoise will be open to all market...
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