What is Turquoise?
Who We Are
Turquoise is a European multilateral trading facility majority owned by London Stock Exchange Group in partnership with the user community. With a single connection, members can trade shares, depository receipts, European rights issues and ETFs of 19 European countries with an efficient interoperable post-trade model, as well as US securities. Members include banks, brokers, specialist trading firms and retail intermediaries.
Turquoise features two orders books. Turquoise Integrated Lit Book combines simple limit and iceberg orders with Large In Scale hidden orders. Turquoise Midpoint Dark Book prioritizes orders by size and allows users to configure Minimum Execution Size; it features two distinct mechanisms, each executing at the midpoint of the Primary Market Best Bid and Offer: continuous matching and Turquoise Uncross™, an innovation that provides randomised uncrossings during the trading day, ideal for larger and less time sensitive passive orders. Turquoise Block Discovery™ is a new service matching undisclosed Block Indications that execute in Turquoise Uncross™.
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