The London Stock Exchange Group (LSEG) has launched a new trading service, Turquoise Retail Max, to provide best-in-class execution and price optimization services to retail brokers. The new service is available through Turquoise Europe, the European trading platform that LSEG owns in partnership with its user community.
The service, which seeks to improve service delivery to retail investors trading in European securities, aims to help retail brokers achieve best execution “through a competitive multilateral auction process”. The service also aims to help retail brokers achieve “efficient processing” from trading to clearing and settlement.
LSEG announces an innovative new trading service, Turquoise Retail Max™, designed to support European retail brokers in better fulfilling their execution commitments and to offer price improvements to retail end investors when trading pan-European securities. https://t.co/MzjAGUrAwL pic.twitter.com/leq2SzAwtp
– LSEG (London Stock Exchange Group) (LSEGplc) April 13, 2023
According to LSEG, Turquoise Europe with the new service is extending the benefits of price optimization on retail brokerages’ strong and negative orders and orders. The London Stock Exchange operator plans to include quantitative trading firm, Hudson River Trading, and full-service brokerage Stiffel, as the first retail liquidity providers to take advantage of the new service.
LSEG said: “Orders identified as being issued by a retail investor can achieve the best possible results by utilizing a price formation mechanism based on the liquidity provided by both specialized retail liquidity providers and all other market participants.” a permit.
Speaking about the new service, Adam Wood, CEO of Turquoise Global and Head of Trade Showcase for Shares at the London Stock Exchange, noted that the new service means retail brokers for the first time can “achieve execution at the primary mid-market point in an order book with transparency.” before trading in full.
“Customer orders will benefit from a diversified source of liquidity, competitively priced through the traditional auction process,” Wood said, adding that “by placing orders of retail investors at the center of a price-forming mechanism, the new service will help retail brokers achieve better execution.”
LSEG continues strong
As LSEG continues to expand its services, the best financial markets infrastructure and data provider has remained profitable. In 2022, the British company’s total income jumped 18.5% year-on-year to £7.74 billion (including refunds), which was higher than market expectations. The exchange’s operating profit rose 33% year-on-year last year, to £1.4 billion.
LSEG has also started a £750m share buyback program to buy back its shares from Blackstone and Thomas Reuters. The transaction, which comes two years after the exchange operator’s acquisition of Refinitiv from both companies, is expected to be completed by April 2024.
In late 2022, LSEG also revealed plans to purchase Acadia, a US-based risk and guarantee management services provider. Meanwhile, tech giant Microsoft recently bought a 4% stake in the group after signing a 10-year partnership agreement with the operator of the London Stock Exchange.
CySEC Warning; New features on XForce from Fortex; Read snippets of today’s news.
The London Stock Exchange Group (LSEG) has launched a new trading service, Turquoise Retail Max, to provide best-in-class execution and price optimization services to retail brokers. The new service is available through Turquoise Europe, the European trading platform that LSEG owns in partnership with its user community.
The service, which seeks to improve service delivery to retail investors trading in European securities, aims to help retail brokers achieve best execution “through a competitive multilateral auction process”. The service also aims to help retail brokers achieve “efficient processing” from trading to clearing and settlement.
LSEG announces an innovative new trading service, Turquoise Retail Max™, designed to support European retail brokers in better fulfilling their execution commitments and to offer price improvements to retail end investors when trading pan-European securities. https://t.co/MzjAGUrAwL pic.twitter.com/leq2SzAwtp
– LSEG (London Stock Exchange Group) (LSEGplc) April 13, 2023
According to LSEG, Turquoise Europe with the new service is extending the benefits of price optimization on retail brokerages’ strong and negative orders and orders. The London Stock Exchange operator plans to include quantitative trading firm, Hudson River Trading, and full-service brokerage Stiffel, as the first retail liquidity providers to take advantage of the new service.
LSEG said: “Orders identified as being issued by a retail investor can achieve the best possible results by utilizing a price formation mechanism based on the liquidity provided by both specialized retail liquidity providers and all other market participants.” a permit.
Speaking about the new service, Adam Wood, CEO of Turquoise Global and Head of Trade Showcase for Shares at the London Stock Exchange, noted that the new service means retail brokers for the first time can “achieve execution at the primary mid-market point in an order book with transparency.” before trading in full.
“Customer orders will benefit from a diversified source of liquidity, competitively priced through the traditional auction process,” Wood said, adding that “by placing orders of retail investors at the center of a price-forming mechanism, the new service will help retail brokers achieve better execution.”
LSEG continues strong
As LSEG continues to expand its services, the best financial markets infrastructure and data provider has remained profitable. In 2022, the UK company’s total income jumped 18.5% year-on-year to £7.74 billion (including refunds), higher than market expectations. The exchange’s operating profit rose 33% year-on-year last year, to £1.4 billion.
LSEG has also started a £750m share buyback program to buy back its shares from Blackstone and Thomas Reuters. The transaction, which comes two years after the exchange operator’s acquisition of Refinitiv from both companies, is expected to be completed by April 2024.
In late 2022, LSEG also revealed plans to purchase Acadia, a US-based risk and guarantee management services provider. Meanwhile, tech giant Microsoft recently bought a 4% stake in the group after signing a 10-year partnership agreement with the operator of the London Stock Exchange.
CySEC Warning; New features on XForce from Fortex; Read snippets of today’s news.