Turquoise Trading Services

Turquoise operates two multilateral trading facilities (MTF); Turquoise Global Holdings Limited (“TGHL” - or - “Turquoise”-) is regulated by the Financial Conduct Authority (- “FCA” -), and Turquoise Global Holdings Europe B.V. (“TGHE” - or - “Turquoise Europe”-) is regulated by the Autoriteit Financiële Markten (- “AFM”-) and De Nederlandsche Bank (- “DNB”-).

Turquoise is majority-owned by LSEG (London Stock Exchange Group) in partnership with the user community. It offers members access to 4,500 securities across 20 countries, including the UK, Switzerland and the US. With a single connection, members can trade shares, depository receipts, ETFs, and European rights issues of 20 countries with an open model approach (supporting interoperability and preferred clearing models) that allows members to choose among three CCPs to clear these trades. Members include banks, brokers, specialist trading firms and retail intermediaries.

Turquoise offers various discrete order books available on both Turquoise and Turquoise Europe.

Trade on a transparent order book

Continuous trading starts from 08:00 London time to 16:30 London time.

Orders are executed on a price, display type and time priority basis. Persistent order types (in order of display type priority) are:

  • Limit orders (displayed)
  • Iceberg orders (partly displayed)
  • LIS hidden orders (non-displayed)

Non-persistent order types, all of which are non-displayed are:

  • IOC/FAK orders
  • FOK orders and market orders
  • Minimum acceptable quantity (MAQ) is supported on non-persistent order types

The Turquoise Lit order book is available on Turquoise (MIC: TRQX) and on Turquoise Europe (MIC: TQEX).

For additional information, please refer the Turquoise Trading Service Description in the Turquoise Document Library.

Meet the team

Adam Wood

Turquoise CEO and Head of Equities Trading Commercial Proposition

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Tom Stenhouse

Head of Equities Trading Product
 

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David Briody

Head of Origination and Specialist Trading
 

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Richard Worrell

Head of Business Development, Equity Trading