What is Turquoise?
Who We Are
Turquoise Global Holdings Limited ("TGHL") is an investment firm authorised by the Financial Conduct Authority of the United Kingdom.
Initially founded by a consortium of nine investment banks, TGHL is now majority owned by the London Stock Exchange Group (LSEG). In addition to LSEG, its shareholders now include twelve of the leading investment banks.
Turquoise was established to engender greater competition in the secondary trading of European equities, and offers a combination of innovative services, superior technology and competitive pricing.
The Turquoise Equity platform offers the secondary trading of Pan-European and US equities, Exchange Traded Funds, Global Depositary Receipts, American Depositary Receipts, Exchange Traded Currency funds and Exchange Traded Commodity funds.
Turquoise Equities comprises the TQ Integrated Order Book and TQ Midpoint Dark Order Book, each covering some 4,300 securities over 19 countries, including all major European markets, Spain, Czech, Hungary and the United States. Unique functionality in the TQ Integrated Order Book combines visible and non-displayed orders to deliver increased likelihood of execution and price improvement. The TQ Midpoint Dark Order Book is a non-displayed execution service where trades execute at the midpoint of the European bid-ask spread. Non-displayed orders in the Turquoise MTF qualify for pre-trade transparency waivers specified by MiFID and are subject to immediate post-trade transparency.
The Turquoise trading platform is hosted in the data-centres of the LSEG and have interfaces common to other markets of LSEG, ensuring that customers accessing other LSEG markets can enjoy access to Turquoise with little incremental cost or effort.
Users of the Turquoise MTF benefit from fully risk-managed clearing solutions, and industry-leading market surveillance to ensure fair and orderly operations.
Membership is uniformly open to qualified firms, with members today ranging from the largest global banks and brokers to institutions with local, regional and sector focus, and specialist trading and market-making firms.